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Options on Gold Futures Contract Specification | ||||||||
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| Trading Symbol |
DGO |
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| Contract Size |
One DGCX Gold Futures contract
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| Price Quotation |
US Dollars and cents per fine ounce
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| Tick Size |
US$ 0.10 per troy ounce
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| Maximum Daily Price Fluctuation | No Daily Limit | ||||||||
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| Delivery Months |
The nearest three contract months (February, April, June, August, October and December) are available at all times The options are American-style and can be exercised at any time up to expiration. On the first day of trading for any options contract month, there will be a minimum of 7 strike prices each for puts and calls
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| Last Trading Day |
Last trading day for gold futures options are the tenth business day prior to the start of tender period of the underlying Gold futures contract If the last trading day falls on a Friday or an Exchange holiday, last trading day occurs on the previous business day
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| New Contract Listing | Business day immediately following the last trading day | ||||||||
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| Exercise of Options |
On the last trading day, all in-the-money options are exercised automatically against Settlement Price, however, should a member choose not to exercise an in-the-money option, the member is required to notify the Exchange latest by 23:45 hrs (15 minutes after trading ceases) All out-of-the-money options automatically expire worthless and they can not be exercised
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| Strike Prices | For each option contract, the strike prices are at increments of US$10.00 | ||||||||
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| Position Limit | Initially, same as specified for Gold Futures contract | ||||||||
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| Margin Requirement | Buyer pays full premium, while the seller is margined on the SPAN basis | ||||||||
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| Trading Hours | 08:30 - 23:30 Hours Dubai time (GMT+4) | ||||||||
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| Trading Days | Monday through to Friday | ||||||||
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| Option Settlement Premium | |||||||||
 Value Weighted Average Price (VWAP) of trades executed in last 10 minutes for the trading day provided there were at least 15 trades executed during the last 10 minutes |
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| VWAP of last 15 trades executed during the day provided 15 trades are executed |
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| The Options Settlement Premium as declared by a Price Committee consisting of Exchange / Clearing Corporation officials |
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| 1.) For traded contracts, The Exchange shall determine the Option Settlement Premium based on following order: | |||||||||
| 2.) For contracts not traded on a given trading day, Options Settlement Premium will be determined based on theoretical prices | |||||||||
