NYSE Amex Options - The Nasdaq-100 Index Option Specifications Symbol: NDX

Description of Index The Nasdaq-100 Index is a capitalization weighted index composed of 100 of the largest non-financial securities listed on the Nasdaq Stock Market. The Index was created in 1985 with a base value set to 250 on February 1 of that year. After reaching a level of nearly 800 on December 31, 1993, the Index level was halved on January 3, 1994. The Nasdaq Stock Market calculates and disseminates the Nasdaq-100 Index every 15 seconds during the trading day.

Components The Nasdaq-100 Index.

Trading Unit The minimum trade size is one option contract. The notional value underlying each contract equals 100 multiplied by the Index value.

Expiration Cycle Three consecutive near-term expiration months plus three successive months from the March cycle.

Expiration The Saturday following the third Friday of the expiration month.

Last Trading Day Two business days prior to expiration (normally a Thursday).
Exercising Options European style. Options may be exercised only on the last business day prior to expiration (normally a Friday). Writers are subject to assignment only at expiration. Check with your broker to ascertain cut-off times for exercise and provisions for automatic exercise.

Delivery Method if Exercised Cash settlement based on the dollar difference between the final settlement value of the Index and the strike price of the contract multiplied by $100.

Exercise Price Intervals Exercise (strike) prices are set at $5.00 intervals, bracketing the current value of the Index, when the Index is above 200. If the Index is below 200, the interval will be $2.50.

Option Premium Quotations Stated in dollars and cents. Minimum price variant $0.05 (nickel) for series trading under $3.00 and $0.10 (dime) for series trading $3.00 and above.

Index Settlement Value Determined based on a volume-weighted average of prices reported in the first five minutes of trading for each of the component securities on the last business day (usually a Friday) before the expiration date. If a stock in the Index does not open on the day on which the exercise settlement value is calculated, the last sales price reported to The Nasdaq Stock Market will be used in calculating the exercise settlement value.

Settlement of Exercise Next business day following expiration.

Position Limits 75,000 contracts, must be aggregrated with the Mini NDX 100 Stock Index Option (MNX). 10 MNX options equal 1 NDX option.

Minimum Customer Margin For Uncovered Writers 100% of the market value of the option plus 15% of the aggregate Index value less any out-of-the-money amount, subject to a minimum of 100% of the market value of the option plus 10% of the aggregate Index value.

Trading Hours 9:30 a.m. to 4:15 p.m., New York time.

Trading System Specialist/Registered Options Trader.

Trading Symbol NDX


Description of Index	The Nasdaq-100 Index is a capitalization weighted index composed of 100 of the largest non-financial securities listed on the Nasdaq Stock Market. The Index was created in 1985 with a base value set to 250 on February 1 of that year. After reaching a level of nearly 800 on December 31, 1993, the Index level was halved on January 3, 1994. The Nasdaq Stock Market calculates and disseminates the Nasdaq-100 Index every 15 seconds during the trading day.
Components	The Nasdaq-100 Index.
Trading Unit	The minimum trade size is one option contract. The notional value underlying each contract equals 100 multiplied by the Index value.
Expiration Cycle	Three consecutive near-term expiration months plus three successive months from the March cycle.
Expiration	The Saturday following the third Friday of the expiration month.
Last Trading Day	Two business days prior to expiration (normally a Thursday).
Exercising Options	European style. Options may be exercised only on the last business day prior to expiration (normally a Friday). Writers are subject to assignment only at expiration. Check with your broker to ascertain cut-off times for exercise and provisions for automatic exercise.
Delivery Method if Exercised	Cash settlement based on the dollar difference between the final settlement value of the Index and the strike price of the contract multiplied by $100.
Exercise Price Intervals	Exercise (strike) prices are set at $5.00 intervals, bracketing the current value of the Index, when the Index is above 200. If the Index is below 200, the interval will be $2.50.
Option Premium Quotations	Stated in dollars and cents. Minimum price variant $0.05 (nickel) for series trading under $3.00 and $0.10 (dime) for series trading $3.00 and above.
Index Settlement Value	Determined based on a volume-weighted average of prices reported in the first five minutes of trading for each of the component securities on the last business day (usually a Friday) before the expiration date. If a stock in the Index does not open on the day on which the exercise settlement value is calculated, the last sales price reported to The Nasdaq Stock Market will be used in calculating the exercise settlement value.
Settlement of Exercise	Next business day following expiration.
Position Limits	75,000 contracts, must be aggregrated with the Mini NDX 100 Stock Index Option (MNX). 10 MNX options equal 1 NDX option.
Minimum Customer Margin For Uncovered Writers	100% of the market value of the option plus 15% of the aggregate Index value less any out-of-the-money amount, subject to a minimum of 100% of the market value of the option plus 10% of the aggregate Index value.
Trading Hours	9:30 a.m. to 4:15 p.m., New York time.
Trading System	Specialist/Registered Options Trader.
Trading Symbol	NDX