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Options contracts are instruments that give the holder of the instrument the right, not the obligation, to buy or sell the underlying asset at a predetermined price. There are two main types of options – a “call” option or a “put” option:
DGCX offers a standardised US Dollar denominated Option contract on Gold Futures and Option contract on Indian Rupee Futures as of September 26, 2011.
A call option gives the owner the right to buy the underlying asset at a given price (also called “Strike price”), whereas the seller has only the obligation and not the right (for example; you would buy a call option in case you believe the underlying futures price will move higher. Let us say that you expect gold futures to move higher, you will want to buy a gold call option).
A put option gives the owner the right to sell the underlying asset at a given price and the seller has the obligation to buy (for example; you would buy a put option if you believe the underlying futures price will move lower. For example, if you expect gold futures to move lower, you will want to buy a gold put option).
| Trading Symbol | DINRO |
| Style | European |
| Contract Size | One DGCX INR Futures contract |
| Price Quotation | US Dollars in Cents per 100 Indian Rupees |
| Tick Size | US$ 0.000001 per INR or US$ 2 per tick |
| Maximum Daily Price Fluctuation | No Daily Limit# |
| Delivery Months | The nearest two (2) Contract Months are available at all times The options are European-style and can be exercised at expiry |
| Last Trading Day | Last Trading Day for INR options shall be two (2) Business Days prior to the Last Day of Trading of the month. (Same as the INR Futures) |
| If the Last Day of Trading falls on an Exchange holiday, Last Trading Day shall occur on the previous business day. | |
| If the Last Day of Trading for underlying INR Futures is amended for any reason, the Last Trading Day for INR Options will be amended accordingly. | |
| New Contract Listing | Business day immediately following the Last Trading Day |
| Exercise of Options | On the last trading day, all in-the-money options are exercised automatically against Daily Settlement Price. |
| All out-of-the-money options automatically expire worthless and will not be exercised. | |
| Strike Prices | For each INR Option series, there shall be an INR option chain with a strike interval of INR 0.25 converted into US cents equivalent in 2 decimal points. |
| At the outset, INR option chain will initially be available at an interval of INR 5 from the at the money strike converted into US cents equivalent in 2 decimal points. | |
| At all times there will be a minimum of 3 in-the-money, 1 at-the-money and 3 out-of-money options available. | |
| Once the settlement price reaches close to the lower end or higher end of the INR option chain, additional option strikes will be introduced for a minimum INR 5.00 with an interval of INR 0.25 converted into US cents equivalent in 2 decimal points. | |
| Position Limit | To be determined by the exchange |
| Margin Requirement | Buyer pays full premium, while the seller is margined on the SPAN basis |
| Trading Hours | 07:00 – 23:30 Hours Dubai time (GMT+4) |
| Trading Days | Monday through to Friday |
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