| Symbol |
|
MSH
|
| Index Description |
|
The Morgan Stanley Technology Index is an equal-dollar weighted index designed to measure the performance of a cross section of highly capitalized U.S. companies that are active in nine technology subsectors: computer services, design software, server software, PC software and new media, networking and telecommunications equipment, server hardware, PC hardware and peripherals, specialized systems and semiconductors. The MSH Index was developed with a base value of 200.00 on December 16, 1994. (The index value was later split 2-for-1 on March 20, 2000.)
|
| Index Multiplier |
|
The index multiplier means that the options premiums are multiplied by 100 to obtain the actual premium amount.
|
| Strike Price Interval |
|
The strike price interval is $5.00
|
| 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 three near-term months followed by three additional months from the March quarterly cycle (March, June, September and December).
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| Exercise Style |
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European. MSH options generally may be exercised only on the last business day before expiration.
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| Last Trading Day |
|
Trading in MSH options 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 |
|
MVH
|
| Settlement Value |
|
The exercise-settlement value, MVH, 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. In the event that a stock in the index does not open on the day in which the exercise-settlement value is determined, the last reported sales price in the primary market will be used in calculating the exercise-settlement value. The exercise-settlement amount is equal to the difference between the exercise-settlement value, XSM, 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 |
|
31,500 contracts on the same side of the market.
|
| Trading Hours |
|
9:30 A.M. - 4:00 P.M. Eastern Time (New York time). Position and Exercise limits are subject to change.
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