Securities Options

Contract Specifications

Contract Put and call options based on each underlying security.
Opening Date July 18, 1997
Trading Hours 9:00-11:35, 12:30-15:15
(Note) An order acceptance period ("pre-closing") is established for 5 minutes before the Itayose on close.
Trading Hours
Contract Months 2 consecutive near-term months, plus 2 months from the March cycle.
Strike Prices 5 exercise prices are initially opened, which are the exercise price closest to the closing price of the underlying security and 2 prices above and 2 prices below the said exercise price.
Last Trading Day The business day preceding the second Friday of each expiration month. (When the said Friday is a non-business day, it shall be the previous business day.) Trading in a new expiration month begins on the business day following the last trading day.
Exercise Type European. The option may be exercised only on its expiration day (same as last trading day).
Contract Unit The minimum trading unit of each underlying security.
Tick Size

When the underlying "contract size" is even.

Premium Tick size
less than ¥50 ¥0.1
\50 - less than ¥1,000 ¥0.5
¥1,000 - less than ¥3,000 ¥1
¥3,000 - less than ¥30,000 ¥5
¥30,000 - less than ¥50,000 ¥25
¥50,000 - less than ¥100,000 ¥50
¥100,000 - less than ¥1,000,000 ¥500
¥1,000,000 or more ¥5,000

When the underlying "contract size" is odd.

Premium Tick size
less than ¥3,000 ¥1
¥3,000 - less than ¥30,000 ¥5
¥30,000 - less than ¥50,000 ¥25
¥50,000 - less than ¥100,000 ¥50
¥100,000 - less than ¥1,000,000 ¥500
¥1,000,000 or more ¥5,000
Price Limits
  1. The price limit range will be calculated by multiplying the reference price for price limits of an underlying security on the designated market by 25%
  2. Price Limits/ Circuit Breaker Rule
  3. Immediately Executable Price Range Rule (Dynamic Circuit Breaker (DCB)):
    As follows depending on the underlying security price
  4. Reference Price of Underlying Securities DCB Price Range
    less than \500 \10
    \500 or more to less than \1,000 \20
    \1,000 or more to less than \3,000 \50
    \3,000 or more to \5,000 \100
    \5,000 or more to \10,000 \200
    \10,000 or more to \30,000 \500
    \30,000 or more to \50,000 \1,000
    \50,000 or more to \100,000 \2,000
    \100,000 or more to \300,000 \5,000
    \300,000 or more to \500,000 \10,000
    \500,000 or more \20,000

    Immediately Executable Price Range Rule
Circuit Breaker Rule (SCB) Price Limits/ Circuit Breaker Rule
Strategy Trades TMC (Tailor Made Combination) which is ordered by the participants after the participants make the structure of the strategy trading is available.
J-NET Trading Available (Tick size: \0.1, Minimum trading unit: 1 unit)
(Note) In case that minimum trading unit of underlying stock is odd, tick size is \1.0
J-NET Trading
Flexible Options Trading Available
Flexible Options Trading
Settlement Physical delivery of each underlying security.
Margin Calculated by using SPAN® (Margin offsetting with other index futures and options contracts is allowed.)
Give-Up Available
Give-Up System
Position-Transfer Available
Position Transfer System(JSCC)
Position Limits and Reporting of Large Positions Please refer to the excel file below ("Related Documents").

Related Documents

List of Underlying Issues for Securities Options