| Contract Overview: | A precious metals option contract represents an option to assume a short or long position in the underlying precious metals contract at the strike price. |
| Reference Commodities: | Gold Silver Palladium Platinum |
| Contracts on Reference Commodities: | NYMEX Palladium NYMEX Platinum COMEX Gold COMEX Silver ICE Gasoil (Monthly) |
| Trade Date: | The date on which the parties enter into the options contract. |
| Option Style: | European Style: A European style option allows the holder to exercise only at the expiration date, i.e. a single pre-defined point in time.
American Style: An American style option allows the owner to exercise the option at any time before the expiration date. |
| Call Currency: | Currency for call option. |
| Put Currency: | Currency for put option. |
| Strike Price: | The price at which an investor can exercise an option. |
| Expiration Date: | The date on which the option contract expires. |
| Expiration Time: | The time at which the option contract expires. |
| Settlement Date: | The date on which the option settles.. |
| Settlement Type: | Cash Settlement |
| Premium: | Premium amount expressed in the premium currency. |
| Premium Currency: | Currency in which the option premium is expressed. |
| Premium Date: | The date on which the premium amount is due. |
| Quoting Convention & Min Increment: | Notional amount, agreed by the counterparties. |
| Minimum Size: | Notional amount, agreed by the counterparties. |
| Notional Currency: | Currency in which the contract size is expressed. |
Precious Metals Options
The terms and conditions of the Precious Metals Options incorporate by reference such credit and other terms as the parties may establish through their pre-existing bilateral agreement. The Precious Metals Options have the following characteristics:
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