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PJM Western Hub Real-Time Off-Peak Calendar-Month 5 MW Options
 


Type
 
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.
 
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