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PJM West Hub RT Real-Time 50 MW Off-Peak Options Contract Specs

Options
Underlying Futures PJM Western Hub Real-Time Off-Peak Calendar-Month 5 MW Futures (N9)
Product Symbol CME Globex: NB9
CME ClearPort and Open Outcry: N9P
Venue CME Globex, CME ClearPort and Open Outcry
Hours 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 50 Megawatts hours (MWh). Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of off-peak hours in the month.
Price Quotation Prices shall be quoted in dollars and cents per MWh
Option Style American
Minimum Fluctuation $0.01 per MWh
Expiration of Trading The option contract shall expire at the close of trading two business days prior to the contract month.
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: Every month for 6 consecutive years
Strike Prices The strike price in increments of $0.50 per MWh above and below the at-the-money strike price. Strike price boundaries are adjusted according to futures price movements.
Settlement Type Physical-Exercise into underlying futures
Position Limits NYMEX Position Limits
Rulebook Chapter 1179
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.