International Securities Exchange, LLC. :: Products Traded :: Index Options

Product Details

The Mini-Nasdaq-100 Index (MNX) is based on 1/10th the value of the Nasdaq-100 Index (NDX). The Nasdaq-100 Index is a modified market capitalization-weighted index representing 100 of the largest non-financial domestic and international issues listed on the Nasdaq Stock Market. The index was created in 1985 with a base value set to 250 on February 1 of that year. The index level was halved on January 3, 1994 after reaching a level of nearly 800 on December 31, 1993.

Data & Changes

Product Specifications

Components


PRODUCT SPECIFICATION
Symbol		MNX

Index Description		The Mini-Nasdaq-100 Index (MNX) is based on 1/10th the value of the Nasdaq-100 Index (NDX). The Nasdaq-100 Index is a modified market capitalization-weighted index representing 100 of the largest non-financial domestic and international issues listed on the Nasdaq Stock Market. The index was created in 1985 with a base value set to 250 on February 1 of that year. The index level was halved on January 3, 1994 after reaching a level of nearly 800 on December 31, 1993.

Index Multiplier		The index multiplier means that the options premiums are multiplied by 100 to obtain the actual premium amount.

Price Interval		Strike price intervals are at least $2.50 for certain near-the-money series in near-term expiration months when the Full-size or Mini Nasdaq 100 Index is at a level below 200, and 5 point strike price intervals for other options series with expirations up to one year, and at least 10 point strike price intervals for longer-term options.

Minimum Trading Increments		The minimum trading increment for an options contract trading at less than $3.00 is $0.01. The minimum trading increment for an options contract trading at $3.00 or higher is $0.05.

Expiration Date		Saturday following the third Friday of the expiration month.

Expiration Months		Up to three near-term months followed by three additional months from the March quarterly cycle (March, June, September and December). Long-term expiration months may also be available.

Exercise Style		European. MNX options generally may be exercised only on the last business day before expiration.

Last Trading Day		Trading in MNX options will ordinarily cease on the business day (usually a Thursday) preceding the day on which the exercise-settlement value is calculated.

Settlement Type		A.M., cash settlement

Settlement Value Symbol		XMS

Settlement Value		The exercise-settlement value, XMS, is calculated based on the Nasdaq Official Opening Price (NOOP) for each of the component securities on the last business day before the expiration date (usually a Friday). In the event a component security in the Nasdaq 100 Index does not have a Nasdaq Official Opening Price on Settlement Day, the closing price from the previous trading day will be used to calculate the Settlement Value. The exercise-settlement amount is equal to the difference between the exercise-settlement value, XMS, and the exercise price of the option, multiplied by $100. Exercise will result in delivery of cash on the business day following expiration.

Position and Exercise Limits		There are no position or exercise limits.

Trading Hours		9:30 A.M. - 4:15 P.M. Eastern Time (New York time).

As of: 01-29-10

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