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Weekly Hang Seng China Enterprises Index Options

WEEKLY INDEX OPTIONS (Commence Trading on 16 September 2019)

To supplement the existing monthly index options, introduction of the weekly index options contracts on HSI and HSCEI aims to provide risk management tools for investors to manage their short term risks on the exposure of HSI and HSCEI positions.

Weekly index options are similar to the monthly index options except that they expire on the last business day of every week instead of the second last business day of the month.

FEATURES OF WEEKLY INDEX OPTIONS

With a shorter maturity, weekly index options contracts would have a much lower option premium and faster time decay comparing to the monthly index options contracts, thus allowing short term trading and more attractive short options strategies.

Investors can now target a specific time period to decay their short term trading strategies using weekly index options.

USAGES OF WEEKLY INDEX OPTIONS

Weekly index options are useful for investors in the following ways:

  • Cost effective: trading or hedging against short term market events with relatively low option premium.

  • Yield enhancement: employing short options strategies to capture option premium by taking advantage of the rapid time decay of its premium.

  • Option risk management: managing the risks of options portfolio (delta, gamma and vega, etc) more effectively.

Weekly index options can also be used for options trading strategies such as covered Calls, call/put spreads, straddles etc. at a relatively low cost.


Updated 13 Sep 2019


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Contract Summary

 

Item Contract Terms
Underlying Index HSCEI
Trading Symbol

“HHI” + Strike + Month + Year + “W” + Expiry Day
e.g. HHI10400A9W25

Where:
-“HHI” means underlying code;
-“10400” means strike price;
-“A” means Jan - contract month;
-“9” means year 2019 contract;
-“W25” means weekly product with 25th of the month as expiry

Contract Multiplier HK$50 per Index point
Strike Prices Index points                                              Intervals
Below 5,000:                                                     50
At or above 5,000 but below 20,000:              100

At or above 20,000                                         200
 Contract Weeks Spot Week and the next week, except where the Expiry Day of the Weekly Contract is the same as the Expiry Day of the Spot Month HSCEI Option Contract
 

Trading Hours
(Hong Kong time)

T Session

9:15 am - 12:00 noon (morning trading session)
1:00 pm - 4:30 pm (afternoon trading session)
(Expiring contract closes at 4:00 pm on the Expiry Day)

T+1 Session

5:15 pm – 3:00 am (after-hours trading session)

 
 Expiry Day The last Business Day of the Contract Week
Final Settlement Price Average of the index values taken at 5 minute interval on the Expiry Day
 Transaction Costs

Exchange Fee         HK$3.5

Commission Levy*  HK$0.54

Commission Rate   Negotiable

*The Commission Levy will be exempted for the first six months of trading from 16 September 2019 to 13 March 2020, both dates inclusive, excluding the T+1 Session on 13 March 2020. 


Updated 29 Aug 2019

Trading fee and commission

Weekly HSCEI Options
Exchange Fee HK$3.5 Per contract per side
Commission Levy HK$0.54 per contract per side
Investor Compensation Levy* HK$0.00 per contract per side
 Total  HK$10.54 per contract per side
 Commission  Negotiable

* The amount indicated above is subject to change from time to time

Updated 22 Aug 2019

information vendor access codes

Information Vendor

Access Codes

Weekly HSI Options

Weekly HSCEI Options

AASTOCKS.com Limited

322105

322125

 Bloomberg Finance L.P.  HSI Index OMON  HSCEI Index OMON

DB Power Online Ltd

HSI

HHI

ET Net Limited

Menu "Futures/Options" >

"Futures/Options Quotation (Short-term)"

Access code: The series name

Menu "Futures/Options" >

"Futures/Options Quotation (Short-term)"

Access code: The series name

Infocast Limited

HSI

HHI

MegaHub Limited

HSI

HHI

N2N-AFE

873101

873121

Refinitiv

<0#HSIW*.HF>

<0#HCEIW*.HF>

Tele-Trend Ltd

File->Open->Options->HSI

File->Open->Options->HHI


Updated 29 Aug 2019

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