| Underlying | S&P 500 Index calculated by Standard and Poor’s. |
| Ticker | ISP |
| Option style | American. |
| Contract size | S&P 500 Index Futures Contract multiplied by the index point value in Brazilian Reals, each point USD50.00. |
| Quotation | Option premium, expressed in S&P 500 Index points. |
| Tick size | 0.25 index point. |
| Round-lot | 1 contract. |
| Last trading day | Last trading day preceding the expiration date. |
| Expiration date | 3rd Friday of the contract month. If this day is a non-trading day on the exchange, the expiration date will be on the following business day established by CME Group. |
| Contract months | Quarterly Options:
• expiring in march, june, september and december, with the underlying contracts being the March, June, September and December contract months of the S&P 500 Futures Contract.
Serial Options:
• expiring in january and february with the underlying contract being the march contract month of the S&P 500 Futures Contract;
• expiring in april and may with the underlying contract being the june contract month of the S&P 500 Futures Contract;
• expiring in july and august with the underlying contract being the september contract month of the S&P 500 Futures Contract;
• expiring in october and november, with the underlying contract being the december contract month of the S&P 500 Futures Contract. |
| Option exercise | On the expiration date, the option exercise is performed automatically by B3, according to the following conditions:
Call option (call):
a) If the result of the difference between the settlement price of the contract object and the exercise price for the principal owner, is positive; and
b) the principal holder does not register on the trading system its intention not to exercise its call on the expiration date.
Put option (put):
a) If the result of the difference between the exercise price and the settlement price of the contract subject to the principal owner, is positive; and
b) the principal holder does not register on the trading system its intention not to exercise its put on the expiration date. |
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