Heating Oil Futures
Heating Oil Futures: 42,000 U.S. gallons (1,000 barrels).
Heating Oil Options: One NYMEX Division heating oil futures contract.
7,000 contracts for all months combined, but not to exceed 1,000 in the
last three days of trading in the spot month or 5,000 in any one month.
Heating Oil Futures: Trading is conducted in 18 consecutive months
commencing with the next calendar month (for example, on October 2,
1998, trading occurs in all months from November 1998 through April
Options: 18 consecutive months.
Minimum Price Fluctuation
Heating Oil Futures and Options: $0.0001 (0.01¢) per gallon ($4.20 per contract).
Last Trading Day
Heating Oil Futures: Trading terminates at the close of business on the
last business day of the month preceding the delivery month.
Heating Oil Futures and Options: In dollars and cents
per gallon: for example, $0.5277 (52.77¢) per gallon.
Exercise of Options
By a clearing member to the Exchange clearinghouse not
later than 5:30 P.M., or 45 minutes after the underlying
futures settlement price is posted, whichever is later,
on any day up to and including the option’s expiration.
Margins are required for open Heating Oil futures or
positions. The margin requirement for an options purchaser
will never exceed the premium.
Futures and Options: 9:50 A.M. to 3:10 P.M., for the
open outcry session.
After-hours trading is conducted via the NYMEX ACCESS®
electronic trading system from 7 P.M. to 9 A.M. on Sundays
and 4 P.M. to 9 A.M., Mondays through Thursdays. All
times are New York time.
Heating oil is used to heat people's homes. The most
heating oil is used in the northeast. Usually, heating
oil gets more volatile as we head into the winter months.
This educational kit may help you better understand
the market. Our commodity brokers are avalable to assist
with this market or any other energy market.