| PJM West Hub RT 50 MW Off-Peak Options | |||||
|---|---|---|---|---|---|
| Underlying Futures | PJM Western Hub Real-Time Off-Peak Calendar-Month 5 MW Futures (N9) | ||||
| Product Symbol | N9P | ||||
| Venue | CME ClearPort and 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 | 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 | Current year plus next five 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. | ||||