Day ahead schedule a schedule prepared by a

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Day-Ahead Schedule a schedule prepared by a scheduling coordinator or the independent system operator (Iso) before the beginning of a trading day. this schedule indicates the levels of generation and demand scheduled for each settlement period that trading day. Day Traders a day trader establishes positions through buying and selling commodities or financial instruments several times during one trading day, without the intention of carrying these positions over to subsequent trading days. Most, if not all, of the positions established dur- ing the trading day are closed out before the end of the day’s trading. Degree Days Degree days are measured as the number of degrees above or below a standardized temperature on any given day. In winter, traders track heating degree days week by week, or month by month, normally against a standard temperature of 65F, on the basis of how many degrees of heat are required to bring the tem- perature up to 65F. In summer, the market tracks cool- ing degree days, which are computed in the opposite manner. (See HDD, CDD.) Delivered Cost the cost of fuel, including the invoice price of fuel, transportation charges, taxes, commissions, insurance, and expenses associated with leased or owned equip- ment used to transport the fuel. Delta the rate of change of the value of an option with respect to changes in the price of the underlying com- modity.
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- 4 - Delta Hedging Exchange Delta Hedging the process whereby the grantor of an option decides to buy or sell more/less of an underlying futures con- tract in order to protect against being declared upon by the options holder. If delta hedging, the grantor of a call option will buy more of the futures contract if it rises in value towards the strike price (as the probabil- ity of being declared upon rises towards 100%). the grantor of a put option will typically sell more of the underlying futures contract if it slides in value (as the probability of being declared upon rises towards 100%). Delta Neutral a state where the grantor of an option has balanced the probability of being declared upon through buy- ing/selling the underlying futures contract. Demand, Oil the rate of consumption of refined products, normally measured in millions of barrels per day. Demand, Power the rate at which power is delivered to or by a system at a given instant or averaged over a designated period, usually expressed in kilowatts or megawatts. Demand Response Programs Demand response programs are incentive-based pro- grams that encourage electric power customers to temporarily reduce their demand for power at certain times in exchange for a reduction in their electricity bills. some demand response programs allow electric power system operators to directly reduce load, while in others, customers retain control. Customer-con- trolled reductions in demand may involve actions such as curtailing load, operating onsite generation, or shift- ing electricity use to another time period.
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