NYMEX To List New Daily Crude Oil And Natural Gas Options

The New York Mercantile Exchange, Inc. today announced that it will list two daily options on first nearby crude oil futures and first nearby natural gas futures beginning on Monday, October 9. These options will be available for trading on the NYMEX floor and solely for clearing on the NYMEX ClearPort® clearing platform.

The crude oil daily options contract, commodity code CD, will be listed on the NYMEX ClearPort clearing platform with crude oil (CL) as the underlying futures contract. For floor trades, in addition to the crude oil (CL) contract, the WTI bullet swap (WS) contract can also be traded in appropriate ratios with the options contract. The contract size will be 1,000 barrels and underlying margin level set at $3,000. Strike prices will be listed at $.01 intervals. Only strikes at $0.50 intervals will be added after 2.30 P.M on expiration day.

The natural gas daily option, commodity code KD, will be listed on the NYMEX ClearPort clearing platform with natural gas (NG) as the underlying contract. For floor trades, in addition to the natural gas (NG) contract, the Henry Hub natural gas swap (NN), penultimate swap (NP), and swing swap contracts (SN) can also be traded on the trading floor, in appropriate ratios with the options contract. The contract size will be 10,000 million British thermal units and underlying margin level set at $8,000. Strike prices will be listed at $.001 intervals. Only strikes at $0.05 intervals will be added after 2.30 P.M on expiration day.

The contract listings will begin with the November 2006 contract month and daily options contracts will be listed for one day only.

Floor trading fees are set at $0.40 for members, $1.35 for non-members and $0.75 for COMEX members. Exchange options for options fees are $0.40 for members and $1.35 for non-members. The cash settlement fee is set at $0.90 for members and $1.15 for non-members. NYMEX ClearPort clearing fees are $1.75 for members and $2.50 for both contracts.