S&P/TSX 60 Index Options (SXO)
Underlying index
The S&P/TSX 60 Index, which is designed to represent leading companies in leading industries.
Market Capitalization: Larger companies, as measured by the float adjusted market capitalization, are considered for the S&P/TSX 60 Index. A company's float adjusted market capitalization is calculated by removing control blocks of 10% or more.
Multiplier
C$10 per S&P/TSX 60 Index point.
Expiry cycle
At a minimum, the nearest three expiries plus the next two expiries in the designated quarterly cycle: March, June, September, December. Annual expiry of December for long term options.
Minimum fluctuation of the option premium
- 0.01 index point = C$0.10 per contract, for premiums of less than 0.10 index points
- 0.05 index points = C$0.50 per contract, for premiums of 0.10 index points or more
Strike prices
At a minimum, five strike prices bracketing the current underlying index's market price.
Contract type
European style.
Last trading day
The business day prior to expiration.
Expiration day
The third Friday of the contract month, provided it is a business day. If it is not a business day, expiration will occur on the first preceding business day.
Final settlement price
Cash-settled. The final settlement price is the official opening level of the underlying index at expiration.
Position reporting threshold
15,000 contracts on the same side of the market, in all contract months combined.
Position limit
Information on position limits can be obtained from the Bourse as they are subject to periodic changes. See Circulars.
Price limit
A trading halt will be invoked in conjunction with the triggering of "circuit breakers" on the underlying index.
Trading hours
9:31 a.m. to 4:15 p.m.
Clearing corporation
Canadian Derivatives Clearing Corporation (CDCC).
Trading procedures
- Procedures applicable to the execution of cross transactions and the execution of prearranged transactions
- Procedures applicable to the execution of strategies involving options
- Procedures for the cancellation or adjustment of trades
SXOTM is a trademark of Bourse de Montréal Inc.
The information contained in this document is for information purposes only and shall not be construed as legally binding. This document is a summary of the product's specifications which are set forth in the Rules of Bourse de Montréal Inc. (“Rules of the Bourse”). While Bourse de Montréal Inc. endeavors to keep this document up to date, it does not guarantee that it is complete or accurate. In the event of discrepancies between the information contained in this document and the Rules of the Bourse, the latter shall prevail. The Rules of the Bourse must be consulted in all cases concerning products' specifications.