Options on Exchange-Traded Funds
Units of exchange-traded funds.
One option contract represents 100 units of the exchange-traded funds.
Nearest three months plus the next two months in the designated quarterly cycle of March, June, September and December.
Annual expiry of March (long-term options).
Last trading day / Expiration
Trading ceases on the 3rd Friday of the contract month, providing it be a business day; if not, the 1st preceding day. Options expire on the last trading day.
- C$0.01 for premiums of less than C$0.10
- C$0.05 for premiums of C$0.10 and up
For more information on penny trading, refer to circular 031-13.
500 contracts on the same side of the market in all contract months combined.
Information on position limits can be obtained from the Exchange as they are subject to periodic changes. See Circulars.
A trading halt will be invoked in conjunction with the triggering of "circuit breakers" in the underlying.
- Set at a minimum of C$0.50 intervals
- Set at a minimum of C$1.00 intervals (long-term options)
Via the Canadian Derivatives Clearing Corporation (CDCC)
Via the CDS Clearing and Depository Services Inc., on the 3rd business day following the exercise date.
Trading hours (Montréal time)
9:30* a.m. to 4:00 p.m.
* The regular session of the ETF option market will open at 9:30 a.m. Each option class will then open for trading when a trade occurs on its underlying security on a recognized Canadian exchange. If no such trade has yet occurred, the option class will open for trading at 9:35 a.m.
Canadian Derivatives Clearing Corporation (CDCC)