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Help on Heating Oil (HO)
Heating Oil Futures are traded on the New York Mercantile Exchange.
The price of Heating Oil is quoted in cents per gallon. The standard
contract size is 42,000 gallons. The minimum trading increment
is 0.01 cents.
Heating Oil prices are read as follows:
A price of 38.70 would be read as $0.3870 per gallon or 38.70
cents per gallon.
A move from 38.70 to 39.70 would be a difference of $420.00 excluding
commissions and fees. The minimum change is 0.01 cents or $4.20
Formula: $0.3970 - $0.3870= $0.0100 *42,000 = $420.00
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