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Natural Gas (Henry Hub) Last-day Financial 3 Month Spread Options Contract Specs

Options
Contract Unit A Henry Hub Natural Gas Financial Calendar Spread Put Option traded on the Exchange represents the cash difference between the strike price and the settlement price of the second expiring Henry Hub Natural Gas Futures in the spread less the settlement price of the first expiring Henry Hub Natural Gas Futures in the spread multiplied by 10,000 MMBtu, or zero, whichever is greater. A Henry Hub Natural Gas Financial Calendar Spread Call Option traded on the Exchange represents the cash difference between the settlement price of the first expiring Henry Hub Natural Gas Futures in the spread less the settlement price of the second expiring Natural Gas Futures in the spread and the strike price multiplied by 10,000 MMBtu, or zero, whichever is greater.
Minimum Price Fluctuation $0.001 per MMBtu
Price Quotation U.S. dollars and cents per mmBtu.
Trading Hours 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: G3B
CME ClearPort: G3
Clearing: G3
Listed Contracts 3- Month Spreads listed for 36 consecutive months
Termination Of Trading Monthly contracts listed for 12 consecutive months plus an additional January and October contract.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 399
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Exercise Style European
Settlement Method Financially Settled
Underlying Natural Gas (Henry Hub) Last-day Financial Futures

About Natural Gas

Henry Hub Natural Gas (NG) Futures allow market participants significant hedging activity to manage risk in the highly volatile natural gas price, which is driven by weather-related demand. They also provide efficient transactions in and out of positions. Natural gas futures are:

  • The third-largest physical commodity futures contract in the world by volume
  • Widely used as a national benchmark price for natural gas, which continues to grow as a global and U.S. energy source
  • An independent, stand-alone commodity

Things to know about the contracts:

  • Natural gas futures prices are based on delivery at the Henry Hub in Louisiana.
  • Traded electronically on CME Globex and off-exchange for clearing only as an EFS, EFP or block trade through CME ClearPort.
  • Options types include American, calendar spread, European and daily.

Read more about Henry Hub Natural Gas (NG) Futures