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).
