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 index options are settled basis the official settlement level provided by the relevant exchange following the cash close. However, 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. Many of the daily options trade around the clock from their relevant opening time on Sunday evening or Monday morning up to their relevant close on Friday’s session. Typically, these markets will cease trading following their settlement and open for the next day’s expiry within the next hour. This can vary for some markets, i.e. commodity dailies which will expiry and only reopen at the US cash close (almost always 21.00 London time). Please check the individual opening times for confirmation. European index options, excluding FTSE and DAX, will only be available within the European session.

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.

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 cases of an FX market holiday).

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. 

3. 24-hour dealing starts at 23:00 (London time) on Sunday and finishes at 21.15 (London time) the following Friday. 

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. 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.

Monthly index options follow their own specific settlement processes meaning these contracts can expire at times different to the cash close on the date of expiry. To see the specific information relating to a particular market, go to this market on the platform and refer to the Info tab of the deal ticket. Here you can see the expiry rules, last dealing and expiry times.

Weekly and daily options will expire basis the official settlement level posted by the exchange following the cash close on their relevant expiry date. There is only one exception to this, our daily and weekly Hang Seng options, which will expire basis a first cash print following the cash close on the relevant market session.

3. 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.

4. 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.

5. 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.