Nymex To Add Six-Month Differential To Calendar Spread Options Contracts

The New York Mercantile Exchange, Inc., announced that beginning on Monday it will list an additional crude oil calendar spread options contract based on a six–month differential.

The options contract will be based on the differential between the third nearby June crude oil futures contract and the fourth nearby December crude oil futures. Under the current schedule, the new contract will represent the spread between the June 2007 and December 2007 crude oil futures contracts.

Exchange President James E. Newsome said, "We are pleased to be able to expand the pool of risk management and trading tools available to market participants during this time of market uncertainty."