Characteristics and Risks
of Standardized Options
Options involve risk and are not suitable for all investors.
Online trading has inherent risks due to system response and access times that vary due to market conditions, system performance and other factors such as your Internet provider. An investor should understand these and additional risks before trading.
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Option Contracts
- Characteristics and Risks of Standardized Options
This publication refers solely to options issued by OCC. Prior to buying or selling an option, a person must receive a copy of this brochure. It includes a discussion on basic option terminology, types of options available for trading, general provisions for exercise and settlement, unique tax considerations, risks, and other supplemental material. - March 2005 Supplement to Characteristics and Risks of Standardized Options
This supplement amends the Characteristics and Risks of Standardized Options document to accommodate options on any index intended to measure the predicted volatility of the daily returns of a stock index. - January 2004 Supplement to Characteristics and Risks of Standardized Options
This supplement supersedes and replaces the November 1995 Supplement to, and amends specified portions of, Characteristics and Risks of Standardized Options (the "Booklet"). - April 2007 Supplement to Characteristics and Risks of Standardized Options
This supplement supersedes and replaces the January 2007 supplement to the ODD, which relates to U.S. dollar-denominated foreign currency options. - May 2007 Supplement to Characteristics and Risks of Standardized Options
This supplement amends the Characteristics and Risks of Standardized Options document to accommodate changes to definitions of ordinary cash divident or distribution, adjustments of exercise prices, and broadening of the definition of "fund shares." - June 2007 Supplement to Characteristics and Risks of Standardized Options
This supplement amends the Characteristics and Risks of Standardized Options document to provide additional disclosures relating to the purchase and sale of, and adjustments made to, credit default options (including credit default basket options).
System response and access times may vary due to market conditions, system performance, and other factors. Options involve risk and are not suitable for all investors. Please read