Chapter 124
Micro Gold Option
124100.

SCOPE OF CHAPTER
This chapter is limited in application to put and call options on the Micro Gold Futures contract.
In addition to the rules of this chapter, transactions in options on Micro Gold Futures shall be
subject to the general rules of the Exchange insofar as applicable.

1248101.

OPTION CHARACTERISTICS
The number of months open for trading at a given time shall be determined by the Exchange.
For each Micro Gold Option month traded on the Exchange, the underlying Micro Gold Futurescontract month shall be the February, April, June, August, October, or December Micro Gold
Futures contract, determined as follows:
Option Contract Months Listed
January, February
March, AprilMay, JuneJuly, August
September, OctoberNovember, December

Exercise into Underlying Futures
February
April
June
AugustOctoberDecember

124101.A. Trading Schedule
The hours of trading for this contract shall be determined by the Exchange.
124101.B. Trading Unit
A Micro Gold put or call option contract traded on the Exchange represents an option toassume a short or long position in the underlying futures contract traded on the Exchange.
124101.C. Price Increments
Prices shall be quoted in dollars and cents per ounce and prices shall be in multiples of $0.10
per troy ounce.
124101.D. Position Limits, Exemptions, Position Accountability and Reportable Levels
The applicable position limits and/or accountability levels, in addition to the reportable levels,
are set forth in the Position Limit, Position Accountability and Reportable Level Table in theInterpretations & Special Notices Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial purposes shallapply to the Market Regulation Department on forms provided by the Exchange, and theMarket Regulation Department may grant qualified exemptions in its sole discretion.
Refer to Rule 559 for requirements concerning the aggregation of positions and allowable
exemptions from the specified position limits.
124101.E. Termination of Trading
A Micro Gold option shall expire at the close of trading four business days prior to the end of
the month preceding the option contract month; provided, however, that (1) if such day is aFriday, the expiration date shall be the preceding business day or (2) if such day is the day
immediately prior to an Exchange holiday, the expiration date shall be the preceding businessday. In the event that the official Exchange holiday schedule changes subsequent to the listingof a Micro Gold option, the originally listed expiration date shall remain in effect. In the eventthat the originally listed expiration day is declared a holiday, expiration will move to thebusiness day immediately prior.
124101.F. Type Option
The option is an American-style option which can be exercised on any Business Day prior toand until expiration day.

124102.

EXERCISE PRICES AND CHARACTERISTICS
Transactions shall be conducted for option contracts as set forth in Rule 300.20.

124103.

SPECIAL PRICE FLUCTUATION LIMITSAt the commencement of each trading day, the contract shall be subject to special fluctuation
limits as set forth in Rule 589 and in the Special Price Fluctuation Limits and Daily Price Limits
Table in the Interpretations & Special Notices Section of Chapter 5.