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ICE Futures U.S.

Option on EP San Juan Fixed Price Future

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Description

A monthly Option on the corresponding Contract Period of the EP San Juan Fixed Price Future.

Market Specifications

Trading Screen Product Name
NG IF Futures
Trading Screen Hub Name
San Juan (EP)
Contract Symbol
OPU
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-EL PASO (SAN JUAN BASIN)-INSIDE FERC
a) Ref Price A - Description
"NATURAL GAS-EL PASO (SAN JUAN BASIN)-INSIDE FERC" 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 "Prices of Spot Gas Delivered to Pipelines ($/MMBtu): El Paso Natural Gas Co.: San Juan Basin: Index" in the issue of Inside FERC 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
Index
d) Ref Price A - Pricing calendar
Inside FERC
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

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London11:50 PM - 10:00 PM*
23:50 - 22:00
11:40 PM
23:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
O-Basis Master
Physical
OPU
Logical
OPU
GMI (FC)
SJ
ION A.C.N.
Symbol Code
OPU