| Description of Index |
The Amex Computer Technology Index (XCI) is a market capitalization weighted index designed to represent a cross section of widely-held U.S. corporations involved in various phases of the computer industry. |
| Component |
For Index components click here. |
| 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 two
successive months from the January cycle. |
| Expiration |
The Saturday following the third Friday of the expiration
month. |
| Last Trading Day |
One business day prior to expiration (normally a Friday). |
| Exercising Options |
American style. Options may be exercised on any business day prior to expiration. |
| Delivery Method if Exercised |
Cash settlement based on the dollar difference between
the final settlement value of the Index and 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 following the close of trading on the day the exercise notice is submitted. |
| Settlement of Exercise |
Next business day following exercise. |
| Position Limits |
24,000 contracts on the same side of the market. |
Minimum Customer Margin
for Uncovered Writers |
100% of the market value of the option plus 20% 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 4:00 p.m., New York time. |
| Trading System |
Specialist/Registered Options Trader. |
| Trading Symbol |
XCI |
