CBOE Technology Index

Symbol:
TXX

Underlying:
TThe CBOE Technology Index is a price-weighted index of 30 high technology stocks trading on the New York Stock Exchange and NASDAQ.

Index Components

Multiplier:
$100.

Strike Price Intervals:
5 points.

Strike Prices:
In-, at- and out-of-the-money strike prices are initially listed. New series are generally added when the underlying trades through the highest or lowest strike price available.

Premium Quote:
Stated in decimals. One point equals $100. The 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 following the third Friday of the expiration month.

Expiration Months:
Generally, up to three near-term months plus up to three additional months from the March quarterly cycle (March, June, September and December).

Exercise Style:
European - TXX options may only be exercised on the last business day before expiration.

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

Settlement of Option Exercise:
The CBOE Technology Index exercise-settlement value, (symbol TTS) is calculated using the first (opening) reported sales price in the primary market of each component stock on the last business day (usually a Friday) before the expiration date. If a stock 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. Exercise will result in delivery of cash on the business day following expiration.

Position and Exercise Limits:
The aggregate (TXX and TXX LEAPS) position and exercise limits are 31,500 contracts on the same side of the market. 10 TXX LEAPS are equivalent to 1 full-value TXX 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:
1248H0

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

Position and Exercise limits are subject to change.