Options spread bet product details

 

Forex
Options market and dealing hours	One point means	Minumum bet	Spread range
EUR/USD	0.0001	£2	8 – 16
24 hours with gaps [5][12]	$/€
USD/JPY	0.01	£2	8 – 16
24 hours with gaps [5][12]	¥/$
GBP/USD	0.0001	£2	8 – 16
24 hours with gaps [5][12]	$/£
USD/CHF	0.0001	£2	8 – 16
24 hours with gaps [5][12]	SF/$
USD/CAD	0.0001	£2	8 – 16
24 hours with gaps [5][12]	C$/$
AUD/USD	0.0001	£2	8 – 16
24 hours with gaps [5][12]	$/A$
GBP/JPY	0.01	£2	8 – 16
24 hours with gaps [5][12]	¥/£
EUR/JPY	0.01	£2	8 – 16
24 hours with gaps [5][12]	$/€
EUR/GBP	0.0001	£2	6 – 14
24 hours with gaps [5][12]	£/€
Commodities
Options market and dealing hours	One point means	Minimum bet	Spread range
Oil - US Crude	cents/barrel	£1	5 – 8
24 hours with gaps
Gold	$/1 troy ounce	£5	0.8 –1.6
24 hours with gaps

 

Stock Indices
Options market and dealing hours	One point means	Bet size equivalent to one contract	Minimum bet	Spread range
FTSE® 100 Futures	1 index point	£10	£2	4 – 8
24 hours [5]
FTSE 100 Weekly Futures	1 index point	£10	£2	4 – 5
24 hours [e]
Wall Street Futures	1 index point	$10	£2	8 – 20
24 hours [5]
Wall Street Weekly Futures	1 index point	$10	£1	6 – 8
24 hours [5]
US 500 Futures	1 index point	$100	£10	0.8 – 2
24 hours [5]
US 500 Weekly Futures	1 index point	$100	£10	0.8 – 2
24 hours [5]
US Tech 100 Futures*	1 index point	$100	$100	04-Aug
24 hours
Weekly US Tech 100 Futures	1 index point	$100	$100	04-Aug
08.05-21.00
Germany 40 Futures	1 index point	€ 5	£2	4 – 6
24 hours [5]
Germany 40 Weekly Futures	1 index point	€ 5	£1	3 – 6
24 hours [5]
Australia 200 Futures	1 index point	AUD10	£2	4 – 12
24 hours
EU Stocks 50 Futures	1 index point	€ 10	£2	2 – 5
08.00-16.30
France 40 Futures	1 index point	€ 10	£2	2 – 3
08.00-16.30
Daily Hong Kong 50	1 index point	HKD50	£1	6 – 16
24 hours [5][12]
Daily Japan 225	1 index point	JPY500	£1	6 – 16
24 hours [5][12]
Australia 200	1 index point	AUD10	£2	04-Dec
Weekly Futures
24 hours [6]
Commodities
Options market and dealing hours	One point means	Bet size equivalent to one contract	Minimum bet	Spread range
Gold	$/1 troy ounce	$100	£5	0.4 - 1.2
24 hours with gaps
Silver	1 cent/troy ounce	$50	£50	0.4 - 1.6
24 hours with gaps
Copper, High-Grade	0.01 cents/pound	$2.50	Call	20 - 160
13.10-19.00
Oil - US Crude	1 cent/barrel	$10	£2	05-Jun
24 hours with gaps
Sugar No. 11 World	0.01/cents/pound	$50	Call	04-Oct
13.10-18.30
Wheat (US)	1 cent/bushel	$50	Call	01-Apr
Corn	1 cent/bushel	$50	Call	01-Apr
15.30-19.15
Coffee Arabica (New York)	00.1 cents/pound	$3.75	Call	40 - 200
13.00-18.30
Cocoa (New York)	$/1 troy ounce	$100	Call	01-Mar
13.30-18.30
Soyabeans	1 cent/bushel	$50	Call	02-May
15.30-19.15
Interest Rates
Options market and dealing hours	One point means	Bet size equivalent to one contract	Minimum bet	Spread range
Eurodollar	0.01	$25	$25	01-May
07.00-21.00
Sterling Deposit (3-month)	0.01	£12.50	£12	01-May
07.30-18.00
German Bund	0.01	€ 10	£10	01-May
07.00-18.00
Euribor (3-month)	0.01	€ 25	£25	01-May
07.02-18.00

 

