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October 12, 2015 admin

DIA Contract Specification

Product Specifications

Exchange-traded fund designed to track the performance of the Dow Jones Industrial Average.

Symbol:

DIA

Strike Price Intervals:
Strike prices are set at a minimum of 1-point increments.

Strike (Exercise) Prices:
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.

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:
Saturday immediately following the third Friday of the expiration month.

Expiration Months:
Three near-term months and three months from the March quarterly cycle (March, June, September and December). LEAPS may also be available.

Last Trading Day:
Trading in DIA options will ordinarily cease at the close on the business day (usually a Friday) preceding the expiration date.

Exercise Style:
American – DIA options generally may be exercised on any business day before the expiration date.

Settlement of Option Exercise:
Physical Delivery. Exercise notices properly tendered on any business day will result in delivery of DIA shares on the third business day following exercise.

Position and Exercise Limits:
75,000 contracts on the same side of the market.

Margin:
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.

Trading Hours:
8:30 a.m. – 3:15 p.m. Central Time (Chicago time).

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Disclaimer: Futures, option & stock trading is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. NonDirectionalTrading.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

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