Contract Summary 

Hang Seng Index Options


Standard Options    

Flexible Options

Underlying Index                       

 Hang Seng Index




Contract Multiplier 

HK$50 per index point

Minimum Fluctuation 

One index point

Contract Months


Short-dated Options:- Spot, next three calendar months & next three calendar quarter months

Long-dated Options:- the next five months of June & December

Any calendar month not further out than the longest term of expiry months that are available for trading

Exercise Style

European Style

Option Premium

Quoted in whole index points

Strike Prices

 Short-dated Options:-  
 Index points


 Below 2,000


 At or above 2,000 but below 8,000


 At or above 8,000


 Long-dated Options:-  
 Index points  Intervals
 Below 4,000


 At or above 4,000 but below 8,000


 At or above 8,000 but below 12,000


 At or above 12,000 but below 15,000


 At or above 15,000 but below 19,000


 At or above 19,000



Within +/-30% from the opening price of the spot month futures contract on the day of request, or the range of the prevailing highest and lowest strike prices available amongst the contract month requested to be created, and all other existing contract months with longer expiry terms on the day of request, whichever range is the largest


Trading Hours 

9:15 am - 12:00 noon & 1:00 pm - 4:30 pm

(Expiring contract month closes at 4:00 pm on the Expiry Day)

For Flexible Index Options, no request of series creation is acceptable within the last 30 minutes before market close

Expiry Day 

The Business Day immediately preceding the last Business Day of the Contract Month

Official Settlement Price

The average of quotations of Hang Seng Index taken at (i) five (5) minute intervals from five (5) minutes after the start of, and up to five (5) minutes before the end of, the Continuous Trading Session of SEHK; and (ii) the close of trading on SEHK on the Expiry Day

Transaction Costs


Exchange Fee                  HK$10.00
Commission Levy           HK$0.54
Commission Rate             Negotiable

Please visit “Rules, Regulations and Procedures of the Futures Exchange” of “Trading Rules” under “Rules and Regulations” of the HKEx website for full contract specifications.