NYMEX unleaded gasoline futures contract is a contract for future physical delivery of 42,000 gallons of unleaded gasoline;
however, the vast majority of the futures positions are offset well before delivery. The unleaded gasoline futures trade in
$0.0001 (1/100 cent) increments, equivalent to $4.20 per contract.
Example of Futures
1.7450 means $1.745 per gallon.
Gasoline Options Quotes
The NYMEX unleaded gasoline options contract controls
42,000 gallons of unleaded gasoline based on the underlying futures contract. For a premium the unleaded gasoline options
give buyers the right to buy (calls) or sell (puts) a unleaded gasoline futures contract at a fixed price (strike price) for
a fixed period of time (expiration date).
Example of Options Quote:
0.0337 means $.0337 per gallon
$.0337 X 42,000 gallons = $1,415.40