- Trading Screen Product Name
- NG LD1 Futures
- Trading Screen Hub Name
- Henry Cal 1x
- Commodity Code
- Settlement Method
Exercise into Underlying Futures Contract
- Contract Size
- 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
- Exercise Method
- 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
- 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
- d) Pricing Calendar
- 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
- Clearing Venues