Prior to buying or selling an option, investors must read a copy of the Characteristics and Risks of Standardized Options, also known as the options disclosure document (ODD). It explains the characteristics and risks of exchange traded options.
Download the Characteristics and Risks of Standardized Options (PDF)
188 pages, February 1994 (1997 through 2012 supplements)
October 2018 Supplement (PDF)
November 2012 Supplement (PDF)
Copies of this document may also be obtained from your broker, from any exchange on which options are traded, or by placing an order online. If you have questions, please contact the Options Clearing Corporation at accountsreceivable@theocc.com.
Having Trouble Viewing the ODD?
We recommend downloading and installing the latest version of Adobe Acrobat Reader, which is available as a free download. If your problems persist you may want to order a printed version or contact your broker.
Click here to place an order for the printed version of the Options Disclosure Document. The ODD is only $0.45 plus shipping and handling. Please allow 8-10 days for delivery. Orders of less than 5 documents must be placed with InvestorServices@theocc.com.