Contrary Options Exercise Instructions

 
 

These summary reports are produced after the various exercise submission deadlines and reflect submitted instructions from clearing firms. The actual exercise and assignment process is run later in the evening and specific results are made available to clearing firms.

Expiring Options Process:

All options that are "in-the-money" will be automatically exercised at expiration. "At-the-money" options are considered "out-of-the-money" for exercise and assignment purposes and can only be exercised via contrary instructions as described below

Contrary Instructions
A contrary instruction must be submitted by the clearing firm when a customer submits a request to exercise an "out-of-the-money" option or to abandon an "in-the-money" option. Contrary Instructions are not allowed in some products. Click here to see the products. Abandoned “in-the-money” options and unexercised out-of-the-money options will expire (i.e. do not result in a futures position).

The submission deadlines for the clearing firms for all exercise and abandonment instructions are:

Reports

 
 
Technical Standards
 

Futures & Options Trading

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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX, and COMEX.