Product Specifications

Equity FLEX Options Product Specifications

Minimum Size:
Under a pilot program previous Equity FLEX minimum size requirements are eliminated. Please go to www.cboe.com/legal and refer to Regulatory Circular RG10-021 for more information.

Strike Price:
Any strike price in penny increments. Strike prices may also be expressed as a percentage of the level of the underlying stock.

Premium Price:
Premiums may be expressed as a specific dollar amount per contract in increments that are established on a class basis and which have generally been set in penny increments. Premiums may also be expressed as a percentage of the level of the underlying stock. For strike prices specified in other than underlying values, premium prices specified in other than a dollar amount per contract, and size specified in other than a number of contracts, CBOE calculates actual strike prices, premium prices and number of contracts for submission to The Options Clearing Corporation for clearing and settlement.

Expiration Date:
Any business day up to 15 years from trade date.

Exercise Style:
American or European.

Trade Dissemination:
A text message describing the volume and price of any trade can be received via the terminals of vendors who offer the FLEX retrieval service.

Settlement of Option Exercise:
All Equity FLEX Option exercises will result in physical delivery of the underlying security. Settlement price will be the closing stock price on exercise or expiration day.

Trading Hours:
8:45 a.m. - 3:00 p.m. Central Time (Chicago time).

For additional information on Equity FLEX, visit the Equity FLEX Options page under the Institutional tab.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. No statement within the website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the website should not be construed as an endorsement or an indication of the value of any product, service, or website. The Terms and Conditions govern use of this website and use of this website will be deemed acceptance of those Terms and Conditions.