BIST VIOP Most Change O_ISCTRE1217C4.75 % -100,00 O_ISCTRE1217C4.75 % -100,00 O_ISCTRE1217C4.75 % -100,00 O_ISCTRE1217C4.75 % -100,00 O_ISCTRE1217C4.75 % -100,00 Highest Open Position O_ISCTRE1217C4.75 00

SINGLE STOCK OPTIONS CONTRACT SPECIFICATIONS

Option Class
Call and put options

Exercise Style
European; an option may only be exercised on the expiry date.
 
Contract Size
100 shares of underlying stock per contract

Tick Size
Prices are offered for the premium value of one underlying share.
TL 0.01 per share = TL 1.00 (contract size 100 shares)

Contract Months
All calendar months (three consecutive months - the current contract month and the next two calendar months shall be concurrently traded. If December is not one of those three months, an extra contract with an expiration month of December shall be launched.)

Settlement Method
Physical delivery of the underlying security. No automatic exercise on expiration day.

Trading Hours
Continuous trading from 09:30 to 18:10 (local time)

Settlement Period
T+2 for physical delivery. Premium Losses are deducted from the accounts at the end of T day,  premium profits are added to the accounts on T day as well.

Daily Settlement Price
The daily settlement price is calculated as follows at the end of the session and rounded to the nearest price tick:
a) The weighted average price of all the trades executed within the last 10 minutes of the session,
b) If less than 10 trades were realized in the last 10 minutes of the session, the weighted average price of the last 10 trades executed during the session,
c) If less than 10 trades were realized in the session, the weighted average price of all the trades executed during the session,
d) If no trades were done during the session, theoretical prices calculated, considering prices of underlying asset and other contracts based on the same underlying asset,
will be determined as the daily settlement price.
If the daily settlement price cannot be calculated with the above methods by the end of the session, or the prices calculated do not reflect the market correctly, the Exchange may determine the daily settlement price in consideration of theoretical price, spot price of the underlying asset, the previous day’s settlement price or the best bid and ask prices at the end of the session..
Trade reporting will not be taken into consideration in the above calculations. The Settlement Price Committee’s right to change the daily settlement price is under reserve.

Expiry Date
Last business day of the contract month.

Last Trading Day
Last business day of the contract month.

Strike Prices
Strike prices of the single stock option contracts in the trading system shall be determined in accordance with the following table.

 

Strike Price Intervals (TRY)

Strike Price Increments (TRY)

0.01 – 0.99

0.05

1.00 – 2.49

0.10

2.50 – 9.99

0.25

10.00 – 24.99

0.50

25.00 – 49.99

1.00

50.00 – 99.99

2.50

100.00 – 249.99

5.00

250.00 – 499.99

10.00

500.00 - 999.99

25.00

1,000.00 and upper

50.00

 


In the BISTECH system, at the money strike price level will be determined for each contract month by using the theoretical price calculation method based on the underlying price and the contracts will be created.

At least one of these contracts will start trading at five different strike price levels; one in-the-money, one at-the money, and three out-of-the money.


Daily Price Limit

Base price is the price determined by the Settlement Price Committee on the day the relevant contract is introduced for trading, and used in calculating the daily price change limits. For the other days, base price is the settlement price of the previous day.

 Instrument Class  Base Price  Limit  Limit Value Limit Example  
 Equity Options
 Contracts
 0,01-0,99  Constant  +3,00  

Base Price: 0,50

Lower Limit: -

Upper Limit: 3,50
 1,00-14,99  Percentage (%)  +%300  

Base Price: 2,50

Lower Limit: -

Upper Limit: 10,00
   15,00 and above  Constant  +100,00  

Base Price: 60,00

Lower Limit: -

Upper Limit: 160,00


Margins
Clearing legislation shall be applied.