Notice to Members
Notice No. 511 09/29/2006
Listing New Crude Oil and Natural Daily Options on NYMEX Floor for Trading and on NYMEX ClearPort® for Clearing
The Exchange intends to list two Daily Options on First Nearby Crude Oil Futures and First Nearby Natural Gas Futures on Monday, October 9, 2006. The listing will begin with November 2006 contract month for both options. For Floor trades, NYMEX ClearPort Futures Henry Hub Natural Gas Swap (NN), the Henry Hub Penultimate Swap (NP), and Henry Hub Swing Swap (SN) can be traded in open outcry in appropriate ratios with the Daily Natural Gas option. With the introduction of One Day Crude Oil options, WTI Bullet Swaps (WS) can be traded in appropriate ratios with the option. The following summarizes the main characteristics of these options: Crude Oil Daily Option Trading Symbol: CD Trading Unit: A Daily Crude Oil put option contract traded on the Exchange represents the cash difference between the exercise price and the settlement price of the first nearby settlement price of Crude Oil futures multiplied by 1,000, or zero, whichever is greater. A Daily Crude Oil call option contract traded on the Exchange represents the cash difference between the settlement price of the first nearby settlement price of Crude Oil futures contract and the exercise price multiplied by 1,000, or zero, whichever is greater. The Underlying Symbol: CL Underlying Margin Level: $3,000 for all strike prices Contract Size: 1000 Barrels Strike Price Intervals: Strike Prices will be listed at $.01 intervals. Only strikes at $0.50 intervals will be added after 2:30 P.M on expiration day. Expiration Date: A Daily Crude Oil option contract on the Exchange shall expire at the close of trading on the business day that it was initially listed on. Fee Schedule: Floor Trade   Member: $0.40 Non-Member $1.35 Blended $0.75 EOO   Member: $0.40 Non-Member $1.35 Cash Settlement   Member: $0.90 Non-Member $1.15 NYMEX ClearPort® Clearing:   Member: $1.75 Non-Member $2.50 Natural Gas Daily Option Trading Symbol: KD Trading Unit: A Daily Natural Gas put option contract traded on the Exchange represents the cash difference between the exercise price and the settlement price of the first nearby settlement price of Natural Gas futures multiplied by 10,000, or zero, whichever is greater. A Daily Natural Gas call option contract traded on the Exchange represents the cash difference between the settlement price of the first nearby settlement price of Natural Gas futures contract and the exercise price multiplied by 10,000, or zero, whichever is greater. The Underlying Symbol: NG Underlying Margin Level: $8,000 for all strike prices Strike Price Intervals: Strike Prices will be listed at $.001 intervals. Only $0.05 intervals will be added after 2:30 PM. Contract Size: 10,000 million British thermal units (mmBtu) Fee Schedule: Floor Trade   Member: $0.40 Non-Member $1.35 Blended $0.75 EOO   Member: $0.40 Non-Member $1.35 Cash Settlement   Member: $0.90 Non-Member $1.15 NYMEX ClearPort® Clearing:   Member: $1.75 Non-Member $2.50
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com