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Natural Gas Option (European) Contract Specs

Options
Contract Unit 10,000 MMBtu
Minimum Price Fluctuation CME Globex: 0.001 per MMBtu = $10.00
CME ClearPort: 0.0001 per MMBtu = $1.00
Price Quotation U.S. dollars and cents per MMBtu
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code CME Globex: LNE
CME ClearPort: LN
Clearing: LN
Listed Contracts Monthly contracts listed for the current year and the next 12 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year..
Termination Of Trading Trading terminates on the 4th last business day of the month prior to the contract month (1 business day prior to the expiration of the underlying futures corresponding contract month).
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 560
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Exercise Style European
Settlement Method Financially Settled
Underlying Henry Hub Natural Gas Futures

About Natural Gas

Henry Hub Natural Gas (NG) Futures allow market participants significant hedging activity to manage risk in the highly volatile natural gas price, which is driven by weather-related demand. They also provide efficient transactions in and out of positions. Natural gas futures are:

  • The third-largest physical commodity futures contract in the world by volume
  • Widely used as a national benchmark price for natural gas, which continues to grow as a global and U.S. energy source
  • An independent, stand-alone commodity

Things to know about the contracts:

  • Natural gas futures prices are based on delivery at the Henry Hub in Louisiana.
  • Traded electronically on CME Globex and off-exchange for clearing only as an EFS, EFP or block trade through CME ClearPort.
  • Options types include American, calendar spread, European and daily.

Read more about Henry Hub Natural Gas (NG) Futures

View our Henry Hub Natural Gas Futures Toolkit