Dow Jones Utility Average (DUX)

Product Specifications

Symbol:
DUX

Index Description:
The Dow Jones Utility Average is a price-weighted index of 15 of the largest, most liquid NYSE-listed utility stocks. Options are based on the full-value of the DJUAsm 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 minimum increments of 5 points.

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

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

Exercise Style:
European.

Settlement Value Symbol:
DUS

Settlement Type:
Cash-settled.

Last Trading Day:
Trading in DUX 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 Utility Average (DUX and DUX LEAPS) are 24,000 contracts on the same side of the market (10 DUX LEAPS are equivalent to 1 full-value DUX 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:
12486L

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

Position and Exercise limits are subject to change.