Contract Unit 10,000 Million Brithish Thermal Units
Minimum Price Fluctuation CME Globex: $0.0010 per MMBtu
CME ClearPort and Open Outcry: $0.0001 per MMBtu
Price Quotation Dollars and tenths of cents per MMBTU
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code CME Globex: LN1,LN2,LN3,LN4,LN5
CME ClearPort: LN1,LN2,LN3,LN4,LN5
Clearing: LN1,LN2,LN3,LN4,LN5
Listed Contracts 4 consecutive weeks
Termination Of Trading Option expires on Friday. If the Friday of the listing is a scheduled Exchange holiday, the option shall terminate on the first Business Day immediately preceding the Friday. However, if the first Business Day immediately preceding the Friday is the expiration of a Natural Gas monthly option, the weekly option shall not be listed for trading.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1006
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Exercise Style European (No contrary instructions)
Settlement Method Deliverable
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