Quarterly Options

Quarterly options are listed with expiration dates that coincide with the end of the financial quarter. They will generally have the same product specifications of the monthly contracts listed on that product and will list an expiration date of the last business day of the financial quarter.

Unit of Trade:  ETF: 100 shares of the underlying; Index: One contract equals $100 (the index multiplier) times the index level.

Premium Quotations:  Stated in points. One point equals $100.

Strike Price Intervals:  Quarterly option strike listings will generally mimic that of the standard product.

Exercise Style:  The exercise style for quarterly options will be the same as for standard options on that product.

Expiration Months:  March, June, September, December.

Expiration Dates:  Quarterly options will list the last business day of the financial quarter as the expiration date. This means that quarterly options will be available with expirations in March, June, September and December.

Exercise Settlement Price:  ETFs will settle the same as the standard options on the same underlying. Cash-settled quarterly options on index products are PM settled and will derive their settlement value based on a calculation of the closing values of the component securities of that index.

Position Limits:  Quarterly option positions will be aggregated with standard open positions for ETFs. Customer hedge exemptions are available. Index option limits area also aggregated but may vary. Investors should check the position limit reports and exchange rules.

Minimum Customer Margin:  Same as standard options on the same underlying or index.

Trading Hours:  Quarterly options will have the same trading hours as standard options for that product.

Your acceptance of all cookies will permit robust site functionality. If you don't allow cookies, some features and functionality of OCC's site may not operate as expected. If you do not choose either cookie setting for our site, or if you close this window, this message will continue to display on each page you visit. Cookie settings can be controlled in your Internet browser to automatically reject some forms of cookies. For more details on cookies this site uses, see our OCC Site Cookies page. In addition to using cookies, we retain other information, including your Internet Protocol (IP) address, for the purposes listed in the Privacy Policy. Do not accept analytic cookies Accept analytic cookies