Exchange-traded fund designed to
track the performance of the Dow
Jones Industrial Average.
Strike prices are set at a minimum
of 1-point increments.
In-, at- and out-of-the-money strike
prices are initially listed. New
series generally will be added when
DIA shares trade through the highest
or lowest strike price available.
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
Saturday immediately following the
third Friday of the expiration
Three near-term months and three
months from the March quarterly
cycle (March, June, September and
December). LEAPS may also be
Trading in DIA options will
ordinarily cease at the close on the
business day (usually a Friday)
preceding the expiration date.
American - DIA options generally may
be exercised on any business day
before the expiration date.
Physical Delivery. Exercise notices
properly tendered on any business
day will result in delivery of DIA
shares on the third business day
75,000 contracts on the same side of
Uncovered writers must deposit 100%
of the options proceeds plus 15% of
the aggregate contract value
(current DIA price multiplied by
$100) minus the amount by which the
option is out-of-the-money, if any.
Minimum margin is 100% of the option
proceeds plus 10% of the aggregate
contract value. Long puts or calls
must be paid in full.
8:30 a.m. - 3:15 p.m. Central Time