Option on Palo Verde Day-Ahead Peak Fixed Price Future65898921
ICE Futures U.S.
Option on Palo Verde Day-Ahead Peak Fixed Price Future
Description
A monthly Option on the corresponding Contract Period of the Palo Verde Day-Ahead Peak Fixed Price Future.
Market Specifications
- Trading Screen Product Name
- Peak Futures (25 MW)
- Trading Screen Hub Name
- Palo
- Contract Symbol
- PVM
- Settlement Method
- Exercise into Underlying Futures Contract
- Contract Size
- 1 MW
- Currency
- USD
- Minimum Price Fluctuation
- The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
- Listing Cycle
- Up to 50 consecutive monthly Contract Periods, or as otherwise determined by the Exchange
- Last Trading Day
- At 2:30pm EPT on the fifth Business Day prior to the first calendar day of the Contract Period
- Option Style
- American
- Exercise Procedure
- Manual on any Business Day, Automatic on Last Trading Day
Clearing Members shall provide exercise and abandon instructions to the Clearing Organization in accordance with Clearing Organization Rules.
Options which are "in the money", with respect to the average of the Reference Price A prices, exercise automatically into the Underlying Futures Contract with a contract price equal to the Strike Price. Options which are "out of the money" expire automatically. - REFERENCE PRICE A
- ELECTRICITY-PALO VERDE-DAY AHEAD-PEAK MONTHLY-ICE
- a) Ref Price A - Description
- "ELECTRICITY-PALO VERDE-DAY AHEAD-PEAK MONTHLY-ICE" means that the price for a Pricing Date will be that day's Specified Price per MWh of electricity on ICE of the CAISO PALO VERDE Day-Ahead Peak Fixed Price Futures Contract for the Delivery Date, stated in U.S. Dollars, as made public by ICE on that Pricing Date.
- b) Ref Price A - Pricing Date
- Five Business Days prior to the first calendar day of the Contract Period
- c) Ref Price A - Specified Price
- Settlement Price
- d) Ref Price A - Pricing calendar
- ICE
- e) Ref Price A - Delivery Date
- Contract Period
- Strike Price Listing
- A minimum of ten Strike Prices in increments of $1.00 per MWh above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. User-defined Strike Prices are allowed in $0.05 increments.
- MIC Code
- IFED
- Clearing Venues
- ICEU
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 8:50 AM - 7:00 AM* 08:50 - 07:00 | 8:40 AM 08:40 |
*Next Day
Sunday Pre-Open 5:40 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- O-Pwr West Term
- Physical
- PVM
- Logical
- PVM
- GMI (FC)
- PV
- ION A.C.N.
- O940
- Symbol Code
- PVM