Beginning on Sunday, August 8, 2010, for trade date Monday, August 9, 2010, the New York Mercantile Exchange, Inc. (NYMEX) will list the Henry Hub Natural Gas Quadultimate Option (HHQ) for trading on the NYMEX trading floor and for clearing through CME ClearPort.
The option contract is listed with NYMEX, and subject to, the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc. The specifications of the option contract are provided below.
COMMODITY CODE: HHQ.
UNDELYING FUTURES: Henry Hub Natural Gas Futures (NG).
RULE CHAPTER: 374.
OPTION CLASSIFICATION: American-style option.
CONTRACT SIZE: 10,000 MMBtu.
EXPIRATION DATE: The option expires three (3) business days prior to the expiration of the underlying futures (NG) contract.
TRADING UNIT: A Put Option contract represents an option to assume a short position in the underlying Henry Hub Natural Gas Futures. A Call option represents an option to assume to a long position in the underlying Henry Hub Natural Gas Futures.
STRIKE PRICE INTERVALS: Ten strike prices in increments of $0.05 per MMBtu above and below the at-the-money strike price for a total of at least 21 strike prices. Strike price boundaries are adjusted according to futures price movements.
MINIMUM PRICE FLUCTUATION: $0.0001 (1¢) per MMBtu.
INITIAL CONTRACT MONTH: September 2010 contract month.
TRADING MONTHS: Contract will be listing for balance of current year plus next 12 consecutive years.
TRADING HOURS:
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 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT).
FEE SCHEDULE
(½ Turn) |
Member |
Cross Division (Blended) |
Non-Member |
CME ClearPort |
$0.70 |
|
$1.45 |
|
|
|
|
Open Outcry |
|
|
|
Day Trade |
$0.45 |
|
N/A |
O/N Trade |
$0.70 |
$0.95 |
$1.45 |
EOO |
$0.70 |
$0.95 |
$1.45 |
Cash Settlement |
N/A |
N/A |
N/A |
Clearing Transaction |
Member/ Lessee |
Non-Member |
House Account |
Customer Account |
Futures Resulting from Exercise and Assignment |
$0.70 |
$1.45 |
||
Option Exercise/Assignment Notice |
$0.40 |
$0.85 |