SMO - S&P/TSX60 Mini Index Options

Underlying

S&P/ TSX 60 Mini Index (one-tenth the value of the standard S&P/TSX 60 Index).

Trading unit

C$100 per S&P/TSX 60 Mini Index point

Minimum fluctuation of the option premium (tick / increment)

• 0.01 Index point representing $1.00 per contract for Premiums of less than 3 Index points
• 0.05 Index point representing $5.00 per contract for Premiums of 3 Index points and over; and

Expiry cycle

• Daily expiries: the expiration date shall be, at a minimum, the close of business on each of the next two Mondays, Tuesdays, Wednesdays, and Thursdays, respectively, that are business days beyond the current week but which are not an expiration day for any other Options already listed on the same Underlying Interest. If it's not a business day, the daily expiry shall not be listed for that day.
• Weekly expiries: the expiration date shall be any of the five Fridays following the listing week which is a business day, but which is not an expiration day for any other Options already listed on the same underlying. If any such Friday is not a business day, then the expiration date will be the first preceding business day that is not an expiration day for any other Options already listed on the same Underlying Interest.
• Monthly expiries: the expiration date shall be the third Friday of, at least, the nearest four consecutive months, plus the next four months in the designated quarterly Cycle: March, June, September and December. If any such Friday is not a business day, then the expiration date will be the first preceding business day.
• Long term expiries: The expiration date shall be the third Friday of January. If any such Friday is not a business day, then the expiration date will be the first preceding business day.

Strike prices

Strike prices are set at a minimum of 0.25 index point intervals.

At a minimum, 5 strike prices bracketing the current underlying index's market price.

Contract type

European style.

Final Settlement Price

Options on the S&P/TSX 60 Mini Index are cash-settled.
The final Settlement Price is the official closing level of the S&P/TSX 60 Mini Index on the expiration day.

Last trading day

• Daily expiries: trading ceases at the close of the expiration day, provided it is a business day. If it is not a business day, the daily expiry shall not be listed for that day.
• Weekly expiries: trading ceases at the close on the Friday of expiry week, provided it is a business day. If it is not a business day, trading will cease on the first preceding business day.
• Monthly expiries: trading ceases at the close on the third Friday of the expiry Month, provided it is a business day. If it is not a business day, trading will cease on the first preceding business day.

Expiration day

Expiration day is equal to the last trading day.

Position reporting threshold

15,000 option contracts.

Position limit

As specified in Article 6.309 A) of the Rules: information can be obtained from the Regulatory Division as they are subject to periodic changes. See the position limits page on the Regulatory Division website.

Delivery

Via the CDS Clearing and Depository Services Inc., on the first business day following the exercise date.

Trading hours

Regular session: 9:30 a.m to 4:00 p.m ET

Clearing corporation

Canadian Derivatives Clearing Corporation (CDCC)