Options CFD product details

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 as follows:

Daily options on FTSE 100® and Wall Street are settled against the official settlement levels of the cash FTSE and cash Wall Street markets. Daily US 500 options are settled against the official settlement of the SPX 500 cash.

Daily options on Germany 40, France 40, Italy 40, Spain 35 and Sweden 30 settle against the official settlement levels of the cash DAX 40, cash CAC 40, cash MIB 40, cash IBEX 35, cash AEX and cash OMXS30 markets.

Daily options on Hong Kong HS50 are settled basis the first cash print provided by the exchange after 8.00am (GMT).

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

Oil - Daily US Crude options settle basis the official closing price of the liquid futures contract of US Light Crude Oil on NYMEX (New York Mercentile Exchange) at 19.30 (London time).

Daily Gold options settle basis the official closing price of the nearest liquid month of the relevant futures contract on NYMEX (New York Mercantile Exchange) at 18.30 (London time).

Daily Silver options settle basis the official closing price of the nearest liquid month of the relevant futures contract on NYMEX (New York Mercantile Exchange) at 18.25 (London time).

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.

3. Our spread on daily options depends on a range of factors including the level of the price quotation and the time to expiry. For Daily FTSE 100®, Wall Street and Germany 40 the spread will range from two to eight points. For Daily US 500 options the spread will range from 0.3 to 1 point. For Daily France 40 the spread will range from three to four points. For Daily Italy 40 and Spain 35 the spread will range from 5 to 6 points. For Daily FX options the spread will range from 4 to 10 points. For EUR/GBP the spread will range from 2 to 9 points, and for AUD/USD from 1 to 12 points.

4. 24-hour dealing on daily options starts at 07.30 (London time) on Monday and finishes at 21.15 (London time) the following Friday. Daily options can normally be traded from one hour after the previous settlement until one minute before the close of each market. Oil - Daily US Crude can be traded from 21.00 to 19.27 (London time).

5. 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.

6. The margin requirement for selling a daily 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.

7. When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account 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 when your position is closed. You may change this default at any time via our trading platform or by calling us.

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 10.00-18.30 (London time) and oil weekly options are offered 10.00-19.30 (London time).

4. The margin requirement for buying a weekly 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.

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 and will be booked to your account 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 when your position is closed. You may change this default at any time via our trading platform or by calling us.

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.

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 (London time) 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 dealt 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 dealt in 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 08.15 on Monday to 21.00 on Friday (in-hours).

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 stock index 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.

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. 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 and will be booked to your account 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 when your position is closed. You may change this default at any time via our trading platform or by calling us.

We charge a standard commission on USD, EUR, CHF, GBP, CAD and AUD share options.

Our share options are a special form of CFD, which give a client exposure to changes in option prices but cannot be exercised by or against the client, and thus cannot result in delivery of actual shares.