BIST Increasing HATEK.E 11.73 15.91 % OYAYO.E 2.94 14.84 % RALYH.E 9.38 12.47 % SONME.E 7.03 11.76 % ALGYO.E 19.66 11.33 % Decreasing BASCM.E 3.06 -9.73 % GSRAY.E 3.79 -7.56 % TSPOR.E 5.94 -7.33 % RYGYO.E 8.8 -6.98 % RYSAS.E 9.34 -6.60 % VIOP Most Change O_USDTRYKE0220P5950 % 2700,00 O_XU030E0220P132.000 % 300,00 O_XU030E0220P134.000 % 140,74 O_THYAOE0220P13.60 % 131,82 O_XU030E0220C124.000 % -100,00 Highest Open Position F_XAUTRYM0220 567.837 F_XAUTRYM0420 400.134 F_USDTRY0220 308.093 F_EKGYO0320 304.511 F_TSKB0320 292.833

BIST 30 INDEX OPTIONS


Underlying Securities

BIST 30 Price Index.

Option Class


Call and put options.

Exercise Style

European; an option may only be exercised on the expiry date.

Contract Size

Underlying security is the 1/1000 of the index values. Contract size for the index options is 100 underlying securities.

Tick Size

Prices are offered for the premium value of one underlying security. TRY0.01 per underlying security=TRY1.00 (contract size 100 underlying securities).

Contract Months

February, April, June, August, October and December (Contracts with three different expiration months nearest to the current month shall be traded concurrently. If December is not one of those three months, an extra contract with an expiration month of December shall be launched.)

In addition to standard contract months, flexible contracts can be created for a maximum period of the expiry day up to 180 days by users.

Settlement

Cash settlement.

Trading Hours

Continuous trading from 09:30 to 18:15 (local time).

Settlement Period

T+1 (first day following the expiry date) Premium Losses are deducted from the accounts at the end of T day, 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 normal 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 normal session,

b) If less than 10 trades were realized in the last 10 minutes of the normal session, the weighted average price of the last 10 trades executed during the normal session,

c) If less than 10 trades were realized in the normal session, the weighted average price of all the trades executed during the session,

d) If no trades were done during the normal 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 normal 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.

Final Settlement Price

For call options, the final settlement price shall be calculated by weighting of the time weighted average of index values of the last 30 minutes of continuous auction in the equity market and closing price of the index with 80% and 20%, respectively. The difference between the calculated weighted average price (divided by 1000) and strike price is rounded to the nearest price tick and called as the final settlement price.

For put options, the final settlement price shall be calculated by weighting of the time weighted average of index values of the last 30 minutes of continuous auction in the equity market and closing price of the index with 80% and 20%, respectively.  The difference between strike price and the weighted average price (divided by 1000) is rounded to the nearest price tick and called as the final settlement price.

Expiry Date

Last business day of the contract month. Expiry day is the expiration date for flexible contracts. In case domestic markets are closed for half day due to an official holiday, expiry day shall be the preceding business day.

Last Trading Day

Last business day of the contract month. Last trading day is the expiration date for flexible contracts. In case domestic markets are closed for half day due to an official holiday, last trading day shall be the preceding business day.

Strike Prices

Strike price tick is 2 (2,000 index points)

Strike prices are calculated with previous business day’s closing price of underlying asset which is BIST30 index at spot market by applying theoretical pricing method. For each maturity, at least elevenstrike prices such that two are “in the money”, one is “at the money” and eight are “out of the money” shall be availableIn addition to standard strike prices, flexible contracts can be created by users with the strike prices which are between below/above 20% of minimum/maximum of the current strikes.

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

BIST 30 Index Options

 0,01-14,99

 Constant

 +20,00

Base Price: 5,00

Lower Limit: -

Upper Limit: 25,00

 

 15,00-99,99

 Percentage (%)

 +%200

Base Price: 50,00

Lower Limit: -

Upper Limit: 150,00

 

 100,00 and above

 Constant

 +50,00

Base Price: 150,00

Lower Limit: -

Upper Limit: 200,00



Margins

Clearing legislation shall be applied.