What are IG's options CFD product details?

Notes

Please note: with regard to US markets, where reference is made to London time please apply daylight saving rules to the stated market close times when appropriate.

1. Options are not available for rollover, regardless of any instructions held on your account. All options settle basis a pre-determined expiry rule. To find out more, take a look at each market's individual information in-platform.

2. Positions not already closed by the client expire basis the first print on Bloomberg (E&OE) of the spot rate concerned at 10.00 New York time (this is normally 15.00 London time) on the Friday specified (or previous business day in the case of US public holidays).

Call options settle at the settlement price less the strike price, or at zero, whichever is greater.

Put options settle at the strike price, less the settlement price, or at zero, whichever is greater.

Our spread on weekly options depends on a range of factors including the level of the price quotation and the time to expiry. The usual spread range will be from three to ten points.

3. 24-hour dealing starts at 07.30 (London time) on Monday and finishes at 21.15 (London time) the following Friday. Weekly options can be traded from one hour after the previous settlement until one minute before the close of each market. Gold weekly options are quoted from 13.30-18.30 (London time) and oil weekly options are offered 13.30-19.30 (London time).

4. The margin requirement for buying a daily option is the opening price (or premium) multiplied by the contract value (per point in the underlying market). This is the maximum possible loss on the position. Please note however, that while the premium is the maximum you can lose, it is the maximum possible loss in the currency of your trade. You may therefore be exposed to currency risk.

5. The margin requirement for selling a weekly option is equal to the equivalent sized CFD in the underlying market.

6. When you trade in a currency other than your base currency your profit or loss will be realised in that currency. As a default, we will automatically convert any positive or negative balance on your account in a currency other than your base currency to your base currency instantly or daily. You may change this default at any time via our trading platform or by calling us.

Notes

1. Options are not available for rollover, regardless of any instructions held on your account. All options settle basis a pre-determined expiry rule. To find out more, take a look at each market's individual information in-platform.

2. Commodity options settle basis exchange-delivered prices and therefore expiry times are determined by exchange rules. The listed expiry rules may be subject to variation.

3. Options on the following commodities are available on request: High grade copper, Sugar no.11 world, Wheat (US), Corn, Coffee Arabica (New York), Soyabeans. Please call for details, but note that only higher threshold deal sizes will apply.

Notes

Please note: with regard to US markets, where reference is made to London time please apply daylight saving rules to the stated market close times when appropriate.

1. Options are not available for rollover, regardless of any instructions held on your account. All options settle basis a pre-determined expiry rule. To find out more, take a look at each market's individual information in-platform.

2. Positions not already closed by the client expire automatically on the date indicated.

Call options settle at the settlement price less the strike price, or at 0, whichever is greater.

Put options settle at the strike price, less the settlement price, or at 0, whichever is greater.

Daily forex options settle basis the first print recorded by Bloomberg (E&OE) at 20.00 (GMT) for the relevant currency pair.

3. Australia 200 options settle based on the Special Opening Quotation of the S&P/ASX 200 index on the last trading day calculated to one decimal place. The Special Opening Quotation is calculated using the first traded price of each component stock in the S&P/ASX 200 on the last trading day, irrespective of when those stocks first trade in the ASX trading day. This means that the first traded price of each component stock may occur at any time time between ASX market open and ASX market close (including the Closing Single Price Auction) on the last trading day. Should any component stock not have traded by ASX market close on the last dealing day, the last traded price of that stock will be used to calculate the Special Opening Quotation. Weekly ASX options are listed from the Friday open and settle against the Thursday cash close.

4. Wall Street options can be traded until 15.00 (Chicago time) on the last trading day and settle basis the Special Opening Quotation (SOQ) of the DJIA (calculated to two decimal places) on the third Friday of the contract month, as reported by the CBOE. Note that this is the day after the last trading day. The SOQ is calculated from the sequence of opening prices of the 30 DJIA stocks on the NYSE. Weekly Wall Street options settle basis the official close of the DJIA on Friday evening, and are not offered in the week of every month where there is a monthly Wall Street options expiry.

5. Monthly US 500 options expire basis the Special Opening Quotation of the S&P 500 on the 3rd Friday of the contract month, as reported by the CBOE. Note that this is the day after the last IG dealing day. This contract can be traded until 21.15 London time on the last dealing day. Weekly US 500 options will be settled basis the cash close of the S&P 500 as reported by CME at 15.00 (Chicago time). Weekly US 500 options are available 24 hours, from 14.30 on Monday to 21.00 on Friday (in-hours). Weekly US 500 options are not offered in the 3rd week of every month where there is a monthly US 500 options expiry.

6. FTSE® options settle based on the Exchange Delivery Settlement Price (EDSP) as reported by LIFFE on the last dealing day. The Exchange Delivery Settlement price is based on an intraday cash market auction of the FTSE® 100 index which commences at 10.10 (London time) on the last trading day. Uncrossing of the component stocks should be finished by 10.30 (London time). Weekly FTSE® 100 options settle basis the official close of the FTSE® 100 cash index on Friday afternoon.

