Options bet product details

Trade on short and medium term volatility with our range of flexible options

Daily options

Stock Indices

Options market & dealing hours One point means Bet size equivalent to one contract Minimum bet Spread range
Daily FTSE® 100
24 hours with
gaps [5][12]
1 index point £10 £2 3 – 6
Daily Wall Street
24 hours with
gaps [5][12]
1 index point $10 £2 4 – 7
Daily US 500
24 hours with
gaps [5][12]
1 index point $100 £10 0.3 – 1.0
Daily Germany 30
24 hours [5][12]
1 index point €5 £2 3 – 6
Daily France 40
08.00-16.30
1 index point €10 £2 3 – 6
Daily Spain 35
08.00-16.30
1 index point €10 £2 5 – 12
Daily Italy 40
08.00-16.30
1 index point €5 £2 12 – 16
Daily Netherlands 25
08.00-16.28
1 index point €100 £2 0.2 – 0.4
Daily Sweden 30
08.05-16.20
1 index point 100SEK £5 0.7-1
Daily Australia 200
10.15-16.00
1 index point AUD10 £2 2.5 – 4

Forex

Options market & dealing hours One point means Bet size equivalent to one contract Minimum bet Spread range
EUR/USD
24 hours with
gaps [5][12]
0.0001
$/€
n/a £2 3 – 6
USD/JPY
24 hours with
gaps [5][12]
0.01
¥/$
n/a £2 3 – 6
GBP/USD
24 hours with
gaps [5][12]
0.0001
$/£
n/a £2 3 – 6
EUR/GBP
24 hours with
gaps [5][12]
0.0001
£/€
n/a £2 2 – 6
AUD/USD
24 hours with
gaps [5][12]
0.0001
$/A$
n/a £2 3 – 6

Commodities

Options market & dealing hours One point means Bet size equivalent to one contract Minimum bet Spread range
Daily Gold futures
24 hours
$/1 troy ounce $100 £5 0.8 – 1.6
Daily Silver futures
24 hours
cents/troy ounce $50 £5 4 – 8
Oil – Daily US Crude
07.30-19.27
cents/barrel $10 £2 4 – 10

Weekly/quarterly options

Forex

Options market & dealing hours One point means Minumum bet Spread range
EUR/USD
24 hours with gaps [5][12]
0.0001
$/€
£2 8 – 16
USD/JPY
24 hours with gaps [5][12]
0.01
¥/$
£2 8 – 16
GBP/USD
24 hours with gaps [5][12]
0.0001
$/£
£2 8 – 16
USD/CHF
24 hours with gaps [5][12]
0.0001
SF/$
£2 8 – 16
USD/CAD
24 hours with gaps [5][12]
0.0001
C$/$
£2 8 – 16
AUD/USD
24 hours with gaps [5][12]
0.0001
$/A$
£2 8 – 16
GBP/JPY
24 hours with gaps [5][12]
0.01
¥/£
£2 8 – 16
EUR/JPY
24 hours with gaps [5][12]
0.01
$/€
£2 8 – 16
EUR/GBP
24 hours with gaps [5][12]
0.0001
£/€
£2 6 – 14

Commodities

Options market & dealing hours One point means Minimum bet Spread range
Oil – US Crude
07.30-19.27
cents/barrel £1 5 – 8
Gold
07.30-18.30
$/1 troy ounce £5 0.8 –1.6

Futures options

Stock Indices

Options market & dealing hours One point means Bet size equivalent to one contract Minimum bet Spread range
FTSE® 100 Futures
24 hours [5]
1 index point £10 £2 3 – 6
FTSE 100 Weekly Futures
24 hours [e]
1 index point £10 £2 3 – 6
Wall Street Futures
24 hours [5]
1 index point $10 £2 8 – 16
Wall Street Weekly Futures
24 hours [5]
1 index point $10 £1 6 – 16
US 500 Futures
24 hours [5]
1 index point $100 £10 0.8 – 2
US 500 Weekly Futures
24 hours [5]
1 index point $100 £10 0.8 – 2
US Tech 100 Futures*
24 hours
1 index point $100 $100 1 – 30
Germany 30 Futures
24 hours [5]
1 index point €5 £2 3 – 6
Germany 30 Weekly Futures
24 hours [5]
1 index point €5 £1 3 – 6
Australia 200 Futures
24 hours
1 index point AUD10 £2 4 – 8
EU Stocks 50 Futures
08.00-16.30
1 index point €10 £2 2 – 5
France 40 Futures
08.00-16.30
1 index point €10 £2 3 – 6
Netherlands 25 Futures
08.05-16.30
1 index point €100 £10 3 – 7
Netherlands 25 Weekly Futures
08.05-16.25
1 index point €100 £10 0.15-0.25

