Chicago Mercantile Exchange Hurricane Index
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Chicago Mercantile Exchange Hurricane Index
The Chicago Mercantile Exchange Hurricane Index (CMEHI) is an index which describes the potential for damage from an Atlantic hurricane in the United States. The CMEHI is used as the basis for trading hurricane futures and options on the Chicago Mercantile Exchange (CME). It is very similar to the Hurricane Severity Index, which also factors both size and intensity of a hurricane. Index calculation The CMEHI takes as input two variables: the maximum sustained wind speed of a hurricane in miles per hour and the radius to hurricane-force winds of a hurricane in miles (i.e. how far from the center of the hurricane winds of 74 mph or greater are experienced). If the maximum sustained wind speed is denoted by ''V'' and the radius to hurricane-force winds is denoted by ''R'' then the CMEHI is calculated as follows: : \text = \left ( \frac \right )^3 + \frac\left ( \frac \right ) \left ( \frac \right )^2 where the subscript ''0'' denotes reference values. For use on the CME, the r ...
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North Atlantic Tropical Cyclone
An Atlantic hurricane is a type of tropical cyclone that forms in the Atlantic Ocean primarily between June and November. The terms "hurricane", "typhoon", and "tropical cyclone" can be used interchangeably to describe this weather phenomenon. These storms are continuously rotating around a low pressure center, which causes stormy weather across a large area, which is not limited to just the eye of the storm. They are organized systems of clouds and thunderstorms that originate over tropical or subtropical waters and have closed low-level circulation, and should not be confused with tornadoes, which are another type of cyclone. In the North Atlantic and the Eastern Pacific, the term hurricane is used, whereas ''typhoon'' is used in the Western Pacific near Asia. The more general term ''cyclone'' is used in the rest of the ocean basins, namely the South Pacific and Indian Ocean. Tropical cyclones can be categorized by intensity. ''Tropical storms'' have one-minute maximum susta ...
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Florida
Florida ( ; ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders the Gulf of Mexico to the west, Alabama to the northwest, Georgia (U.S. state), Georgia to the north, the Atlantic Ocean to the east, the Straits of Florida to the south, and The Bahamas to the southeast. About two-thirds of Florida occupies a peninsula between the Gulf of Mexico and the Atlantic Ocean. It has the List of U.S. states by coastline, longest coastline in the contiguous United States, spanning approximately , not including its many barrier islands. It is the only state that borders both the Gulf of Mexico and the Atlantic Ocean. With a population of over 23 million, it is the List of U.S. states and territories by population, third-most populous state in the United States and ranks List of states and territories of the United States by population density, seventh in population density as of 2020. Florida spans , ranking List of U.S. states ...
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Hurricane Bonnie (1998)
Hurricane Bonnie was a tropical cyclone that made landfall in North Carolina, inflicting severe crop damage. The second named storm, first hurricane, and first major hurricane of the 1998 Atlantic hurricane season, Bonnie developed from a tropical wave that emerged off the coast of Africa on August 14. The wave gradually developed, and the system was designated a tropical depression on August 19. The depression began tracking towards the west-northwest, and became a tropical storm the next day. On August 22, Bonnie was upgraded to a hurricane, with a well-defined Eye (cyclone), eye. The storm peaked as a Category 3 hurricane on the Saffir-Simpson Hurricane Scale, and around the same time, the storm slowed and turned more towards the north-northwest. A large and powerful cyclone, Bonnie moved ashore in North Carolina early on August 27, slowing as it turned northeast. After briefly losing hurricane status, the storm moved offshore and regained Category 1-force ...
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Louisiana
Louisiana ( ; ; ) is a state in the Deep South and South Central regions of the United States. It borders Texas to the west, Arkansas to the north, and Mississippi to the east. Of the 50 U.S. states, it ranks 31st in area and 25th in population, with roughly 4.6 million residents. Reflecting its French heritage, Louisiana is the only U.S. state with political subdivisions termed parishes, which are equivalent to counties, making it one of only two U.S. states not subdivided into counties (the other being Alaska and its boroughs). Baton Rouge is the state's capital, and New Orleans, a French Louisiana region, is its most populous city with a population of about 363,000 people. Louisiana has a coastline with the Gulf of Mexico to the south; a large part of its eastern boundary is demarcated by the Mississippi River. Much of Louisiana's lands were formed from sediment washed down the Mississippi River, leaving enormous deltas and vast areas of coastal marsh a ...
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1997 Atlantic Hurricane Season
The 1997 Atlantic hurricane season was a below-average hurricane season. It officially began on June 1, and lasted until November 30 of that year. These dates conventionally delimit the period of each year when most tropical cyclones form in the Atlantic basin. The 1997 season was fairly inactive, with only seven named storms forming, with an additional tropical depression and an unnumbered subtropical storm. It was the first time since the 1961 season that there were no active tropical cyclones in the Atlantic basin during the entire month of August—historically one of the more active months of the season—a phenomenon that would not occur again until 2022. A strong El Niño is credited with reducing activity in the Atlantic, while increasing the number of storms in the eastern and western Pacific basins to 19 and 26 storms, respectively. As is common in El Niño years, tropical cyclogenesis was suppressed in the tropical latitudes, with only two becoming tr ...
