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Stock Options Contract Specifications |
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Option Types |
Puts and calls |
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Contract Size |
One board lot of the underlying shares |
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Contracted Value |
Option Premium multiplied by the Contract Size |
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Contract Months |
Spot, the next two calendar months, the next two quarter months
(The Exchange may introduce a third calendar quarter month and any other longer-dated expiry month in selected stock option classes as it deems necessary) 1 |
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Adjustments |
In the event of a rights issue, bonus issue, unusually large dividend, share consolidation or sub-division (corporate action or entitlement events), etc., the strike price and contract size will be adjusted to hold constant, as far as possible, the value of the option position |
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Minimum Fluctuation |
HK$0.01 |
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Option Premium |
Quoted in HK$ |
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Position limit in one market direction |
50,000 open contracts per option class for all expiry months combined (except for the 11 option classes stated in Note 2 below, each of which will have a position limit in one market direction of 30,000 open contracts per option class for all expiry months combined) |
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Reporting level |
1,000 open contracts per option class per expiry month |
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Strike Prices |
| HK$ |
Interval Group A (HK$) |
Interval Group B (HK$) |
| up to $2 |
$0.10 |
$0.10 |
| $2 to $5 |
$0.20 |
$0.20 |
| $5 to $10 |
$0.50 |
$0.50 |
| $10 to $20 |
$1.00 |
$0.50 |
| $20 to $50 |
$2.00 |
$1.00 |
| $50 to $100 |
$5.00 |
$2.50 |
| $100 to $200 |
$5.00 |
$2.50 |
| $200 to $300 |
$10.00 |
$5.00 |
| $300 to $500 |
$20.00 |
$20.00 |
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Trading Hours
(Hong Kong time) |
10:00 a.m. - 12:30 p.m. and
2:30 p.m. - 4:00 p.m. |
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Expiry Day |
Business day immediately preceding the last business day of the contract month |
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Exercise style (American) |
Options can be exercised at any time up to 6:15 p.m. on any business day and including the last trading day |
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Assignment Method |
Random assignment |
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Settlement on Exercise |
Physical delivery of underlying shares |
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Exercise Fee |
HK$2.00 |
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Settlement period |
T + 1 (options premium, payable in full)
T + 2 (stock transfer following exercise) |
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Trading Tariff |
| Tier 1 |
Tier 2 |
| HK$3.00 |
HK$1.00 |
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Note:
- 3rd quarter expiry month is available in the following Stock Option Classes:
Bank of China Limited
Cheung Kong (Holdings) Ltd
China Construction Bank Corporation
China Life Insurance Company Ltd
China Mobile Ltd
China Petroleum & Chemical Corporation
HSBC Holdings plc
Hutchison Whampoa Ltd
Industrial and Commercial Bank of China Limited
PetroChina Company Limited
- The Exchange may add new series with strike prices at intervals according to Interval Group A or Interval Group B as it deems necessary.
- Swire Pacific Ltd. "A"
The Wharf (Holdings) Ltd.
Henderson Land Development Co. Ltd.
CITIC Pacific Ltd.
Li & Fung Ltd.
COSCO Pacific Ltd.
China Merchants Holdings (International) Co. Ltd.
China Resources Enterprise, Ltd.
Cheung Kong Infrastructure Holdings Ltd.
Hong Kong Exchanges & Clearing Ltd.
Shanghai Industrial Holdings Ltd.
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The above information is subject to change upon market condition. Please refer to the Stock Options section in HKEx website for the most update information. |
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Stock Options