Daily options
Stock Indices
Options market	Contract months	Last dealing day
Daily FTSE® 100	n/a	Settles based on each day's official closing price [9]
Daily Wall Street	n/a	Settles based on each day's official closing price [9]
Daily US 500	n/a	Settles based on each day's official closing price [9]
Daily Germany 40	n/a	Settles based on each day's official closing price [9]
Daily France 40	n/a	Settles based on each day's official closing price [9]
Daily Spain 35	n/a	Settles based on each day's official closing price [9]
Daily Italy 40	n/a	Settles based on each day's official closing price [9]
Daily Japan 225	n/a	Settles based on each day's official closing price [9]
Daily Hong Kong HS50	n/a	Settled basis the first cash print provided by the exchange after 8.00am (GMT)
Daily Australia 200	n/a	Settles based on each day's official closing price [9]
Forex
Options market	Contract months	Last dealing day
EUR/USD	n/a	Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [9]
USD/JPY	n/a	Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [9]
GBP/USD	n/a	Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [9]
EUR/GBP	n/a	Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [9]
AUD/USD	n/a	Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [9]
Commodities
Options market	Contract months	Last dealing day
Daily Gold Futures	n/a	Settles based on official closing price of Comex liquid futures contract
Daily Silver Futures	n/a	Settles based on official closing price of Comex liquid futures contract
Oil - Daily US Crude	n/a	Settles based on official closing price of NYMEX liquid futures contract
Weekly/quarterly options
Options market	Contract months	Last dealing day
EUR/USD	Mar, Jun, Sep, Dec	Quarterly: third Wed. of the contract month, at 10am NY time
		Weekly: settles at spot rate at 10am NY time on specified Friday [11]
USD/JPY	Mar, Jun, Sep, Dec	Quarterly: third Wed. of the contract month, at 10am NY time
		Weekly: settles at spot rate at 10am NY time on specified Friday [11]
GBP/USD	Mar, Jun, Sep, Dec	Quarterly: third Wed. of the contract month, at 10am NY time
		Weekly: settles at spot rate at 10am NY time on specified Friday [11]
USD/CHF	Mar, Jun, Sep, Dec	Quarterly: third Wed. of the contract month, at 10am NY time
		Weekly: settles at spot rate at 10am NY time on specified Friday [11]
USD/CAD	Mar, Jun, Sep, Dec	Quarterly: third Wed. of the contract month, at 10am NY time
		Weekly: settles at spot rate at 10am NY time on specified Friday [11]
AUD/USD	Mar, Jun, Sep, Dec	Quarterly: third Wed. of the contract month, at 10am NY time
		Weekly: settles at spot rate at 10am NY time on specified Friday [11]
GBP/JPY	Mar, Jun, Sep, Dec	Quarterly: third Wed. of the contract month, at 10am NY time
		Weekly: settles at spot rate at 10am NY time on specified Friday [11]
EUR/JPY	Mar, Jun, Sep, Dec	Quarterly: third Wed. of the contract month, at 10am NY time
		Weekly: settles at spot rate at 10am NY time on specified Friday [11]
EUR/GBP	Mar, Jun, Sep, Dec	Quarterly: third Wed. of the contract month, at 10am NY time
		Weekly: settles at spot rate at 10am NY time on specified Friday [11]
Options futures
Stock Indices
Options market	Contract months	Last dealing day
FTSE® 100 Futures	Next three quarterly plus nearest two non-quarterly months	Third Friday or previous business day of contract month
FTSE® 100 Weekly Futures	Weekly	From 08.00 Monday to 1630 Friday (London time)
Wall Street Futures	Next two quarterly plus nearest two non-quarterly months	Third Friday or previous business day of contract month
Wall Street Weekly Futures	Weekly	From 14.30 on Monday to 21.00 on Friday (London time)
US 500 Futures	Next two quarterly plus nearest two non-quarterly months	Third Friday or previous business day of contract month
US 500 weekly Futures	Weekly	From 14.30 on Monday to 21.00 on Friday (London time).
US Tech 100 Futures	All liquid months	Third Friday or previous business day of contract month [g]
Germany 40 Futures	Next two quarterly plus nearest two non-quarterly months	Third Friday or previous business day of contract month
Germany 40 weekly Futures	Weekly	From 08.00 on Monday to 16.30 on Friday (London time)
Australia 200 Futures	Front quarter only	Third Thursday or previous business day of contract month
EU Stocks 50 Futures	Next two months	Third Friday or previous business day of contract month
France 40 Futures	Next two months	Third Friday of contract month
Hong Kong HS50 Futures	Next two months	The business day immediately preceding the last business day of the contract month
Japan 225 Futures	Next two months	Second Thursday or previous business day of contract month
Commodities
Options market	Contract months	Last dealing day
Gold	Feb, Apr, Jun, Aug, Oct, Dec	Fourth bus. day prior to contract month (if Friday or prior to Exchange holiday then previous bus. day) [5]
Silver	Mar, May, Jul, Sep, Dec	Fourth bus. day prior to contract month (if Friday or prior to Exchange holiday then previous bus. day) [5]
Copper, High-Grade	Mar, May, Jul, Sep, Dec	Fourth bus. day prior to contract month (if Friday or prior to Exchange holiday then previous bus. day) [5]
Oil - US Crude	Any month	17th of prev. month (if Fri. then previous bus. day) [5]
Sugar No. 11 World	Mar, May, Jul, Oct	15th of prev. month (or previous bus. day) [5]
Wheat (US)	Mar, May, Jul, Sep, Dec	Last Fri. or prev. bus. day of contract month [5]
Corn	Mar, May, Jul, Sep, Dec	Second Fri. or prev. bus. day of prev. month [5]
Coffee Arabica (New York)	Mar, May, Jul, Sep, Dec	Second Fri. or prev. bus. day of prev. month [5]
Cocoa (New York)	Mar, May, Jul, Sep, Dec	First Fri. or prev. bus. day of prev. month [5]
Soyabeans	Jan, Mar, May, Jul, Aug, Sep	Fourth Fri or prev. bus. day of contract month [5]
Interest Rates
Options market	Contract months	Last dealing day
Eurodollar	All liquid months	Second London bus. day before third Wed. of contract month [5]
Sterling Deposit (3 month)	All liquid months	Third Wed. of contract month at 10.00 (London time) [5]
German Bund	All liquid months	Last bus. day of prev. month [5]
Euribor (3 month)	All liquid months	Two bus. days prior to 3rd Wed of contract month at 11.00 (London time) [5]

