4.3.1 Types of Option Contracts
Option Contracts may be:
4.3.2 Cash Settled Call Option Contract
In the case of a cash settled call Option Contract:
4.3.3 Cash Settled Put Option Contract
In the case of a cash settled put Option Contract:
4.3.4 Deliverable Call Option Contract
In the case of a deliverable call Option Contract:
4.3.5 Deliverable Put Option Contract
In the case of a deliverable put Option Contract:
4.3.6 American Style and European Style
The Contract Specifications shall indicate whether an Option Contract is an American Style Option or a European Style Option. An "American Style Option" is an Option Contract that can be exercised at any time before its expiry. A "European Style Option" is an Option Contract that can only be exercised at expiry. This Rules applies to both American Style Options and European Style Options.
4.3.7 Cash Settled Option Contracts which are in-the-Money
A cash settled Option Contract is in-the-money if the settlement price lies above the exercise price in the case of a call Option Contract, or below the exercise price in the case of a put Option Contract.
4.3.8 Exercise/Expiry of All Option Contracts on Expiration Day
On the Expiration Day of both cash settled and deliverable Option Contracts, the Clearing House shall, unless otherwise directed by the holder of the Option Contract or otherwise stated in the relevant Contract Specifications:
Amended on 16 July 201216 July 2012.