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MRCI's Howe's Open Limit Table

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MRCI's Howes Open Limit Table
A price at the limit of a tradable daily range, once reached, becomes an objective which the market will again test and ultimately exceed. While a more complete explanation is available on our Howe's Limit Rule page, the table below, updated daily, lists active futures contracts which have reached but not exceeded a limit price within the last year. Each contract, its current settlement price, and its change from the previous close are provided along with those limit prices and the dates upon which they were left hanging. Historical limit studies are also available.

Special Comments:
Natural Gas - Given the recent extreme volatility and the likelihood for some degree of it to continue, we here quote NYMEX rules for Maximum Daily Price Fluctuation in its futures (***as recently revised***):

  • "$1.50 per MMBtu ($15,000 per contract) for the first two months. Initial back-month limits of $0.30 (30 cents) per MMBtu rise to $0.60 (60 cents) per MMBtu if the previous day's settlement price in any back month is at the $0.30 (30-cent) limit. In the event of a $0.75 (75-cent) per MMBtu move in either of the first two contract months, limits on all months become $1.50 per MMBtu in all months from the limit in place in the direction of the move."

Such complexity prohibits tracking Natural Gas in our daily report.

MRCI Online subscribers can see more detailed market commentary regarding Howe's Limit Rule, by visiting the MRCI Online Weekly Update

Non-subscribers can visit a sample of the MRCI Online Weekly Update:
http://www.mrci.com/web/sample-pages/mrci-online-update-html

Futures Hanging Limits Feb 03, 2012
Market Info Up Limit Down Limit
Market Close Change Today Date Price Date Price
JOH2 201.45 -2.55   01/26/12 221.15 01/12/12 178.10
JOK2 194.85 -3.75       01/12/12 174.60
JON2 188.90 -2.95       01/12/12 173.60
JOU2 187.00 -1.85   01/20/12 192.15 01/12/12 172.50
CN2 655.50 +2.00       03/15/11 568.25
CU2 604.75 +3.25       03/15/11 530.00
OH2 314.25 +6.25       01/12/12 278.50
RRH2 13.88 +0.23       02/01/12 13.50
RRK2 14.15 +0.24       02/01/12 13.77
RRU2 14.45 +0.29   10/31/11 16.77    
RRX2 14.64 +0.26       12/28/11 14.15
CTH2 96.34 +2.13   01/17/12 99.47    
LHG2 87.535 -0.045       11/16/10 75.100
LHM2 98.100 -0.650       05/23/11 89.700
LHN2 98.800 -0.350       06/30/11 91.600
LHQ2 98.285 +0.055       06/30/11 90.550
LBH2 262.5 +9.7   09/08/11 311.0 01/12/12 233.4
LBK2 265.2 +4.4   09/08/11 316.0    
LBN2 275.2 +2.8   09/20/11
09/08/11		 297.0
326.0		    
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