World Currency Options Help - Euro Product Specifications
World Currency Options >> Euro Specifications
Euro Product Specifications
Description: PHLX U.S. dollar-settled Euro currency options are quoted in terms of U.S. dollars per unit of the underlying currency (Euro) and premium is paid and received in U.S. dollars.
Contract Size: 10,000 Euros
Trading Symbol: XDE
Alternate Symbol**: EAE
If you are unable to find a strike price under the trading symbol, try the alternate symbol.
Half Point Strike Symbols: EPA
Half Point Strike Alternate Symbol**: EAY
If you are unable to find a half point strike price under the half point strike symbol, try the alternate symbol.
Settlement Value Symbol: EDY
CUSIP® Number: 69336Y
Exercise Style: European
Expiration Date: Saturday following the third Friday of the expiration month.
Expiration Cycle: Quarterly on the March cycle plus two additional near-term months (six months at all times).
Settlement: U.S. dollars
Settlement Value for Expiring Contracts: Based on the 12:00 Noon (Eastern Time) Buying Rate, as determined by the Federal Reserve Bank of New York on the last trading day prior to expiration (usually a Friday). If the Noon Buying Rate is not announced by 5:00 p.m. (Eastern Time), the closing settlement value will be the most recently announced Noon Buying Rate, unless the Exchange determines to apply an alternative closing settlement value as a result of extraordinary circumstances. The settlement value is disseminated under the symbol EDY. Consult PHLX Rule 1057 for further information.
Last Trading Day for Expiring Contracts: The third Friday of the expiration month.
Contract Point Value: $100 (i.e., .01 x 10,000)
Exercise (Strike) Price Intervals: The Exchange shall determine fixed-point intervals of exercise prices. Generally, the exercise (strike) price interval shall be set at half-cent intervals. Consult PHLX Rule 1012 for further information.
Premium Quotation: One point = $100. Thus a premium quote of 2.13 is $213. The minimum change in a premium is .01= $1.00.
Position Limits: 200,000 contracts on the same side of the market. Hedge exemptions are available. For more information consult PHLX Rules 1001 and 1002.
Trading Hours: 9:30 a.m. to 4:00 p.m. (Eastern Time)
Issuer and Guarantor: The Options Clearing Corporation (OCC)
* Product specifications are subject to change.
** Fluctuations in the underlying may cause a "wrap around" situation whereby alternate symbols may be used.
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