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Chicago Natural Gas (Platts IFERC) "Pipe" Options
Type
| Chicago Natural Gas (Platts IFERC) "Pipe" Option | |||||
|---|---|---|---|---|---|
| Underlying Futures | Synthetic Futures Code: XO Chicago Basis (Platts IFERC) Futures (NB) / Henry Hub Natural Gas Futures (NN) |
||||
| Product Symbol | PY | ||||
| Venue | CME ClearPort and Open Outcry (New York) | ||||
| Hours (All Times are New York Time/ET) |
CME Globex: | Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT) | |||
| Open Outcry: | Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT) | ||||
| Contract Unit | On expiration of a call option, the value will be the difference between the mathematical sum of the settlement prices for the underlying Chicago Basis (Platts IFERC) Futures and Henry Hub Natural Gas Futures and the strike price multiplied by 2,500 MMBtu, or zero, whichever is greater. On expiration of a put option, the value will be the difference between the strike price and the sum of the settlement prices for the underlying Chicago Basis (Platts IFERC) Futures and Henry Hub Natural Gas Futures multiplied by 2,500 MMBtu, or zero, whichever is greater. | ||||
| Price Quotation | U.S. dollars and cents per mmBtu. | ||||
| Option Style | European | ||||
| Minimum Fluctuation | $0.0001 per MMBtu | ||||
| Expiration of Trading | Trading ends on the termination day of the underlying basis future. | ||||
| Listed Contracts | 72 consecutive months. | ||||
| Strike Prices | Five strike prices in increments of $0.01 per mmBtu above and below the at-the-money strike price Strike price boundaries are adjusted according to futures price movements. | ||||
| Settlement Type | Financial | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 517A | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||
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