Quarterly Options Series Contract Specifications >	PHLX Quarterly Options Series Contract Specifications* Description: Quarterly Options are series of options that expire on the last business day of each calendar quarter. Underlying: The PHLX may list Quarterly Options Series for up to five (5) options classes that are either currently listed Index Options or options on Exchange Traded Funds. In addition, the PHLX may list Quarterly Options Series on any options classes that are selected by other securities exchanges that employ a similar pilot program under their respective rules. Currently the PHLX lists Quarterly Options on the following classes:     Quarterly Options Symbol iShares Russell 2000® Index Fund (IWM) IQQ PowerShares QQQ™ Trust, Series 1 (QQQQ) UQQ DIAMONDS® Trust, Series 1 (DIA) BQQ Standard & Poor’s Depository Receipts® - SPDRs (SPY) RQQ Energy Select Sector SPDR (XLE) GQQ   Contracts Listed: Up to four (4) consecutive calendar quarters. Multiplier: $100 Exercise Style: Same as the standard options on the same underlying. Strike Price Intervals: Strike price intervals will be the same as the standard options on the same underlying. Strike Prices: At least two in-the-money, one at-the-money and two out-of-the-money strike prices will be listed at the time Quarterly Option Series are opened for trading. Additionally, the PHLX will list Quarterly Option Series that are within $5 of the closing value of the underlying on the preceding day. Premium Quotation: 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). Expiration Date: The last business day of each calendar quarter. Last Trading Day: Quarterly Options are p.m.-settled contracts; therefore, the last trading day is the last business day of each calendar quarter. Settlement of Options Exercise: Same as the normal options on the same underlying. Position Limit: Quarterly Options positions will be aggregated with the normal options on the same underlying. Margin: Same as the normal options on the same underlying. Trading Hours: Same as the normal options on the same underlying. *Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (“ODD”). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, IL 60606. The information on this Website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the Website information. The Philadelphia Stock Exchange assumes no responsibility for any errors or omissions in the Website. No statement within the Website should be construed as a recommendation to buy or sell a security or to provide investment advice. Back to Products
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