Product Specifications

CBOE Asia 25 Index

Symbol:
EYR

Underlying:
The CBOE Asia 25 Index is a market-capitalization weighted index composed of twenty-five American Depository Receipts (ADRs), New York Registered Shares (NYSs) or NYSE Global Shares^® (NGSs), which are traded on the New York Stock Exchange (NYSE), NASDAQ or the American Stock Exchange (AMEX). The index will be re-balanced quarterly following the expiration of the index option contract. The universe for the CBOE Asia 25 index consists of 107 ADRs, NYSs, and common shares, which are traded on the NYSE, NASDAQ or AMEX, that are issued on behalf of companies domiciled in one of eight Asian-Pacific countries. The CBOE Asia 25 Index base date is January 2, 2002 when the index level was set equal to 100.

Index Components

Multiplier:
$100.

Strike Price Intervals:
Strike prices are listed with minimum intervals of 2 1/2 points.

Strike (Exercise) Prices:
In-, at- and out-of-the-money strike prices are initially listed. New strikes can be added as the index moves up or down.

Premium Quotation:
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).

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

Exercise Style:
European - CBOE Asia 25 Index options generally may be exercised only on the last business day before expiration.

Exercise Months:
Up to three near-term months plus up to 3 months on the March quarterly cycle.

Settlement of Option Exercise:
Exercise will result in delivery of cash on the business day following expiration. The exercise settlement value (EKR) is calculated using the first (opening) reported sales price in the primary market of each component security on the last business day (usually a Friday) before the expiration date. If a security in the index does not open on the day on which the exercise-settlement value is determined, the last reported sales price in the primary market will be used in calculating the exercise-settlement value. The exercise-settlement amount is equal to the difference between the exercise-settlement value and the exercise price of the option, multiplied by $100.

Position Limit:
50,000 contracts on either side of the market, and no more than 30,000 of such contracts may be in the series in the nearest expiration month.

Margin:
For purchases of puts or calls with more than 9 months until expiration, deposit / maintain 75% of the total cost / option current market value. When time to expiration reaches 9 months, the option no longer has value for margin purposes. 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 15% 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 current market value instead of option proceeds.)
Additional margin may be required pursuant to Exchange Rule 12.10.

Last Trading Day:
Trading in CBOE Asia 25 Index options will ordinarily cease on the business day (usually a Thursday) preceding the day on which the exercise-settlement value is calculated.

Trading Hours:
8:30 a.m. - 3:02 p.m. Central Time (Chicago time).