Commodities

Options market & dealing hours One point means Bet size equivalent to one contract Minimum bet Spread range
Gold
13.30-18.30
$/1 troy ounce $100 £5 1-3
Silver
13.25-18.25
cents/troy ounce $50 £50 1 – 4
Copper, High-Grade
13.10-19.00
0.01 cents/pound $2.50 £2 20 – 160
Oil – US Crude
13.30-19.30
cents/barrel $10 £2 10 – 20
Sugar No. 11 World
13.10-18.30
0.01/cents/pound $11.20 £10 4 – 10
Wheat (US) cents/bushel $50 £50 1 – 4
Corn
15.30-19.15
cents/bushel $50 £50 1 – 4
Coffee Arabica (New York)
13.00-18.30
00.1 cents/pound $3.75 £4 40 – 200
Cocoa (New York)
13.30-18.30
$/1 troy ounce $100 £100 1 – 3
Soyabeans
15.30-19.15
cents/bushel $50 £50 2 – 5

Interest Rates

Options market & dealing hours One point means Bet size equivalent to one contract Minimum bet Spread range
Eurodollar
07.00-21.00
0.01 $25 $25 1 – 5
Sterling Deposit (3-month)
07.30-18.00
0.01 £12.50 £12 1 – 5
German Bund
07.00-18.00
0.01 €10 £10 1 – 5
Euribor (3-month)
07.02-18.00
0.01 €25 £25 1 – 5

Expiry details

Daily options

Stock Indices

Options market Contract months Last dealing day
Daily FTSE® 100 n/a Settles based on each day’s official closing price [8]
Daily Wall Street n/a Settles based on each day’s official closing price [8]
Daily US 500 n/a Settles based on each day’s official closing price [8]
Daily Germany 30 n/a Settles based on each day’s official closing price [8]
Daily France 40 n/a Settles based on each day’s official closing price [8]
Daily Spain 35 n/a Settles based on each day’s official closing price [8]
Daily Italy 40 n/a Settles based on each day’s official closing price [8]
Daily Netherlands 25 n/a Settles based on each day’s official closing price [8]
Daily Australia 200 n/a Settles based on each day’s official closing price [8]

Forex

Options market Contract months Last dealing day
EUR/USD n/a Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [8]
USD/JPY n/a Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [8]
GBP/USD n/a Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [8]
EUR/GBP n/a Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [8]
AUD/USD n/a Settles basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time) [8]

Commodities

Options market Contract months Last dealing day
Daily Gold Futures n/a Settles based on official closing price of Comex liquid futures contract
Daily Silver Futures n/a Settles based on official closing price of Comex liquid futures contract
Oil – Daily US Crude n/a Settles based on official closing price of NYMEX liquid futures contract

Weekly/quarterly options

Options market Contract months Last dealing day
EUR/USD Mar, Jun, Sep, Dec Quarterly: third Wed. of the contract month, at 10am NY time
Weekly: settles at spot rate at 10am NY time on specified Friday [10]
USD/JPY Mar, Jun, Sep, Dec Quarterly: third Wed. of the contract month, at 10am NY time
Weekly: settles at spot rate at 10am NY time on specified Friday [10]
GBP/USD Mar, Jun, Sep, Dec Quarterly: third Wed. of the contract month, at 10am NY time
Weekly: settles at spot rate at 10am NY time on specified Friday [10]
USD/CHF Mar, Jun, Sep, Dec Quarterly: third Wed. of the contract month, at 10am NY time
Weekly: settles at spot rate at 10am NY time on specified Friday [10]
USD/CAD Mar, Jun, Sep, Dec Quarterly: third Wed. of the contract month, at 10am NY time
Weekly: settles at spot rate at 10am NY time on specified Friday [10]
AUD/USD Mar, Jun, Sep, Dec Quarterly: third Wed. of the contract month, at 10am NY time
Weekly: settles at spot rate at 10am NY time on specified Friday [10]
GBP/JPY Mar, Jun, Sep, Dec Quarterly: third Wed. of the contract month, at 10am NY time
Weekly: settles at spot rate at 10am NY time on specified Friday [10]
EUR/JPY Mar, Jun, Sep, Dec Quarterly: third Wed. of the contract month, at 10am NY time
Weekly: settles at spot rate at 10am NY time on specified Friday [10]
EUR/GBP Mar, Jun, Sep, Dec Quarterly: third Wed. of the contract month, at 10am NY time
Weekly: settles at spot rate at 10am NY time on specified Friday [10]

Options futures

Stock Indices

Options market Contract months Last dealing day
FTSE® 100 Futures Next three quarterly plus nearest two non-quarterly months Third Friday or previous business day of contract month
FTSE® 100 Weekly Futures Weekly From 08.00 Monday to 1630 Friday (London time)
Wall Street Futures Next two quarterly plus nearest two non-quarterly months Third Friday or previous business day of contract month
Wall Street Weekly Futures Weekly From 14.30 on Monday to 21.00 on Friday (London time)
US 500 Futures Next two quarterly plus nearest two non-quarterly months Third Friday or previous business day of contract month
US 500 weekly Futures Weekly From 14.30 on Monday to 21.00 on Friday (London time).
US Tech 100 Futures All liquid months Third Friday or previous business day of contract month [g]
Germany 30 Futures Next two quarterly plus nearest two non-quarterly months Third Friday or previous business day of contract month
Germany 30 weekly Futures Weekly From 08.00 on Monday to 16.30 on Friday (London time)
Australia 200 Futures Front quarter only Third Thursday or previous business day of contract month
EU Stocks 50 Futures Next two months Third Friday or previous business day of contract month
France 40 Futures Next two months Third Friday of contract month
Netherlands 25 Futures Next three months Third Friday of contract month
Netherlands 25 Weekly Futures Weekly From 08.05 on Monday to 16.25 on Friday (London time)

