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PJM West Hub 50 MW Same Day Option Contract Specs

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Contract Unit A PJM West Hub RT Same Day Put Option contract traded on the Exchange represents the cash difference between the exercise price and the settlement price of the underlying PJM Peak Calendar-Day LMP Swap Futures contract multiplied by 800 MWh, or zero, whichever is greater. A PJM West Hub RT Same Day Call Option contract traded on the Exchange represents the cash difference between the settlement price of the underlying PJM Peak Calendar-Day LMP Swap Futures contract and the exercise price multiplied by 800 MWh, or zero, whichever is greater.
Minimum Price Fluctuation $0.01 per megawatt hour
Price Quotation U.S. dollars and cents per MWh.
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Open Outcry: Monday - Friday 9:00 a.m. - 2:30 p.m. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)
Product Code CME Globex: Z01
CME ClearPort: J01
Open Outcry: J01
Clearing: J01
Listed Contracts 1 day
Termination Of Trading The contract date will coincide with the contract ticker symbol (J01-J31). For Example, J25 will indicate a contract of the 25th calendar day of a month. Trading shall cease on the referenced contract date.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1069
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures  Strike Price Listing Procedures Table
Exercise Style European
Settlement Method Financially Settled
Underlying SYNTHETIC PJM DAILY