Nikkei 225 Options
CONTRACT SPECIFICATIONS - Nikkei 225 Options -
| Contract | Put and call options based on Nikkei Stock Average (Nikkei 225) |
|---|---|
| Expiration months |
12 contract months in the March quarterly cycle plus 3 near-term months which do not overlap the March quarterly cycle. *Duration of contract months: Jun. and Dec. contracts can be traded for 5 years. Mar. and Sep. contracts can be traded for 1 year. Jan., Apr., Jul. and Oct. contracts can be traded for 5 months. Other contract months can be traded for 4 months. |
| Contract unit | Nikkei 225 x ¥1,000 |
| Strike prices |
¥500 intervals in integer multiples of ¥500 based on Nikkei 225 (For the nearest 3 months, ¥250 intervals in integer multiples of ¥250) |
| Minimum fluctuation |
¥50 or less: ¥1 Over ¥50 up to ¥1,000: ¥5 Over ¥1,000: ¥10 |
| Daily price limits | |
| Exercise type | European. The option may be exercised only at its expiration (the second Friday of each expiration month). |
| Last trading day |
The business day preceding the second Friday of each expiration month (When the second Friday is a non-business day, it shall be the preceding business day.). Trading in a new expiration month begins on the business day following the last trading day. |
| Settlement | Cash settlement of the difference between the strike price and the Special Quotation on the expiration date |
| Final settlement price |
Special Quotation (SQ calculation is based on the total opening prices of each component stock of Nikkei 225 on the business day following the last trading day.) |
| Trading hours |
9:00-15:15, 16:30-3:00 *An order acceptance period ("pre-closing") is established for 5 minutes before the Itayose on close. |
| Trading system |
|
|
Available for trade in the U.S. |
Yes |
| Margin | |
| Give-up | Available |
| Position-Transfer | Available |
