Trading Unit
One NYMEX Division natural gas futures contract.
Price Quotation
U.S. dollars and cents per mmBtu.
Trading Hours
(All times are New York time)
Open
outcry trading is conducted from 9:00 AM until 2:30 PM. Electronic
trading is conducted from 6:00 PM until 5:15 PM via the CME Globex® trading platform, Sunday through Friday. There is
a 45-minute break each day between 5:15PM (current trade date) and 6:00 PM (next trade date).
Trading Months
Consecutive months for the balance of the
current year plus five additional years
Minimum Price
Fluctuation
$0.001
(0.1¢) per mmBtu ($10.00 per contract).
Maximum Daily
Price Fluctuation
No
price limits.
Last Trading
Day
Trading
ends on the business day immediately preceding the expiration of the underlying futures contract.
Exercise of Options
By a clearing member to the Exchange clearinghouse
not later than 4:30 PM or 45 minutes after the underlying futures settlement price is posted, whichever is later, on any day
up to and including the options expiration.
Strike Prices
Twenty strike prices in increments of $0.05
(5¢) per mmBtu above and below the at-the-money strike price in all months, plus an additional 20 strike prices in increments
of $0.05 (5¢) per mmBtu above the at-the-money price will be offered in the first three nearby months, and the next 10
strike prices in increments of $0.25 (25¢) per mmBtu above the highest and below the lowest existing strike prices in
all months for a total of at least 81 strike prices in the first three nearby months and a total of at least 61 strike prices
for four months and beyond. The at-the-money strike price is nearest to the previous day's close of the underlying futures
contract. Strike price boundaries are adjusted according to futures price movements.
Margin Requirements
Margins are required for open short options
positions. The margin requirement for an options purchaser will never exceed the premium paid.
Trading Symbol
ON
