![]() ![]() ![]() Notwithstanding the foregoing, in the case of certain options expiring on or after Februthat the Clearing Corporation has designated as grandfathered, the term "expirationĭate" shall mean the Saturday immediately following the third Friday of the expiration month. Open for business, the preceding day on which such Exchange is open for business. Of such option contract and (ii) in the case of such an option expiring on or after February 1, 2015, the third Friday of the expiration month of such option contract, or if such Friday is a day on which the Exchange on which such option is listed is not (g) Unless separately defined elsewhere in these Rules, the term "expiration date" means (i) in the case of such an option expiring prior to February 1, 2015, the Saturday immediately following the third Friday of the expiration month (f) The term "exercise price" means the specified price per unit at which the current index value may be purchased or sold upon the exercise of the option. ![]() The "closing index value" shall be the last index value reported on a business day. The current index value with respect to a reduced-value long term options contract is one-tenth of the current index value of the related index option. (e) The term "current index value" with respect to a particular index options contract means the level of the underlying index reported by the reporting authority for the index, or any multiple or fraction of such reported level specifiedīy NOM. (d) The term "call" means an options contract under which the holder of the option has the right, in accordance with the terms of the option, to purchase from the Clearing Corporation the current index value times the index multiplier. (c) The term "A.M.-settled index option" means an index options contract for which the current index value at expiration shall be determined as provided in Section 11(a)(5) of this Options 4A. (b) The term "American-style index option" means an option on an industry or market index that can be exercised on any business day prior to expiration. (a) The term "aggregate exercise price" means the exercise price of the options contract times the index multiplier. ![]()
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