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Rockies Natural Gas (Platts IFERC) "Pipe" Option Contract Specs

Options
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 Rockies 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 Rockies Basis (Platts IFERC) Futures and Henry Hub Natural Gas 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. - 5:15 p.m. New York time/ET (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 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. - 5:15 p.m. New York time/ET (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)
Product Code CME Globex: AZR
CME ClearPort: ZR
Open Outcry: ZR
Clearing: ZR
Listed Contracts CME Globex: 1 consecutive month
CME Clearport and Open Outcry: 72 consecutive months.
Termination Of Trading Trading ends on the termination day of the underlying basis future.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 524A
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval 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.
Exercise Style European
Settlement Method Financially Settled
Underlying Rockies Natural Gas (Platts IFERC) Fixed Price Futures