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U.S. Dollar Options
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Options |
Monthly |
Weekly |
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Date launched |
October 1994
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November 2016 |
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Trading dates |
For details, click here
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Underlying asset |
NIS/U.S. dollar exchange rate |
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Contract size |
10,000 U.S. dollars |
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Exercise |
Monthly |
Weekly |
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Option life |
In January, February, April, May, July, August, October and November new 3-month option series are opened. In March and September new 6-month option series are opened. In June and December new 12-month option series are opened. As a result, at any point in time 5 series of options are traded – for the coming three months, the end of the next quarter and the end of the year.
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Every Tuesday a new series of weekly options is opened with the exception of the Tuesday two weeks before the expiration of monthly derivatives. Usually, two weekly series will be traded each day. |
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Price quotations |
in New Israeli Shekels (NIS) |
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Tick size |
For prices up to NIS 20 – increments of NIS 1.
Between NIS 20 and 100 – increments of NIS 2.
Between NIS 100-2OO – increments of NIS 5.
Above NIS 2OO- increments of NIS 10. |
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Strike prices |
In increments of 2.5, 5 or 10 Agorot (NIS 1/100) |
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Final trading day |
The Tuesday preceding the last Wednesday of the exercise month. |
Tuesday |
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Reference strike price |
The last dollar exchange rate released by the Bank of Israel prior to the exercise date, on the condition that on this day trading is held on TASE. |
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Exercise date |
The last Wednesday in the exercise month. |
Every Wednesday that is not the last Wednesday of the exercise month. |
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Type of option |
European style |
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Manner of settlement |
Cash settlement. All “in-the-money” options are automatically exercised. |
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Open interest limits |
100,000 contracts.
The limit is enforced only during the three trading days preceding the exercise date and it applies solely to options and futures exercisable on the upcoming exercise date. |
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Daily price fluctuation ceilings |
None |
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U.S. Dollar Futures
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Futures |
Monthly |
Weekly |
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Date launched |
November 1996 |
November 2016 |
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Trading dates |
For details, click here
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Underlying asset |
NIS/US dollar exchange rate |
NIS/US dollar exchange rate |
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Contract size |
10,000 US dollars. |
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Expiration |
Monthly |
Weekly |
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Futures life span |
In January, February, April, May, July, August, October and November new 3-month futures series are opened. In March and September new 6-month series are opened and in June and December new 12-month series are opened. As a result, at any given point in time 5 series of futures for the coming three months, the end of the next quarter and the end of the year. |
Every Tuesday a new series of weekly futures is opened, with the exception of the Tuesday two weeks before the expiration of monthly derivatives. Usually, two weekly series will be traded each day. |
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Price quotations |
In New Israeli Shekels (NIS) |
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Tick size |
NIS 10 |
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Final trading day |
The Tuesday preceding the last Wednesday of the expiration month. |
Tuesday |
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Reference expiration price |
The last dollar exchange rate released by the Bank of Israel prior to the expiration date, on the condition that on this day trading is held on TASE. |
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Expiration date |
The last Wednesday in the expiration month |
Wednesday |
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Settlement accounting |
Daily mark-to-market cash settlement |
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Open interest limits |
100,000 contracts
The limit is enforced only during the three trading days preceding the exercise date and it applies solely to options and futures exercisable expiring on the upcoming exercise expiration date |
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Daily price fluctuation ceilings |
None |
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