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Hurricane Danny (1997)
Hurricane Danny was the only hurricane to make landfall in the United States during the 1997 Atlantic hurricane season, and the second hurricane and fourth tropical storm of the season. The system became the earliest-formed fifth tropical or Subtropical cyclone, subtropical storm of the Atlantic season in history when it attained Saffir-Simpson Hurricane Scale, tropical storm strength on July 17, and held that record until the 2005 Atlantic hurricane season when Hurricane Emily (2005), Tropical Storm Emily broke that record by several days. Like the previous four tropical or Subtropical cyclone, subtropical cyclones of the season, Danny had a non-tropical origin, after a Trough (meteorology), trough spawned convection that entered the Sea surface temperature, warm waters of the Gulf of Mexico. Danny was guided northeast through the Gulf of Mexico by two high pressure areas, a rare occurrence in the middle of July. After making landfall on the Gulf Coast, Danny tracked across the s ...
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Hurricane Hortense
Hurricane Hortense was the first tropical cyclone to make landfall in Guadeloupe and Puerto Rico since Hurricane Hugo in 1989, and the second most intense hurricane during the 1996 Atlantic hurricane season. The eighth tropical cyclone, eighth named storm, and sixth hurricane of the season, Hortense developed on September 3 from a tropical wave in the central Atlantic Ocean. Initially a tropical depression, it headed westward without significant strengthening for four days due to unfavorable upper-level winds. While nearing the Lesser Antilles upper-level winds decreased, allowing the depression to become Tropical Storm Hortense on September 7. Hortense crossed Guadeloupe on September 8 and entered the Caribbean Sea. By the following day, it was upgraded to a hurricane while curving northwestward. Hortense made landfall in Puerto Rico on September 9 and brushed the Dominican Republic shortly thereafter. After re-entering the Atlantic, Hortense began to substan ...
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Hurricane Fran
Hurricane Fran caused extensive damage in the United States in early September 1996. The sixth named storm, fifth hurricane, and third major hurricane of the 1996 Atlantic hurricane season, Fran developed from a tropical wave near Cape Verde on August 23. Due to nearby Hurricane Edouard, the depression remained disorganized as it tracked westward, though it eventually intensified into Tropical Storm Fran on August 27. While heading west-northwestward, Fran steadily strengthened into a hurricane on August 29, but weakened back to a tropical storm on the following day. On August 31, Fran quickly re-intensified into a hurricane. By September 2, Fran began to parallel the islands of the Bahamas and slowly curved north-northwestward. Early on September 5, Fran peaked as a Category 3 hurricane. Thereafter, Fran weakened slightly, before it made landfall near Cape Fear, North Carolina early on September 6. The storm rapidly weakened inland and was only a tropical depression later t ...
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North Carolina
North Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, South Carolina to the south, Georgia (U.S. state), Georgia to the southwest, and Tennessee to the west. The state is the List of U.S. states and territories by area, 28th-largest and List of U.S. states and territories by population, 9th-most populous of the List of states and territories of the United States, United States. Along with South Carolina, it makes up the Carolinas region of the East Coast of the United States, East Coast. At the 2020 United States census, 2020 census, the state had a population of 10,439,388. Raleigh, North Carolina, Raleigh is the state's List of capitals in the United States, capital and Charlotte, North Carolina, Charlotte is its List of municipalities in North Carolina, most populous and one of the fastest growing cities in the United States. The Charl ...
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1996 Atlantic Hurricane Season
The 1996 Atlantic hurricane season had the most major hurricanes since 1950, which are Category 3 or higher on the Saffir-Simpson scale. The season was above-average, featuring a total of thirteen named storms, nine hurricanes, and six major hurricanes. The season officially began on June 1, 1996 and ended on November 30, 1996, dates which conventionally delimit the period of each year when most tropical cyclones form in the Atlantic basin. The season's first tropical cyclone, Tropical Storm Arthur, developed on June 17, while the final cyclone, Hurricane Marco dissipated on November 26. The most intense hurricane, Edouard, was a powerful Cape Verde-type hurricane that affected portions of the Mid-Atlantic states and New England. The season featured nine tropical cyclone landfalls, including six hurricanes, one of which was a major hurricane. In total, six major hurricanes formed during the 1996 Atlantic hurricane season—the highest number pr ...
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Hurricane Bertha (1996)
Hurricane Bertha was an intense and early-forming major hurricane that affected areas from the Leeward Islands to the United States in July of the 1996 Atlantic hurricane season. The second named storm, first hurricane, and first major hurricane during the season, Bertha originated from a tropical wave that moved off the coast of Africa in early July. Steadily organizing while moving generally towards the west, the disturbance was designated as a tropical depression at 0000 UTC on July 5, and was further upgraded to a tropical storm by 1200 UTC later that day. Over the next few days, continued intensification occurred, and Bertha became a Category 1 hurricane on the Saffir-Simpson hurricane scale, the first hurricane of the season, prior to moving through the northern Leeward Islands. Late on July 8, a period of rapid intensification began, and at 0600 UTC on July 9, Bertha reached its peak intensity with maximum sustained winds of with a minimum barometric pressure of . Moving ...
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Hurricane Opal
Hurricane Opal was a large and powerful tropical cyclone that caused severe and extensive damage along the northern Gulf Coast of the United States in October 1995. The fifteenth named storm, ninth hurricane and strongest tropical cyclone of the unusually active 1995 Atlantic hurricane season, Opal developed from the interaction of a tropical wave and a low-pressure area near the Yucatán Peninsula on September 27 as Tropical Depression Seventeen. The depression crossed the Yucatán Peninsula and intensified into a tropical storm on September 30. Opal intensified into a hurricane on October 2 after entering the Gulf of Mexico. The cyclone turned northeastward and strengthened significantly. By October 4, Opal was an intense , Category 4 hurricane. With a minimum pressure of , Hurricane Opal was the most intense Category 4 Atlantic hurricane on record. However, the cyclone abruptly weakened to a low-end Category 3 hurricane prior to making landfall o ...
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