Product Specifications

Options on DIAMONDS® (DIA)

Click here to visit the DIA Microsite.

Underlying:
Generally, 100 shares of DIAMONDS®, an exchange-traded fund designed to track the performance of the Dow Jones Industrial Average.

Underlying Symbol:
DIA

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.

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.

Expiration Months:
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.

Exercise Style:
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.

Margin:
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.

Trading Hours:
8:30 a.m. - 3:15 p.m. Central Time (Chicago time).

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. No statement within the website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the website should not be construed as an endorsement or an indication of the value of any product, service, or website. The Terms and Conditions govern use of this website and use of this website will be deemed acceptance of those Terms and Conditions.