Generally 100 shares of stock per unadjusted contract. The option may be exercised prior to the expiration date. As of the date of this publication, a holder that tenders an exercise notice on any business day will receive delivery of the underlying stock on the fifth business day following the date of exercise.
Limits vary according to the number of outstanding shares and trading volume.
Hedge exemptions may be available. Contact exchanges for details. American-style options may be exercised on any business day prior to expiration. European-style options may be exercised only during a specified period of time immediately prior to the expiration date. Settlement generally occurs the next business day following the exercise.