Chapter 115
Gold Option
115100.

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

115101.

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

Exercise into Underlying Futures
February
AprilJune
AugustOctoberDecember

115101.A. Trading Schedule
The hours of trading for this contract shall be determined by the Exchange.
115101.B. Trading Unit
A 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 theExchange.
115101.C. Price Increments
Prices shall be quoted in dollars and cents per ounce. The minimum price increment
will be $0.10 per troy ounce of Gold.
115101.D. Position Limits, Exemptions, Position Accountability and Reportable
Levels
The applicable position limits and/or accountability levels, in addition to the reportablelevels, are set forth in the Position Limit, Position Accountability and Reportable Level
Table in the Interpretations & Special Notices Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial
purposes shall apply to the Market Regulation Department on forms provided by theExchange, and the Market Regulation Department may grant qualified exemptions in
its sole discretion.
Refer to Rule 559 for requirements concerning the aggregation of positions andallowable exemptions from the specified position limits.
115101.E. Termination of Trading
A Gold option shall expire at the close of trading four business days prior to the endof the month preceding the option contract month; provided, however, that (1) if suchday is a Friday, the expiration date shall be the preceding business day or (2) if suchday is the day immediately prior to an Exchange holiday, the expiration date shall bethe preceding business day. In the event that the official Exchange holiday schedulechanges subsequent to the listing of a Gold futures option, the originally listed

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expiration date shall remain in effect. In the event that the originally listed expiration
day is declared a holiday, expiration will move to the business day immediately prior.
115101.F. Type of Option
The option is an American-style option which can be exercised on any business day
prior to and until expiration day.
EXERCISE PRICES AND CHARACTERISTICS
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
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
Table in the Interpretations & Special Notices Section of Chapter 5.