Henry Cal 1X Fixed Price Options79347917
ICE Futures U.S.
Henry Cal 1X Fixed Price Options
Description
An Option on a basket of yearly Contract Periods, January-December, of the Underlying Futures Contract. For purposes of this Exchange Option, the term "One Time Option" shall mean that the Option will exercise into each of the Contract Periods of the Underlying Futures Contract in the basket using a single reference price, as defined in Reference Price A.
Market Specifications
- Trading Screen Product Name
- Natural Gas NYMEX LD1 Futures
- Trading Screen Hub Name
- Henry Cal 1x
- Contract Symbol
- HHA
- Settlement Method
- Exercise into Underlying Futures Contract
- Contract Size
- 1 lot is equivalent to 2,500 MMBtus per day of the applicable calendar year
- Currency
- USD
- Minimum Price Fluctuation
- The price quotation convention shall be one hundredth of 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 10 consecutive January - December yearly Contract Periods, or as otherwise determined by the Exchange.
- Last Trading Day
- At 2:30pm EPT on the sixth Business Day prior to the first calendar day of the first Contract Period in the basket
- Option Style
- European
- Exercise Procedure
- Automatic Only
Manual exercise or abandon is not permitted
Exercise Day: The Last Trading Day
Automatic Exercise Provisions
Options which are "in the money", with respect to the weighted average of the Reference Price A prices, will exercise automatically into twelve Underlying Futures Contracts, one for each contract month in the Contract Period, with a contract price equal to the Strike Price. The weighted average shall be determined by multiplying the Specified Price for each Delivery Date, as specified in Reference Price A, by its Weighting Factor to determine the weighted prices, summing the weighted prices, and then dividing that sum by the sum of the Weighting Factors.
For purposes of this Exchange Option, the "Weighting Factor" shall mean a number equal to the number of calendar days in the Contract Period of the Underlying Futures Contract. Each Contract Period in the basket will have its own Weighting Factor.
If the option is "out of the money", then it expires automatically. - REFERENCE PRICE A
- NATURAL GAS-ICE
- a) Ref Price A - Description
- "NATURAL GAS-ICE" means that the price for a Pricing Date will be that day's Specified Price per MMBtu of natural gas on ICE of the Henry Hub Natural Gas Futures Contract for the Delivery Date, stated in U.S. Dollars, as made public by ICE on that Pricing Date
- b) Ref Price A - Pricing Date
- Three Business Days prior to the last scheduled trading day of the ICE Henry Hub Natural Gas Futures Contract for the Contract Period in the basket
- c) Ref Price A - Specified Price
- Settlement price
- d) Ref Price A - Pricing calendar
- NYMEX
- e) Ref Price A - Delivery Date
- Each Contract Period in the basket
- Strike Price Listing
- A minimum of 10 Strike Prices in increments of $1.00 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
Related Products
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 | 8:50 AM - 7:00 AM* 08:50 - 07:00 | 8:40 AM 08:40 |
*Next Day
Sunday Pre-Open 5:10 PM ET; Sunday Open 5:50 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- O-Henry Nat Gas
- Physical
- HHA
- Logical
- HHA
- GMI (FC)
- ION A.C.N.
- Symbol Code
- HHA