Calendar Year One Time Option on Henry Calendar Year One Time Fixed Price Future6590280

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
NG LD1 Futures
Trading Screen Hub Name
Henry Cal 1x
Commodity Code
HHC
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 10 consecutive January - December yearly Contract Periods
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
Open Style
European
Exercise Method
Automatic Only
Exercise Procedure
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-NYMEX
a) Ref Price A - Description
"NATURAL GAS-NYMEX" means that the price for a Pricing Date will be that day's Specified Price per MMBtu of natural gas on the NYMEX of the Henry Hub Natural Gas Futures Contract for the Delivery Date, stated in U.S. Dollars, as made public by the NYMEX on that Pricing Date.
b) Ref Price A - Pricing Date
Three Business Days prior to the last scheduled trading day of the NYMEX Henry Hub Natural Gas Futures Contract for the Contract Period in the basket
c) Ref Price A - Specified Price
Settlement price
d) Pricing Calendar
NYMEX
e) Ref Price A - Delivery Date
Each Contract Period in the basket
Strike Price Listing Provisions
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
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM*
08:50 - 07:00
8:40 AM
08:40

*Next Day

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

Codes

Clearing Admin Name
Henry Nat Gas
Physical
HHC
Logical
HNG
GMI(FC)
R&N A.C.N.