Commodities

Options market Contract months Last dealing day
Gold Feb, Apr, Jun, Aug, Oct, Dec Fourth bus. day prior to contract month (if Friday or prior to Exchange holiday then previous bus. day) [4]
Silver Mar, May, Jul, Sep, Dec Fourth bus. day prior to contract month (if Friday or prior to Exchange holiday then previous bus. day) [4]
Copper, High-Grade Mar, May, Jul, Sep, Dec Fourth bus. day prior to contract month (if Friday or prior to Exchange holiday then previous bus. day) [4]
Oil – US Crude Any month 17th of prev. month (if Fri. then previous bus. day) [4]
Sugar No. 11 World Mar, May, Jul, Oct 15th of prev. month (or previous bus. day) [4]
Wheat (US) Mar, May, Jul, Sep, Dec Last Fri. or prev. bus. day of contract month [4]
Corn Mar, May, Jul, Sep, Dec Second Fri. or prev. bus. day of prev. month [4]
Coffee Arabica (New York) Mar, May, Jul, Sep, Dec Second Fri. or prev. bus. day of prev. month [4]
Cocoa (New York) Mar, May, Jul, Sep, Dec First Fri. or prev. bus. day of prev. month [4]
Soyabeans Jan, Mar, May, Jul, Aug, Sep Fourth Fri or prev. bus. day of contract month [4]

Interest Rates

Options market Contract months Last dealing day
Eurodollar All liquid months Second London bus. day before third Wed. of contract month [4]
Sterling Deposit (3 month) All liquid months Third Wed. of contract month at 10.00 (London time) [4]
German Bund All liquid months Last bus. day of prev. month [4]
Euribor (3 month) All liquid months Two bus. days prior to 3rd Wed of contract month at 11.00 (London time) [4]

Notes to tables

Notes to tables

1. Bets not already closed by the client expire automatically at the date/time indicated. No spread is charged on automatic closings.

2. Our quotes are an ‘all-in’ spread on all options which includes both our spread and the market spread. This applies to both opening and closing transactions. The size of the spread depends on a range of factors including the level of the option premium, the time to expiry and the liquidity of the underlying market.

3. Spreads are subject to variation, especially in volatile market conditions.

4. Commodity and interest rate options settle based on exchange-delivered prices and therefore expiry times are determined by exchange rules. The listed expiry rules may be subject to variation.

5. 24-hour dealing is available on monthly FTSE®, Germany, 30, Wall Street and US 500 options. This runs from 08.05 on Monday until 21.15 on Friday (London time) with the exception of Wall Street and US 500 options which are offered from 0830 hrs London time. Weekly Wall Street options settle basis the official close of the DJIA on Friday evening. Weekly US 500 options will be settled basis the cash close of the S&P 500 as reported by CME at 15.00 (Chicago time). Weekly Germany 30 options settle basis the official close of the DAX cash index on Friday afternoon. Weekly FTSE options settle basis the official close of the FTSE cash index every Friday afternoon. Daily options are available 24 hours on major forex pairs, FTSE® 100, Germany 30, Wall Street and US 500, beginning within an hour of the market close. Quoting may be suspended on public holidays.

6. The margin for ‘buying’ an option is the opening price (or premium) multiplied by the size of the bet. This is the maximum amount that the bet can lose. The margin for ‘selling’ an option is the same as the margin incurred when trading the underlying futures market.

7. Bets on quarterly US Tech 100 options are only available for dealing over the phone. They can be dealt until the close of the business day before the third Friday. Bets on non-quarter month US Tech 100 options can be dealt until close of business on the third Friday, and settle against the current quarter month’s price.

8. Daily FTSE® 100, Wall Street, Germany 30, France 40, Spain 35, Netherlands 25 and Sweden 30 options are settled against the official settlement levels of the cash FTSE 100, cash DJIA, cash DAX 30, cash CAC 40, cash Ibex 35, cash AEX and cash OMXS30 index markets respectively. Daily options on forex are settled basis the first print recorded by Bloomberg (E&OE) at 20:00 (London time).

9. Weekly forex options expire based upon the first print on Bloomberg (E&OE) of the spot rate concerned at 10.00 New York time (normally 15.00 London time) on the Friday specified (or previous business day in the case of US public holidays).

10. Weekly and quarterly forex options are available for online dealing. Unlisted expiries up to 12 months are available on request.

11. For all daily and weekly options, bets will be accepted from one hour after the previous day’s settlement until one minute before expiry.

12. Bets on US 500 and Wall Street options can be dealt until the close of business on the Thursday before the third Friday. They expire based upon the Special Opening Quotation of the S&P 500 Index on the 3rd Friday of the contract month.

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