Exchange

SSE

SZSE

CFFEX

Underlying

SSE 50 Exchange Traded Open-End Index Securities Investment Fund (50 ETF); Huatai-Pinebridge CSI 300 Exchange Traded Open-End Index Securities Investment Fund (CSI 300 ETF, 510300)

Harvest CSI 300 Exchange Traded Open-End Index Securities Investment Fund (CSI 300 ETF, 159919)

CSI300 Index

Contract Type

Call option and put option

Exercise Style

Exercised at the expiration date (European style)

Contract Size

10,000

100RMB per index point

Expiration Months

4, current month, next month and the following two consecutive quarters

6, current month, next 2 months and the following 3 consecutive quarters

Contract Delivery

Physical delivery (unless otherwise specified in rules)

Cash delivery

Strike Price Interval

RMB 0.05 for price below RMB 3 (inclusive), RMB 0.1 for price between RMB 3 and 5 (inclusive), RMB 0.25 for price between RMB 5 and 10 (inclusive), RMB 0.5 for price between RMB 10 and 20 (inclusive), RMB 1 for price between RMB 20 and 50 (inclusive)，RMB 2.5 for price between RMB 50 and 100 (inclusive)，RMB 5 for price above RMB 100

For contracts of the current month and next 2 months: when the exercise price is ≤ 2500, the exercise price interval is 25 points; when 2500 < the exercise price ≤ 5000, the exercise price interval is 50 points; when 5000 < the exercise price ≤ 10000, the exercise price interval is 100 points; when the exercise price is > 10000, the exercise price interval is 200 points

For contracts of the following three consecutive quarters: when the exercise price ≤ 2500, the exercise price interval is 50 points; when 2500 < the exercise price ≤ 5000, the exercise price interval is 100 points; when 5000 < the exercise price ≤ 10000, the exercise price interval is 200 points; when the exercise price > 10000, the exercise price interval is 400 points

Expiration Date

The fourth Wednesday of each expiration month (if the expiration date falls on a holiday, it will be put off correspondingly)

The 3rd Friday of each expiration month (if the expiration date falls on a holiday, it will be put off correspondingly)

Trading Hours

AM 9:15-9:25, 9:30-11:30 (the period between 9:15-9:25 is for opening call auction)

AM 9:30-11:30 (the period between 9:25-9:30 is for opening call auction)

PM 13:00-15:00 (the period between 14:57-15:00 is for closing call auction)

PM 13:00-15:00 (the period between 14:57-15:00 is for closing call auction)

Long/Short Types

Long Open, Short Open, Long Close, Short Close, Open Covered Call, Close Covered Call

Long Open, Short Open, Long Close, Short Close

Tick Size

RMB 0.0001

0.2 index point

Min order unit

1 lot

1 lot

Price Limit

Price up limit for call option=max {previous close price of underlying×0.5%, min [(2×previous close price of underlying - strike price), previous close price of underlying]×10%}

± 10% of closing price of CSI300 index on the previous trading day

Price down limit for call option=previous close price of underlying×10%

Price up limit for put option=max {strike price×0.5%, Min [(2×strike price – previous closing price of underlying), previous close price of underlying]×10%}

Price down limit for put option=previous close price of underlying×10%

Minimum Initial Margin

Initial margin for short call＝[previous settlement price + Max (12%×previous closing price of underlying –max(strike price– previous closing price of underlying, 0), 7%×previous close price of underlying)]×contract unit

Opening margin of each call option = (settlement price on the previous day of the contract × contract multiplier) + max (closing price on the previous day of the underlying index × contract multiplier × contract margin adjustment coefficient - call option virtual value, minimum guarantee coefficient× closing price on the previous day of the underlying index × contract multiplier × contract margin adjustment coefficient)
Opening margin of each put option = (settlement price on the previous day of the contract × contract multiplier) + max (closing price on the previous day of the underlying index × contract multiplier × contract margin adjustment coefficient - put option virtual value, minimum guarantee coefficient× contract exercise price × contract multiplier × contract margin adjustment coefficient)

Initial margin for short put＝Min[previous settlement price +Max(12%×previous closing price of underlying – Max(previous close price of underlying–strike price, 0), 7%×strike price), strike price]×contract unit

Minimum Maintenance Margin

Maintenance margin for short call＝[settlement price +Max(12%×closing price of underlying – max(strike price– previous close price of underlying, 0), 7%×close price of underlying)]×contract unit

Trading margin of each call option = (settlement price on the day of the contract × contract multiplier) + max (closing price on the day of the underlying index × contract multiplier × contract margin adjustment coefficient - call option virtual value, minimum guarantee coefficient ×closing price on the day of the underlying index × contract multiplier × contract margin adjustment coefficient
Trading margin of each put option = (settlement price on the day of the contract × contract multiplier) + max (closing price on the day of the underlying index × contract multiplier × contract margin adjustment coefficient - put option virtual value, minimum guarantee coefficient ×contract exercise price × contract multiplier × contract margin adjustment coefficient)

Maintenance margin for short put＝Min [settlement price +Max(12%×close price of underlying – max(previous close price of underlying–strike price, 0), 7%×strike price), strike price]×contract unit

Exercise Date

Same as the expiration date. Exercise orders are accepted between 9:15-9:25, 9:30-11:30, 13:00-15:30,will not exercise without orders

Same as the expiration date. Exercise orders are accepted between 9:15-11:30, 13:00-15:30. will not exercise without orders

(1) where the buyer submits the minimum profit amount at 9:30-15:15 for exercise, the conditions for exercise shall be that the actual value of the contract is greater than the greater of the minimum profit amount for exercise submitted by the buyer and the commission for exercise stipulated by the exchange;
(2) if the buyer fails to submit the minimum profit amount for exercise, the conditions for exercise shall be that the actual value of the contract is greater than the commission for exercise stipulated by the exchange. position that does not meet the exercise conditions as prescribed in the preceding paragraph shall be deemed as a waiver of exercise

Maximun order size

30 lots for limit price,10 lots for market price

50 lots for limit price,10 lots for market price

20 lots for limit price

Order Type

Limit order, market order immediate to limit, market order immediate or cancel, kill or fill limit order, kill or fill market order and other types of orders as specified by the SSE

Limit orders, full transaction or cancellation of price limit orders, market price orders of the best price of the counterparty side, market price orders of the best price of own side, the best five levels of real-time transaction then surplus cancellation of market price orders, real-time transaction then surplus cancellation of market price orders, full transaction or cancellation of market price orders and other entrustment orders.

Limit order; the limit order can be attached with FOK and FAK order.

Circuit Breaker

During the continuous auction period, if the percentage change of option price reaches or exceeds 50% of the latest reference price and the absolute value of price change reaches or exceeds 5 ticks, the option contract will enter a 3-minute call auction period

During the continuous auction period, if the percentage change of option price reaches or exceeds 50% of the latest reference price and the absolute value of price change reaches or exceeds 10 ticks, the option contract will enter a 3-minute call auction period

Not Specified