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Panhandle Natural Gas (Platts IFERC) Basis Option Contract Specs

Options
Underlying Futures Panhandle Basis (Platts IFERC) Futures (PH)
Product Symbol CME Globex: A5K
CME ClearPort: 5K
Open Outcry: 5K
Venue CME Globex, 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)
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 Panhandle 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 Panhandle Basis (Platts IFERC) 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 the termination day of the underlying basis future.
Listed Contracts CME Clearport and Open Outcry: Balance of current year plus 36 months
CME Globex: 1 consecutive month
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 525B
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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