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IT40O Product Specification
Cboe Italy 40 Index Options
- Contract Name
- Cboe Italy 40 Index Options (IT40O)
- Underlying
- The Cboe Italy 40 index (Symbol: BIT40P) aims to be comprised of the largest 40 Italian issuers. This is a price return index.
- Contract Multiplier
- €25 (e.g. value €63,750 for an index level of 2,550.00)
- Symbol(S)
- IT40O
- Contract Expirations
-
The Exchange will list for trading the following expiration months:
1, 2, 3 of the Monthly Cycle;
6, 9, 12 Months of the Quarterly Cycle; and
18, 24 Months of the Yearly Cycle
- Trading Hours
-
Monday – Friday
08:01 – 16:30
All times referenced are London time.
- Minimum Price Intervals
- Premium based tick sizes €0.1 / €0.2 / €0.5
- Block Trades
-
The minimum Block Trade quantity for Cboe Italy 40 Index Options is 150 contracts. For options strategies each leg is required to have a minimum quantity of 150 contracts.
The minimum price increment for a Block Trade in Cboe Italy 40 Index Options is 0.1 index points (€2.5).
- Deferred Publication
- Block trades at or above 1,500 contracts are eligible for intraday deferred publication.
- Daily Settlement Price
- Index Options Daily Settlement Prices will be calculated by Cboe using the Black 76 options pricing model.
- Termination Of Trading
- Trading hours for Cboe Italy 40 Index Options end at 08:10 London time on the final settlement date.
- Option Exercise Style
- European Style - Cboe Italy 40 Index Options may be exercised only on the final settlement date.
- Final Settlement Date
-
The final settlement date for a Cboe Italy 40 Index Option contract is the third Friday of the calendar month in which the contract expires.
If that Friday that is a Cboe trading holiday, the final settlement date for the contract shall be on the business day immediately preceding that Friday.
- Final Settlement Value
-
The final settlement value calculation for Cboe Italy 40 Index Options uses a 10 minute average of the index levels (only every 30th print is considered) during the timing window below on the settlement date:
Start: 08:00 London time
End: 08:10 London time
- Delivery
- Settlement of Cboe Italy 40 Index Option contracts will result in the delivery of a cash settlement amount based on the final settlement value.