• Amendments to the Listing Schedule and Increase in the Minimum Number of Out-of-the-Money Strike Prices for Weekly Options on NASDAQ 100 Index and Weekly Options on E-mini NASDAQ 100 Index Futures Contracts

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7032
      • Notice Date
      • 28 February 2014
      • Effective Date
      • 28 February 2014
    • Effective on Sunday, March 23, 2014 for trade date Monday, March 24, 2014, and pending all CFTC regulatory review periods, the Chicago Mercantile Exchange Inc. (CME or Exchange) will amend the listing schedule and increase the minimum number of out-of-the-money strike prices for the weekly options on the following two (2) contracts:

      1. Options on E-mini NASDAQ 100 Index Futures
      2. Options on NASDAQ 100 Index Futures

       

      Product Title

      CME Rulebook Chapter

      Ticker Symbol

      Options on E-mini NASDAQ 100 Index Futures (Weekly)

      359A

      Week 1: QN1

      Week 2: QN2

      Week 4: QN4

       

      Options on NASDAQ 100 Index Futures (Weekly)

      357A

      Week 1: DN1

      Week 2: DN2

      Week 4: DN4

       

       

      Options on E-mini NASDAQ 100 Index Futures are listed for trading on CME Globex and Options on NASDAQ 100 Index Futures are listed for trading on CME Globex and the CME trading floor.

      The amendments to the listing schedule of two (2) additional weekly options will allow four (4) concurrent weekly Options on NASDAQ 100 Index and E-mini NASDAQ 100 Index Futures to be available for trading.

      The minimum number of out-of-the-money strike prices available for trading for Weekly Options on E-mini NASDAQ 100 Index and NASDAQ 100 Index Futures will be increased from 25 to 50.

       

       

      Additions are underlined, Deletions are bracketed and struck-through

       

      Chapter 357A

      Options on NASDAQ 100 Index Futures

       

      357A01.E. Exercise Prices

      4. Options in the European Style Weekly Options Series

      At the commencement of trading, the Exchange shall list all exercise prices within 50 [25]  strikes above and below the previous day’s settlement price of the March quarterly options on the same underlying futures contract that are integers divisible by 10 without remainder, e.g. 1210, 1220, 1230, etc.

       

      Chapter 359A

      Options on E-mini NASDAQ 100 Index Futures

      359A01.E. Exercise Prices

      3. Options in the European Style Weekly Options Series

      At the commencement of trading, the Exchange shall list all exercise prices within 50 [25] strikes above and below the previous day’s settlement price of the March quarterly options on the same underlying futures contract that are integers divisible by 10 without remainder, e.g. 1200, 1210, 1220, etc.

       

       

       

      Please contact Mr. John Nyhoff, R&PD at 312-930-2310; Ms. Lucy Wang, R&PD at (312)648-5478 if you have any inquiries regarding this matter.