| PJM 50 MW Calendar-Month LMP Option | |||||
|---|---|---|---|---|---|
| Underlying Futures | PJM Peak Calendar-Month LMP Futures (JM) | ||||
| Product Symbol | PML | ||||
| Venue | CME Globex, CME ClearPort, Open Outcry (New York) | ||||
| Hours (All Times are New York Time/ET) |
CME Globex: | Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT) | |||
| CME ClearPort: | Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT) | ||||
| Open Outcry: | Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT) | ||||
| Contract Unit | Twenty (20) PJM Peak Calendar-Month LMP Futures contracts. | ||||
| Price Quotation | U.S. dollars and cents per megawatt hour. | ||||
| Option Style | American | ||||
| Minimum Fluctuation | $0.01 per megawatt hour | ||||
| Expiration of Trading | Trading ends two business days prior to the underlying futures month. | ||||
| Listed Contracts | The current year plus the next five calendar years. A new calendar year will be added following the termination of trading in the December contract of the current year. | ||||
| Strike Prices | Twenty strike prices in increments of $0.50 per megawatt hour above and below the at-the-money strike price, and the next 10 strike prices in increments of $1.00 above the highest and below the lowest existing strike prices for a total of at least 61 strike prices. The at-the-money strike price is nearest to the previous day's close of the underlying futures contract. Strike price boundaries are adjusted according to the futures price movements. | ||||
| Settlement Type | Physical - Exercise into Futures | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 312 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||