It is calculated continually by summing the component prices and reducing this total by the current Index divisor. The minimum trade size is one option contract. Expiration Cycle Three consecutive near-term expiration months plus two successive months in the March cycle. The Saturday following the third Friday of the expiration month. Limited Exercise of Options European-style.
Writers are subject to assignment only at that time.
Check with your broker to ascertain the cut-off times for exercise and provisions for automatic exercise. If the Index is below 200, the interval will be 2 points. Option Premium Quotations Stated in points and fractions. Settlement Next New York business day following expiration. No position limits.