Dow Jones Transportation Average (DTX)

Product Specifications

Symbol:
DTX

Index Description:
The Dow Jones Transportation Average is a price-weighted index of 20 of the largest, most liquid NYSE and Nasdaq-listed transportation stocks. Options are based on 1/10th of the DJTASM level.

Index Components

Multiplier:
$100.

Premium Quote:
Stated in decimals. One point equals $100. Minimum tick for options trading below 3.00 is 0.05 ($5.00) and for all other series, 0.10 ($10.00).

Strike Prices:
Strike prices for standard options as well as LEAPS are set to bracket the index level in increments of 5 points.

Expiration Cycle:
Generally, up to three near-term months plus up to 3 months on a quarterly cycle. Reduced (1/10th) value LEAPS with expirations up to three years in the future will also be listed.

Expiration Date:
Saturday following the third Friday of the expiration month.

Exercise Style:
European.

Settlement Value:
Exercise will result in delivery of cash on the business day following expiration. The exercise-settlement value, 1/10th of DNS, is calculated using the opening sales price in the primary market of each component security on the last business day (usually a Friday) before the expiration date. The exercise-settlement amount is equal to the difference between the exercise-settlement value and the exercise price of the option, multiplied by $100.

Settlement Value Symbol:
DNS

Settlement Type:
Cash-settled.

Last Trading Day:
Trading in DTX will ordinarily cease on the business day (usually a Thursday) preceding the day on which the exercise-settlement value is calculated.

Position and Exercise Limits:
The aggregate position and exercise limits for options based on the Dow Jones Transportation Average (DTX and DTX LEAPS) are 31,500 contracts on the same side of the market (10 DTX LEAPS are equivalent to 1 full-value DTX option contract). *

Margin:
Purchases of puts or calls with 9 months or less until expiration must be paid for in full. Writers of uncovered puts or calls must deposit / maintain 100% of the option proceeds* plus 20% of the aggregate contract value (current index level x $100) minus the amount by which the option is out-of-the-money, if any, subject to a minimum for calls of option proceeds* plus 10% of the aggregate contract value and a minimum for puts of option proceeds* plus 10% of the aggregate exercise price amount. (*For calculating maintenance margin, use option current market value instead of option proceeds.) Additional margin may be required pursuant to Exchange Rule 12.10.

Cusip Number:
12486F

Trading Hours:
8:30 a.m. - 3:00 p.m. Central Time (Chicago time).

Position and Exercise limits are subject to change.