Options on Three-month TONA Futures
Options on Three-month TONA Futures are the transactions to trade the right to buy (call options) or sell (put options) a certain volume of Three-month TONA futures contract at a predetermined price ("strike price").
An option buyer obtains the right to buy or sell an option contract by paying option premium to an option seller. In exchange of receiving option premium, the option seller assumes the obligation to let the option buyer exercise the right (“exercise” or “option exercise”). In Options market, an investor trades an option’s price or premium which will be influenced by the futures price of underlying assets and other factors.
| Underlying asset【Trading Calendar】 | Three-month TONA futures ※Please refer to the 【Trading Calendar】 for the underlying futures contract corresponding to the option contract month. |
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|---|---|---|
| Trading unit | One trading unit of Three-month TONA futures | |
| Price quotation | Quoted in Three-month TONA futures points (0.001) | |
| Strike price interval | 0.125 | |
| Tick size & value | 0.001（0.001%＝250 yen） | |
| Contract months | Nearest 5 Quarterly Months（3,6,9,12） | |
| Exercise style | First Trading Day to Last Trading day (American type) On the last trading day, ITM options (options with intrinsic value) will be automatically exercised |
|
| Last trading day【Trading Calendar】 | Same as respective underlying futures contract | |
| Final settlement day | The first business day following the last trading day | |
| Trading hours (JST) | 8:30 - 8:45 | Pre-open period (Order entry without execution) |
| 8:45 - 11:30 | Day(morning) session (Cleared as today's trade) | |
| 11:30 - 12:30 | Restricted period (Cancel and volume cutback only) | |
| 12:30 - 15:30 | Day(afternoon) session (Cleared as today's trade) | |
| 15:30 - 20:00 | Evening session (Cleared as the next day's trade) | |
| Trading hours for the contract on its last trading day (JST) | 8:30 - 8:45 | Pre-open period |
| 8:45 - 9:30 | Day session | |
| Matching Method | Auction method with FIFO algorithm （Price/Time Priority） | |
| Block Trades | Available (Minimum volume: 100 contracts) | |
| Give-up Trades | Available | |
| Margin | SPAN® | |
| Ticker Code | Refinitiv【0#JO3+】 Bloomberg【YPOA Comdty】 QUICK【030】 CQG （Put options）【P.US.O3】 （Call options）【C.US.O3】 Trading Technologies【O3O】 |
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market information
For details, see"Outline for Three-month TONA Futures option contract"
For order types and modifiers available for this product, see "Order Types".
