The product type long descriptions below will fall under the new product 
types US Crude Fin Option Call and US Crude Fin Option Put .  Credit (Tom 
Moran) has approved copying the profiles for the new product types from the 
following:

 US Crude WTI Fin Swap

Please respond by 10 a.m. on Wednesday, March 21.

Thank you.  Lisa
---------------------- Forwarded by Lisa Lees/HOU/ECT on 03/20/2001 03:05 PM 
---------------------------
   


From:  Melba Lozano                                                           
  03/15/2001 02:04 PM	
	
	
	                           
	

To: Mark Taylor/HOU/ECT@ECT, Jeff Blumenthal/HOU/ECT@ECT, Tom Moran/HOU/ECT, 
Bjorn Hagelmann/HOU/ECT, Shifali Sharma/NA/Enron, Stephen H Douglas/HOU/ECT, 
Susan Musch/ENRON_DEVELOPMENT
cc: Robert B Cass/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON, Chris 
Walker/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tana 
Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, 
Carlos Alatorre/NA/Enron@Enron, Pavel Zadorozhny/HOU/ECT@ECT, Tara 
Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT 
Subject: Approval needed for US Crude Fin Opt Call and Put

Your review and approval of the following product type in the EOL Datamanager 
is needed (for directions on approval , please see steps for approval at the 
bottom of this e-mail). If you have any questions please call me at ext. 
58986.   

Trader: Pavel Zadorozhny

EXAMPLES:
US Crude Fin Opt NYMEX-WTI EC___  May01  USD/bl/m

A financial Option Transaction with Enron North America Corp., under which 
the Seller receives the Premium and the Buyer receives the Cash Settlement 
Amount. Each calendar month during the Term of the Transaction will be a 
Determination Period, provided that if the Term of the Transaction is less 
than one calendar month the Determination Period shall be the Term of the 
Transaction.  The Notional Quantity per Determination Period shall be 
calculated from the volume submitted by Counterparty on the Website in 
accordance with the unit of measure.  The Premium shall equal the product of 
(i) the price submitted by Counterparty via the Website, multiplied by (ii) 
the Notional Quantity per Determination Period, multiplied by (iii) the 
number of Determination Periods during the Term of the Transaction. The 
Payment Date for the Premium shall be 2 business days after the Trade Date of 
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be 
5 business days after the Cash Settlement Amount is determinable. The Cash 
Settlement Amount shall be the greater of (i) zero, or (ii) the product of 
(a) the Notional Quantity per Determination Period, multiplied by (b) the 
Index minus the Strike Price.The Option style and type shall be a European 
Call ("EC").  Automatic Exercise is Applicable.  The Strike Price for the 
Transaction shall be as set forth on the Website.

The term of the Transaction shall be from the Effective Date of 01 May 2001 
to the Termination Date of 31 May 2001.

The Exercise Period(s) shall be the expiration day of the NYMEX Light, Sweet, 
Crude Oil Options Contract for the applicable Determination Period. The Index 
for each Exercise Period shall be the settlement price of the NYMEX Light, 
Sweet, Crude Oil Futures Contract for the applicable Determination Period on 
the expiration day of the NYMEX Light, Sweet, Crude Oil Options Contract for 
the applicable Determination Period.

The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the price is quoted shall be Barrels per 
month.



Put
A financial Option Transaction with Enron North America Corp., under which 
the Seller receives the Premium and the Buyer receives the Cash Settlement 
Amount. Each calendar month during the Term of the Transaction will be a 
Determination Period, provided that if the Term of the Transaction is less 
than one calendar month the Determination Period shall be the Term of the 
Transaction.  The Notional Quantity per Determination Period shall be 
calculated from the volume submitted by Counterparty on the Website in 
accordance with the unit of measure.  The Premium shall equal the product of 
(i) the price submitted by Counterparty via the Website, multiplied by (ii) 
the Notional Quantity per Determination Period, multiplied by (iii) the 
number of Determination Periods during the Term of the Transaction. The 
Payment Date for the Premium shall be 2 business days after the Trade Date of 
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be 
5 business days after the Cash Settlement Amount is determinable. The Cash 
Settlement Amount shall be the greater of (i) zero, or (ii) the product of 
(a) the Notional Quantity per Determination Period, multiplied by (b) the 
Strike Price minus the Index.  The Option style and type shall be a European 
Put ("EP").  Automatic Exercise is Applicable.  The Strike Price for the 
Transaction shall be as set forth on the Website.

The term of the Transaction shall be from the Effective Date of 01 May 2001 
to the Termination Date of 31 May 2001.

The Exercise Period(s) shall be the expiration day of the NYMEX Light, Sweet, 
Crude Oil Options Contract for the applicable Determination Period. The Index 
for each Exercise Period shall be the settlement price of the NYMEX Light, 
Sweet, Crude Oil Futures Contract for the applicable Determination Period on 
the expiration day of the NYMEX Light, Sweet, Crude Oil Options Contract for 
the applicable Determination Period.

The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the price is quoted shall be Barrels per 
month.
==============================================================================
=====

STEPS FOR APPROVAL:

click the  START button 
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD 
click the Enron Online Production Cluster "START" button  
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up 
TO APPROVE:  Right mouse click on "Approved"