- Trading Screen Product Name
- Natural Gas NYMEX LD1 Futures
- Trading Screen Hub Name
- Henry Cal 1x
- Contract Symbol
- Settlement Method
Exercise into Underlying Futures Contract
- Contract Size
- 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
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
- 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
- d) Ref Price A - Pricing calendar
- 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
- Clearing Venues