How Gold Options Deliver Into Futures Contracts

The metals products offered on NYMEX and COMEX provide unique trading and hedging opportunities and include global benchmarks for price discovery and risk management opportunities. Options on metals futures products provide the liquidity, flexibility and market depth needed to achieve your trading objectives, from the simple to the most sophisticated of trading strategies.

One standard monthly option contract (OG) delivers into one futures contract. One Gold futures contract (GC) constitutes a contract for delivery of 100 troy oz. of Gold to an Exchange approved depository at a specific date in the future. One options contract would allow the buyer or assign the seller to take or give possession of one corresponding underlying futures contract the specific date of each contract.

Gold options expire four business days prior to the end of the month preceding the options contract month. If the expiration day falls on a Friday or immediately prior to an Exchange holiday, expiration will occur on the previous business day. Settlement is based on the COMEX close at 1:30 p.m. Eastern Time (ET). Abandonments and assignments must be submitted to the Exchange by 4:30 p.m. ET. Notice of exercise and abandonments are generally given by 8:00 p.m. ET. Gold options settle into underlying futures contracts on a cycle-month schedule.

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