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PJM PEPCO Zone Peak Calendar-Month Day-Ahead LMP Swap Options
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Type
 
PJM PEPCO Zone Peak Calendar-Month Day-Ahead LMP Swap Option
Underlying Futures PJM PEPCO Zone Peak Calendar-Month Day-Ahead LMP Swap Futures (R8)
Product Symbol PEP
Venue CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)		 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 One PJM PEPCO Zone Peak Calendar-Month Day-Ahead LMP Swap Futures
Price Quotation U.S. dollars and cents per MWh.
Option Style American
Minimum Fluctuation $0.01 per MWh
Expiration of Trading 2nd to last business day of the calendar month prior to the contract month
Listed Contracts Balance of current year plus 5 years
Strike Prices Five strike prices in increments of $0.50 per MWh above and below the at-the-money strike price. Strike price boundaries are adjusted according to price movements of underlying futures contract.
Settlement Type Physical - Exercise into Futures
Position Limits NYMEX Position Limits
Rulebook Chapter 924
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.