Options on DIAMONDS® (DIA)
Click here to visit the DIA Microsite.
Generally, 100 shares of DIAMONDS®, an exchange-traded fund designed to track the performance of the Dow Jones Industrial Average.
Strike Price Intervals:
Strike prices are set at a minimum of 1-point increments.
Strike (Exercise) Prices:
In-, at- and out-of-the-money strike prices are initially listed. New series generally will be added when DIA 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.
Three near-term months and three months from the March quarterly cycle (March, June, September and December). LEAPS may also be available.
Last Trading Day:
Trading in DIA options will ordinarily cease at the close on the business day (usually a Friday) preceding the expiration date.
American - DIA options generally may be exercised on any business day before the expiration date.
Settlement of Option Exercise:
Physical Delivery. Exercise notices properly tendered on any business day will result in delivery of DIA shares on the third business day following exercise.
Position and Exercise Limits:
75,000 contracts on the same side of the market.
Uncovered writers must deposit 100% of the options proceeds plus 15% of the aggregate contract value (current DIA 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).