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Options on the FTSE/ASE Mid 40 index
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| | First trading day : June 5, 2001.
Trading hours: 11:00am to 17:00pm | |
Introduction
In addition to the Futures, an Option is a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset on a certain date at a specific price. The underlying asset for Options on the FTSE/ASE Mid 40 index traded in Derivatives Market of the Athens Exchange S.A. is the FTSE/ASE Mid 40 index.
Brief description
Like for the index futures, the index options will be cash settled and they will be traded in index points. For the calculation of the monetary size of the contract, the traded price of the option gets multiplied by the multiplier. The multiplier is 10 Euro for all series expiring prior to April 2003 and 25 Euro for all other series.
The expiration months, the expiration day and last trading day of the index options will follow those of the index futures.
Eleven exercise prices (strikes) are quoted for for each expiration date. Initially, for each expiration date the following exercise prices should be listed:
an at-the-money (ATM) strike
5 strikes above the ATM, and
5 strikes below the ATM.
Premium: When you buy a Call Option, the price you pay for it, called the option premium, secures your right to buy the underlying asset, and you are not obligated to, your only cost is the option premium.
Options on the FTSE/ASE Mid 40 index are European style.
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