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Natural Gas Short-Term Options Contract Specs

Options
Contract Unit 10,000 MMBtu
Minimum Price Fluctuation 0.0001 per MMBtu = $10.00
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: U01
CME ClearPort: U01
Clearing: U01
Listed Contracts Daily contracts listed for the current day and the following four business days within a seven-calendar day period, unless that business day coincides with the expiration of a monthly Natural Gas Option in which case it is not listed.
Termination Of Trading Termination of trading coincides with the ticker symbol symbol. For example, C25 N21 coincides with a termination of trading on July 25, 2021.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1066
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