- Trading Screen Product Name
- Peak Futures
- Trading Screen Hub Name
- SP15 DA (Daily)
- Commodity Code
- Settlement Method
Exercise into Underlying Futures Contract
- Contract Size
- 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
- Last Trading Day
At the end of the Trading Session on the last Business Day prior to the Contract Period
- Option Style
- Exercise Method
- Exercise Procedure
Manual exercise or abandon is not permitted
- 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.
- Automatic Exercise Provisions
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
- 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
under the headings "Prices: Report: Reference Prices: P/APNode ID:
TH_SP15_GEN-APND" that reports prices effective on that Pricing
- 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
- e) Ref Price A - Delivery Date
- Strike Price Listing Provisions
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
- Clearing Venues