Option on Socal Fixed Price Future6590272
ICE Futures U.S.
Option on Socal Fixed Price Future
Description
A monthly Option on the corresponding Contract Period of the Socal Fixed Price Future.
Market Specifications
- Trading Screen Product Name
- NG NGI Futures
- Trading Screen Hub Name
- Socal-Border
- Contract Symbol
- OPS
- Settlement Method
- Exercise into Underlying Futures Contract
- Contract Size
- 2500 MMBtus
- Currency
- USD
- Minimum Price Fluctuation
- The price quotation convention shall be One hundredth of a cent ($0.0001) per MMBtu; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
- Contract Series
- Up to 60 consecutive monthly Contract Periods
- Last Trading Day
- At the end of the Trading Session on the last Business Day prior to the first calendar day of the Contract Period
- Option Style
- European
- Exercise Procedure
- Automatic Only
Manual exercise or abandon is not permitted
Options which are "in the money", with respect to Reference Price A, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike Price.
Options which are "out of the money" expire automatically.
Exercise Day is the third Clearing Organization business day following the Last Trading Day - REFERENCE PRICE A
- NATURAL GAS-CALIFORNIA (SOUTHERN CALIFORNIA BDR. AVG.)-NGI
- a) Ref Price A - Description
- "NATURAL GAS-CALIFORNIA (SOUTHERN CALIFORNIA BDR. AVG.)-NGI " means that the price for a Pricing Date will be that day's Specified Price per MMBTU of natural gas for delivery on the Delivery Date, stated in U.S. Dollars, published under the heading "Spot Gas Prices: California: Southern Cal. Border Avg.: avg." in the issue of NGI's Bidweek Survey that reports prices effective on that Pricing Date.
- b) Ref Price A - Pricing Date
- First publication date of Contract Period
- c) Ref Price A - Specified Price
- Average
- d) Ref Price A - Pricing calendar
- NGI
- e) Ref Price A - Delivery Date
- Contract Period
- Strike Price Listing
- A minimum of 10 Strike Prices in increments of $0.25 per MMBtu above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in $0.001 increments.
- MIC Code
- IFED
- Clearing Venues
- ICEU
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 7:50 AM - 6:00 AM* 07:50 - 06:00 | 7:40 AM 07:40 |
*Next Day
Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- O-Basis Master
- Physical
- OPS
- Logical
- OPS
- GMI (FC)
- SC
- ION A.C.N.
- Symbol Code
- OPS