| Notice to Members |
| Notice No. 322 11/21/2002 |
| Important Notice: Clarification on Expiration of Natural Gas Calendar Spread Options |
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| Please be advised that the Natural Gas Calendar Spread Options that exercise into a December 2002 front month will expire on Monday November 25, 2002. This expiration date is the date provided by NYMEX Rule 391.01, which provides for expiration "at the close of trading on the business day immediately preceding the expiration of the first expiring futures contract in the spread." (As indicated previously by the Exchange, because of the Thanksgiving holiday next week, the last day of trading in the December contract month for Natural Gas will be Tuesday, November 26, 2002.) The listed Natural Gas Calendar Spread Option contracts that will thus expire on Monday, November 25, 2002 include the following: IAZ02 (Dec.-Jan.); IBZ02 (Dec.-Feb.); ICZ02 (Dec.-March); IMZ02 (Dec.-June); and IZZ02 (Dec.-Dec.). This notice supersedes all previous notices regarding expiration of NYMEX Natural Gas Calendar Spread Option Contracts. |
| Should you have any questions or require any further information, please contact exchangeinfo@nymex.com |