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. Bets not already closed by the client expire automatically at the date/time indicated. No spread is charged on automatic closings.

3. Our quotes are an 'all-in' spread on all options which includes both our spread and the market spread. This applies to both opening and closing transactions. The size of the spread depends on a range of factors including the level of the option premium, the time to expiry and the liquidity of the underlying market.

4. Spreads are subject to variation, especially in volatile market conditions.

5. Commodity and interest rate options settle based on exchange-delivered prices and therefore expiry times are determined by exchange rules. The listed expiry rules may be subject to variation.

6. 24-hour dealing is available on monthly FTSE®, Germany 30, Wall Street and US 500 options. This runs from 08.05 on Monday until 21.15 on Friday (London time) with the exception of Wall Street and US 500 options (monthly and weekly) which are offered from 0115 hrs London time. Japan 225, Australia 200 and Hong Kong HS50 24-hour dealing runs from the open of the cash market on Mondays until 21:15 Friday (London time). Weekly Wall Street options settle basis the official close of the DJIA on Friday evening. 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 Germany 30 options settle basis the official close of the DAX cash index on Friday afternoon. Weekly FTSE options settle basis the official close of the FTSE cash index every Friday afternoon. Daily options are available 24 hours on major forex pairs, FTSE® 100, Germany 30, Wall Street and US 500, beginning within an hour of the market close. Quoting may be suspended on public holidays.

7. The margin for 'buying' an option is the opening price (or premium) multiplied by the size of the bet. This is the maximum amount that the bet can lose. The margin for 'selling' an option is the same as the margin incurred when trading the underlying futures market.

8. Daily FTSE® 100, Wall Street, Germany 40, France 40, Spain 35, Netherlands 25 and Sweden 30 options are settled against the official settlement levels of the cash FTSE 100, cash DJIA, cash DAX 40, cash CAC 40, cash Ibex 35, cash AEX and cash OMXS30 index markets respectively. Daily options on forex are settled basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time).

9. Weekly forex options expire based upon the first print on Bloomberg (E&OE) of the spot rate concerned at 10.00 New York time (normally 15.00 London time) on the Friday specified (or previous business day in the case of US public holidays).

10. Weekly and quarterly forex options are available for online dealing. Unlisted expiries up to 12 months are available on request.

11. For all daily and weekly options, bets will be accepted from one hour after the previous day's settlement until one minute before expiry.

12. Bets on US 500, US Tech 100 and Wall Street options can be dealt until the close of business on the Thursday before the third Friday. They expire based upon the Special Opening Quotation of the S&P 500 Index on the 3rd Friday of the contract month.

13. 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.