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MichCon Natural Gas (Platts IFERC) Basis Option Contract Specs

Options
Contract Unit On expiration of a call option, the value will be the difference between the settlement price of the underlying MichCon Basis (Platts IFERC) 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 settlement price of the underlying MichCon Basis (Platts IFERC) Futures multiplied by 2,500 MMBtu, or zero, whichever is greater.
Minimum Price Fluctuation $0.0001 per MMBtu
Price Quotation U.S. dollars and cents per mmBtu.
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Open Outcry: Monday - Friday 9:00 a.m. - 2:30 p.m. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code CME Globex: A4W
CME ClearPort: 4W
Open Outcry: 4W
Clearing: 4W
Listed Contracts Monthly contracts listed for the current year and the next 3 calendar years.Monthly contracts for a new calendar year will be added following the termination of trading in the December contract of the current year.
Termination Of Trading Trading ends on the the termination day of the underlying basis future.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 619B
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing Procedures Table
Exercise Style European
Settlement Method Financially Settled
Underlying MichCon Natural Gas (Platts IFERC) Basis Futures