Wednesday, May 6, 2009
Markets for the 2009 Atlantic Hurricane Season have now been opened. Two markets have been listed: the last named storm of the season, and the first US landfall of a cat 3 (or higher storm) to be in a particular state.
Last Named Storm of 2009 Atlantic Hurricane Season
A contract will settle (expire) at 100 ($10.00) if the storm specified in the contract is the last of the 2009 Atlantic Hurricane Season.
A contract will settle (expire) at 0 ($0.00) if the storm specified in the contract is not the last of the 2009 Atlantic Hurricane Season.
Expiry will be based on information published by the National Weather Service Hurricane Centre at the National Oceanic and Atmospheric Administration (NOAA). Further information can be found HERE.
The Atlantic Hurricane Season is from June 1st 2008 until November 30th 2008. A storm does not have to make landfall to be named.
First US Landfall during 2009 Atlantic Hurricane Season
A contract will settle (expire) at 100 ($10.00) if a Category 3 (or higher) storm makes first landfall in the United States in the state specified in the contract during the the 2009 Atlantic Hurricane Season.
A contract will settle (expire) at 0 ($0.00) if a Category 3 (or higher) storm DOES NOT make first landfall in the United States in the state specified in the contract during the the 2009 Atlantic Hurricane Season.
Expiry will be based on information published by the National Weather Service Hurricane Centre at the National Oceanic and Atmospheric Administration (NOAA). Further information can be found HERE.
For determining landfall the wall of the hurricane eye must make landfall in the specified state. For expiry purposes the eye of a hurricane is defined as the circular area of relative calm at the centre of a cyclone that is used by the National Weather Service to pinpoint the co-ordinates of a storm.
Landfall will only be considered when the wall of the hurricane eye makes landfall on the mainland of a specific state. Barrier islands, such as (but not limited to) the Florida Keys and Outer Banks, are not considered to be the mainland of a state.
A storm may still make first landfall in the United States after having made landfall in another country. For example, if a storm makes landfall in Mexico and then moves north into Texas then for expiry purposes first US landfall will be considered to be in Texas.
If a storm makes first landfall in two states at the same time then the contract for each state will expire at 50.
Please contact the exchange by emailing help@intrade.com if you have any questions regarding these markets before you place a trade.