The NYMEX natural gas futures contract is a contract for future physical delivery of mmBtu of natural gas;
however, the vast majority of the futures positions are offset well before delivery. The natural gas futures trade in $0.001
(1/10 cent) increments, equivalent to $10 per contract.
Example of Futures
4.828 means $4.828 per mmBtu.
Natural Gas Options Quotes
The NYMEX natural gas options
contract controls mmBtu of natural gas based on the underlying futures contract. For a premium the natural gas options give
buyers the right to buy (calls) or sell (puts) a natural gas futures contract at a fixed price (strike price) for a fixed
period of time (expiration date).
Example of Options Quote:
0.441 means $.0441 per mmBtu
$.441 X 10,000 million Btus = $4,410.00