Default Option Terms and Strike Prices

The default values that appear in the Term and Strike Price fields for Options Spreads will vary, depending on the product groups involved in the trades.

Method A

• The Term drop-down is populated with available terms.
• Available strike prices appear in the drop-down.

Method B

• The Term drop-down is populated with the term of the underlying instrument.
• The Strike Price field is blank and the drop-down is populated with any previously listed strike prices. Strike prices can also be manually entered in the Strike Price field.

Method C

• The Term drop-down is populated with available terms.
• The Strike Price field is blank and the drop-down is populated with any previously listed strike prices. Strike prices can also be manually entered in the Strike Price field.

Note: The default underlying term that is selected by default might not be valid.

Note: The default strike prices that are listed might not use valid price increments.

Note: All manually entered strike prices (typed in the blank) must be valid to be accepted when submitted for clearing.