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National Balancing Point (NBP) Henry Hub Basis Options
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Type
 
National Balancing Point (NBP) Henry Hub Basis Option
Underlying Futures National Balancing Point (NBP) Henry Hub Basis Swap Futures (E2)
Product Symbol V1
Venue CME ClearPort and Open Outcry (New York)
Hours
(All Times are New York Time/ET)		 CME ClearPort: 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 settlement price of the underlying National Balacing Point (NBP) Henry Hub Basis Swap 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 National Balancing Point (NBP) Henry Hub Basis Swap 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 $0.001 per MMBtu
Expiration of Trading Trading ends on the the termination day of the underlying basis swap.
Listed Contracts 18 consecutive months . An additional three consecutive months will be added following the termination of trading of the ICE UK Natural Gas Futures Contract month that is the ending month of each calendar quarter (March, June, September, December)
Strike Prices Ten 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 333
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.