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Index Options - OBX-index
| OBX-index® Options | |
| Exchange contract code | OBX |
| Contract size | Contract valued at NOK 100 per index point (e.g. value NOK 39,000 at 390.00) |
| Unit of trading | 100 |
| Pricing unit/quotation | NOK per index point |
| Minimum price movement (tick size and value) | Central Order Book: If the premium of an order at order entry is below or equal to NOK 0.25, the tick size is NOK 0.01 (NOK 1 per contract); if the premium of an order at order entry is between NOK 0.25 and 4.00, the tick size is NOK 0.05 (NOK 5 per contract); if the premium of an order at order entry is between NOK 4.00 and 8.00, the tick size is NOK 0.10 (NOK 10 per contract); if the premium of an order at order entry is above NOK 8.00, the tick size is NOK 0.25 (NOK 25 per contract). Large-in-Scale Facility: NOK 0.0001 (NOK 0.01 per contract) |
| Option style | European style Holders of long positions are only entitled to exercise their options on the expiration date. |
| Expiry months | 1, 2, 3 monthly; 6, 9, 12 months quarterly (of the March, June, September, December cycle) |
| Introduction of new exercise prices and exercise price intervals | See the document "Series Introduction Policy OBX-index Options" in "Related documentation" to find the series introduction policy. |
| Introduction of new expiry months | New expiry months are available for trading on the first business day after the expiry of a maturity. |
| Wholesale services | Large-in-Scale Facility. See the “LIS Thresholds” document for the minimum size thresholds. |
| Euronext market | Oslo |
| Last trading day | Trading ceases at 16:20 CET on the third Friday of the expiry month. In the event that the third Friday is not a business day, the Last Trading Day shall normally be the last business day preceding the third Friday. |
| Exercise | Exercise until 19:45 CET on Last Trading Day only[1] |
| Settlement | Cash Settlement based on the EDSP |
| Settlement day | The premium settlement date is the first trading day after the Last Trading Day, provided that premium settlement is specified in the contract document. |
| Exchange Delivery Settlement Price (EDSP) | Price is calculated as a volume-weighted average price of automatically matched trades for the index stocks quoted on Euronext Oslo Børs on the expiration date. The calculation shall be corrected for cancelled trades. |
| Option premium | Payable in full by the buyer on the business day following a transaction. |
| Clearing organization | Euronext Clearing |
| Trading hours | Central Order Book: 09:01 – 16:20 CET Large-in-Scale Facility: 07:15 – 18:30 CET |
| Trading platform | Optiq |
| Algorithm | Central order book applies a price-time trading algorithm with priority given to the first order at the best price. |
| Last update | 9 SEP 2024 |
| [1] On the Last Trading Day, in-the-money options are automatically exercised, unless contrary instructions are received from the client/member. Please check the exact exercise rules with your broker. | |
| In the United States this product may only be offered and sold to prescribed entities under specified conditions |