CBOE Equity FLEX® Options

Equity FLEX Options Product Specifications

Minimum Size:

One contract.

Strike Price:

Any strike price in penny increments. Strike prices may also be expressed as a percentage of the level of the underlying stock.

Premium Price:

Premiums may be expressed as a specific dollar amount per contract in increments that are established on a class basis and which have generally been set in penny increments. Premiums may also be expressed as a percentage of the level of the underlying stock. For strike prices specified in other than underlying values, premium prices specified in other than a dollar amount per contract, and size specified in other than a number of contracts, CBOE calculates actual strike prices, premium prices and number of contracts for submission to The Options Clearing Corporation for clearing and settlement.

Expiration Date:

Any business day up to 15 years from trade date.

Exercise Style:

American or European.

Trade Dissemination:

A text message describing the volume and price of any trade can be received via the terminals of vendors who offer the FLEX retrieval service.

Settlement of Option Exercise:

All Equity FLEX Option exercises will result in physical delivery of the underlying security. Settlement price will be the closing stock price on exercise or expiration day.

Trading Hours:

8:45 a.m. - 3:00 p.m. Central Time (Chicago time).

For additional information on Equity FLEX, visit the Equity FLEX Options page under the Institutional tab.