Nymex To Widen Strike Price Intervals For Long-Dated Silver Options

The New York Mercantile Exchange, Inc., announced today that it intends to expand the intervals between strike prices for its silver options contracts that are at least two years away from expiration.

The Exchange will widen the intervals to $1.00 per ounce from $0.25, initially listing two strike prices above and below the at–the–money strike price, instead of six. All strike prices currently listed will remain available for trading until that contract expires. Under the terms of the NYMEX/COMEX merger agreement, this rule change will be submitted to the Commodity Futures Trading Commission, following a 10–day review period during which COMEX Division members can request a vote on the proposed change.