7. Germany 40 options settle based on the final settlement value of the DAX as reported by Eurex on the last trading day. The settlement value is based on prices of the component shares of the DAX as determined in an intraday auction starting at 13.00 CET in the electronic trading system Xetra. Weekly Germany 40 options settle basis the official close of the DAX cash index on Friday afternoon are not offered in the week of every month where there is a monthly Germany 40 options expiry.

8. France 40 options settle based on the Exchange Delivery Settlement Price (EDSP) as reported by Eurex. This calculated by taking the mean of all index values calculated and disseminated between 14.40 and 15.00 (London time).

9. US Tech 100 options that settle based on the Special Opening Quotation of the Nasdaq 100 on the 3rd Friday of the contract month. Note this is the last day after the last IG dealing day. This contract can be traded until 21:15 London time on the last dealing day.

Hong Kong HS50 options settle basis the final settlement value calculated as the average of quotations of the Hang Seng Index taken at 5 minute intervals from five minutes after the start of and up to five minutes before the end of the continuous trading session of SEHK and the close of trading on SEHK on the Expiry Day.

10. EU Stocks 50 options settle based on the final settlement value of the EuroStoxx 50 index as reported by Eurex on the last trading day. This settlement value is based on the Average of the respective index values calculated between 11.50 and 12.00 (CET).

11. The margin requirement for buying a daily option is the opening price (or premium) multiplied by the contract value (per point in the underlying market). This is the maximum possible loss on the position. Please note however, that while the premium is the maximum you can lose, it is the maximum possible loss in the currency of your trade. You may therefore be exposed to currency risk.

The margin requirement for selling a stock index option is equal to the margin required for an equivalent sized CFD in the underlying market, and never more than the margin required for an equivalent sized CFD in the underlying market.

12. 24-hour dealing starts at 08.00 (London time) on Monday and finishes at 21.15 (London time) the following Friday (Hong Kong HS50 options start at 12.15 AEDT on Monday and finish at 08.15 AEDT the following Saturday). Ask dealers for information about public holidays.

13. When you trade in a currency other than your base currency your profit or loss will be realised in that currency. As a default, we will automatically convert any positive or negative balance on your account in a currency other than your base currency to your base currency instantly or daily. You may change this default at any time via our trading platform or by calling us.

Notes

Please note: with regard to US markets, where reference is made to GMT please apply daylight saving rules to the stated market close times when appropriate.

1. As long as there is a tradable option in the underlying, we trade all options on shares in the FTSE® 100, the DOW 30, the S&P 500, the Nasdaq 100 and some large cap Canadian and Australian stocks, as well as on a large selection of European options traded on Eurex or Euronext.

2. We charge a standard spread per lot, per side, on USD, EUR, CHF, GBP and AUD shares. There is no charge on expiry of a share option, but the standard spread will be charged for opening and closing positions. The charge is automatically applied to your account.

3. The standard spread charges are set out in the table above.

4. The margin requirement for buying an option contract is the opening price (or premium) multiplied by the number of shares.

For selling a share option, the margin required is the same as selling the equivalent number of shares in the underlying stock of the option. Margin off-setting can occur when you are long of a stock, and selling a call in the same stock, for example. In this case, margin is required only on one leg of the trade. The Margin Percentage for a particular share is calculated as a percentage of the opening value of the transaction. Margin Percentages for particular shares vary according to volatility and market conditions, and at the time of writing are as follows:

UK FTSE® 100 shares: 5% or 15%
American shares: 10% or higher
Australian shares: 5% or higher
We reserve the right to alter the Margin Percentage at any time.

5. Dealing hours are as follows:

UK share options: 08.00–16.30 (GMT)
American share options: 14.30–21.00 (GMT) †
European shares: Market hours for the relevant Exchange. Please ask for current details.
Australian share options: 10:15-15:55 (Sydney time) †
†It may sometimes not be possible to quote a particular share option if there is no price being published in the underlying market.

6. Australia - The last dealing day for share options is the Thursday before last Friday of the settlement month unless it falls on a public holiday.

Share options not already closed by the client are closed on or after the last dealing day for those share options, on the following basis:

Call options at the closing price of the underlying share as quoted on the primary exchange at or after the market close on the last trading day, less the strike price, or at 0, whichever is greater. The price used will be the closing price as quoted on the primary exchange.

Put options at the strike price, less the closing price of the underlying share as quoted on the primary exchange, at or after the market close on the last trading day, or at 0, whichever is greater. The price used will be the closing price as quoted on the primary exchange.

7. If there is a corporate action, for example rights issue, affecting the underlying share, we will determine the appropriate adjustment, if any, to be made to the related share option. These adjustments will take account of the dilutive or concentrative effect necessary to preserve the economic equivalent of the rights and obligations of the parties under the relevant margin trade immediately prior to that event. Exchanges provide details of such corporate events online.

8. When you trade in a currency other than your base currency your profit or loss will be realised in that currency. As a default, we will automatically convert any positive or negative balance on your account in a currency other than your base currency to your base currency instantly or daily. You may change this default at any time via our trading platform or by calling us.

9. With the exception of a small selection of shares, individual share options can only be traded over the phone, these contracts are not available online.