To ensure that each component stock continues to represent approximate equal weight in the Index, adjustments are made annually, based on closing prices on the third Friday in December. The minimum trade size is one option contract. Expiration Cycle Three consecutive near-term expiration months plus two successive months from 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 expiration.
Check with your broker to ascertain 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. Position Limits 25,000 contracts on the same side of the market, provided no more than 15,000 of such contracts are in the nearest expiration month series.