Option on CAISO SP-15 Day-Ahead Peak Daily Fixed Price Future6590537
ICE Futures U.S.
Option on CAISO SP-15 Day-Ahead Peak Daily Fixed Price Future
Description
A daily Option on the corresponding Contract Period of the CAISO SP-15 Day-Ahead Peak Daily Fixed Price Future.
Market Specifications
- Trading Screen Product Name
- Peak Futures
- Trading Screen Hub Name
- SP15 DA (Daily)
- Contract Symbol
- SDP
- Settlement Method
- Exercise into Underlying Futures Contract
- Contract Size
- 400 MWh
- 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 365 consecutive daily Contract Periods, excluding Sundays and NERC Holidays
- Last Trading Day
- At the end of the Trading Session on the last Business Day prior to the Contract Period
- Option Style
- European
- Exercise Procedure
- Automatic Only
Manual exercise or abandon is not permitted
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.
Exercise Day For Contract Periods that fall on a Business Day, five Business Days following the Last Trading Day; for all other Contract Periods, four Business Days following the Last Trading Day. - REFERENCE PRICE A
- ELECTRICITY-CAISO-SP15-DAY AHEAD
- a) Ref Price A - Description
- "ELECTRICITY-CAISO-SP15-DAY AHEAD" means that the price for a Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the Delivery Date, stated in U.S. Dollars, published by the California ISO at http://oasis.caiso.com/mrtuoasis/?doframe=true&serverurl=http%3a%2f%2ffrptp09%2eoa%2ecaiso%2ecom%3a8000&volume=OASIS, under the headings "Prices: Report: Reference Prices: P/APNode ID: TH_SP15_GEN-APND" that reports prices effective on that Pricing Date.
- b) Ref Price A - Pricing Date
- Each day that prices are reported for the Delivery Date
- c) Ref Price A - Specified Price
- Average of LMPs for all hours ending 0700-2200 PPT
- d) Ref Price A - Pricing calendar
- CAISO
- 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 5:10 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- O-Pwr West Daily
- Physical
- SDP
- Logical
- SDP
- GMI (FC)
- SD
- ION A.C.N.
- OU47
- Symbol Code
- SDP