S&P 100 Index Options

CBOE Options on S&P 100 Index Overview

Multiplier: $100

Premium Quote: 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).

Strike Price Intervals: Five points. 10-point intervals in the far-term month.

Expiration Months: Four near-term months plus one additional month from the March quarterly cycle.

Expiration Date: Saturday following the third Friday of the expiration month.

Exercise Style: American. OEX options generally may be exercised on any business day before the expiration date.

Last Trading Day: Trading in OEX options will ordinarily cease on the business day (usually a Friday) preceding the expiration date.

Position and Exercise Limits: No position and exercise limits are in effect. Each member (other than a market maker) or member organization that maintains an end of day position in excess of 100,000 contracts in OEX and OEX LEAPS for its proprietary account or for the account of a customer, shall report certain information to the Department of Market Regulation. The member must report information as to whether such position is hedged and, if so, a description of the hedge employed. A report must be filed when an account initially meets the aforementioned applicable threshold. Thereafter, a report must be filed for each incremental increase of 25,000 contracts. Reductions in an options position do not need to be reported. However, any significant change to the hedge must be reported.

CBOE has a number of other contracts based on the S&P 100, including:

• OEX® - S&P 100 Index LEAPS -- European Exercise
• WEEKLYS - Short-Term S&P 100 Index Options
• XEO® - European-style S&P 100 Index Options
• XEO® - European-style S&P 100 LEAPS
• QUARTERLYS - European-style S&P 100 (XEO) Index Options

References