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ISE-CCM Alternative Energy (POW)

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Symbol POW
Index Description The ISE Alternative Energy Index includes companies engaged in the development of technology relating to alternative energy sources such as: geothermal heat, hydrogen/fuel cell, hydropower, nuclear fusion, solar energy, and wind energy.
Index Multiplier 100. The index multiplier means that the options premiums are multiplied by 100 to obtain the actual premium amount.
Strike Price Interval Strike price intervals are at least $2.50.
Minimum Trading Increments The minimum trading increment for an options contract trading at less than $3.00 is $0.05. The minimum trading increment for an options contract trading at $3.00 or higher is $0.10.
Expiration Date Saturday following the third Friday of the expiration month.
Expiration Months Up to four near-term months followed by one additional month from the March quarterly cycle (March, June, September and December).
Exercise Style European. Options generally may be exercised only on the last business day before expiration.
Last Trading Day Trading will ordinarily cease on the business day (usually a Thursday) preceding the day on which the exercise-settlement value is calculated.
Settlement Type A.M., cash settlement
Settlement  Value Symbol JXY
Settlement Value The exercise-settlement value is calculated using the opening (first) reported sales price in the primary market of each component stock on the last business day (usually a Friday) before the expiration date. If a stock in the index does not open on the day in which the exercise-settlement value is determined, the last reported sales price will be used in calculating the exercise-settlement value. The exercise-settlement amount is equal to the difference between the exercise-settlement value and the exercise price of the option, multiplied by $100. Exercise will result in delivery of cash on the business day following expiration.
Position and Exercise Limits The position and exercise limits are 31,500 contracts on the same side of the market. Position and Exercise limits are subject to change.
Trading Hours 9:30 A.M. - 4:00 P.M. Eastern Time (New York time)