Options on iSharesSM S&P 100® Index Fund (OEF) Product Specifications
Generally, 100 shares of the iSharesSM S&P 100 Index Fund, an exchange-traded fund managed by Barclays Global Fund Advisors (BGFA).
Strike Price Intervals:
Minimum of 0.50 points.
Strike (Exercise) Prices:
In-, at- and out-of-the-money strike prices are initially listed. New series generally will be added when OEF shares trade through the highest or lowest strike price available.
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).
Saturday immediately following the third Friday of the expiration month until February 15, 2015. On and after February 15, 2015, the expiration date will be the third Friday of the expiration month.
Four near-term months and one month from the March quarterly cycle (March, June, September and December). LEAPS may also be available.
Last Trading Day:
Trading in OEF options will ordinarily cease on the business day (usually a Friday) preceding the expiration date.
American - OEF options generally may be exercised on any business day before the expiration date.
Settlement of Option Exercise:
Exercise notices properly tendered on any business day will result in delivery of OEF shares on the third business day following exercise.
Position and Exercise Limits:
* 75,000 contracts on the same side of the market.
Please contact the Department of Market Regulation at 312-786-7706 or 312-786-7059 for details regarding applicable hedge and position limit exemptions.
Uncovered writers must deposit 100% of the options proceeds plus 15% of the aggregate contract value (current OEF price multiplied by $100) minus the amount by which the option is out-of-the-money, if any. Minimum margin is 100% of the option proceeds plus 10% of the aggregate contract value. Long puts or calls must be paid in full.
8:30 a.m. - 3:15 p.m. Central Time (Chicago time).
* Position Limits subject to change.