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NASDAQ-100 Options
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Type
 
NASDAQ 100 Options
Opening Date 4/10/1996
Ticker Symbol ND (Calls and Puts)
ND= Clearing
View product and vendor codes
Contract Size One quarterly NASDAQ-100 futures contract ($100 multiplier)
Strike Price Intervals 10-point strike price intervals within ± 30% previous day’s settlement price of the underlying futures
Tick Size (minimum fluctuation) 0.25=$25.00 for premium >3.00
Reduced Tick: 0.05=$5.00 for premium < or =3.00
Cab: 0.05=$5.00
Trading Hours
All time listed are Central Time		 Open Outcry MON-FRI: 8:30 a.m. -3:15 p.m.
CME Globex  (Electronic Platform) MON-FRI: 5:00 p.m. previous day – 4:15 p.m. CT, trading halt from 8:15 a.m. – 3:30 p.m.
Contract Months Open Outcry Four months in the March Quarterly Cycle (Mar, Jun, Sep, Dec) Plus Two Serial Months (i.e., Jan, Feb)
CME Globex One month in the March Quarterly Cycle (Mar, Jun, Sep, Dec) Plus Two Serial Months (i.e., Jan, Feb)
Last Trade Date/Time
View Calendar		 Open Outcry QUARTERLY:  3:15 p.m. / Thursday prior to 3rd Friday of the contract month
SERIAL: 3:15 p.m. / 3rd Friday of the contract month
CME Globex (Electronic Platform) QUARTERLY: 8:15 a.m. / Thursday prior to 3rd Friday of the contract month
Serial: 4:15 p.m. / 3rd Friday of the contract month
Strike Listing Open Outcry All strikes interval
CME Globex 3 strikes up & down, and including the strike nearest the money
Exercise Procedure American Style.
FLEX Options also available.
Expiration Date Procedure An option can be exercised until 7:00 p.m. on any business day the option is traded.
QUARTERLY OPTIONS - Unexercised in-the-money options will be automatically exercised at 7:00 p.m. on the day of determination of the Final Settlement Price.
SERIAL OPTIONS - Unexercised in-the-money options will be automatically exercised at 7:00 p.m. on Serial Option expiration day..
Settlement at Expiration Option exercise results in a position in the underlying cash-settled Futures contract. Options which are in-the-money on the last day of trading are automatically exercised.
In-the-money QUARTERLY OPTIONS, in the absence of contrary instructions delivered to the Clearing House by 7:00 p.m. on the day of the expiration, are exercised automatically into expiring cash-settled futures, which settle to the SOQ calculated the morning of the 3rd Friday of the contract month.
In-the-money SERIAL OPTIONS, in the absence of contrary instructions delivered to the Clearing House by 7:00 p.m. on the day of the expiration, shall be exercised automatically on serial option expiration day.
Daily Price Limits Option trading is not permitted during trading halts due to price limit events.
View price limits details.
Position Limits See: CME Rulebook Chapter 5 - POSITION LIMIT, POSITION ACCOUNTABILITY AND REPORTABLE LEVEL TABLE
Block Trade Eligibility Yes. View more on block-trade eligible contracts.
Block Minimum 100 contracts
Rulebook Chapter 357A
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.
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