BIST Increasing MRDIN.E 4.6 19.79 % YBTAS.E 2930 19.78 % SANKO.E 3.04 12.18 % HUBVC.E 5.5 11.79 % ADBGR.E 4.43 11.59 % Decreasing ORMA.E 3.65 -18.89 % BOYP.E 15.84 -12.29 % PKENT.E 103.3 -11.71 % NIBAS.E 8 -11.11 % TSPOR.E 1.29 -9.79 % VIOP Most Change O_XU030E1019C124.000 % 400,00 O_SAHOLE1019C9.00 % 325,00 O_XU030E1019C134.000 % 300,00 O_XU030E1019C122.000 % 298,48 O_AKBNKE1119C7.30 % 252,94 Highest Open Position F_USDTRY1019 639.778 F_XAUTRYM1019 557.878 F_USDTRY1219 455.860 F_XU0301019 359.547 F_EKGYO1019 157.100

FX OPTIONS


USD/TRY OPTIONS


Underlying Securities
USD/TRY

Option Class
Call and put options.

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

Contract Size
1,000 USD.

Tick Size
Prices shall be entered for 1,000 USD as the premium value in terms of Turkish Lira significant to one decimal. (Example: 20.1, 20.2 etc.) Minimum price tick is 0.1.

Contract Months
All calendar months (2consecutive months - the current contract month and the next calendar month shall be concurrently traded).

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)

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 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.

Final Settlement Price
For call options, final settlement price is calculated as the difference between the value of multiplying the average of USDollar selling and buying rate announced by the CBRT at 15:30 of the last trading day by 1,000 and the option contract’s strike price. The final value is rounded to the nearest price tick.

For put options, final settlement price is calculated as the difference between the option contract’s strike price and the value of multiplying the average of USDollar selling and buying rate announced by the CBRT at 15:30 of the last trading day by 1,000. The final value is rounded to the nearest price tick. If the related selling rate is not announced by CBRT on the last trading day, the final settlement price shall be determined by the Settlement Price Committee.

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.

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.

 

0,1-49,9

Constant

+50,00

Base Price: 5,00

Lower Limit: -

Upper Limit: 55,00

USDTRY Options Contracts

 

50,0-99,9

Percentage (%)

+%400

Base Price: 70,00

Lower Limit: -

Upper Limit: 350,00

 

100,0 and above

Constant

+500,00

Base Price: 150,00

Lower Limit: -

Upper Limit: 650,00

Strike Prices

Strike price tick

Strike price tick

Strike price tick

For call options, 50 Turkish Lira (Example: 2,000 , 2,050 , 2,100 etc.)

For put options, 50 Turkish Lira (Example: 2,000 , 2,050 , 2,100 etc.)

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 value of multiplying the average of USDollar selling and buying rate announced by the Central Bank of the Republic of Turkey at 15:30 of the last trading day by 1,000. At four different strike prices such that one is “in the money”, one is “at the money” and two are “out of the money” shall be available for each of call and put options.

In 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.

Margins
Clearing legislation shall be applied.