Expiry Rate Rules
All rates are calculated based on the last known rates provided by Reuters.
UltraTrade offers a variety of asset classes for its clients: Stocks, Currencies, Commodities and leading Indices.
If you wish to trade an asset which is not offered on our platform, please feel free to contact us by phone or via [email protected] and we will do our best to add the requested asset.
The following expiry rules apply to all assets (according to asset class):
Currencies: (Bid + Ask)/2
Stocks: (Bid + Ask)/2.
Commodities: (Bid + Ask)/2
Indices, except S&P 500, S&P FUTURE, NIKKEI FUTURE, NASDAQ FUTURE: Last Quote.
S&P 500, S&P FUTURE, NIKKEI FUTURE, NASDAQ FUTURE: (Bid + Ask)/2
Relevant terms used to calculate expiration rate:
Bid - The last known price prior to the options expiration time for selling an asset quoted by Reuters.
Ask - The last known price prior to the options expiration time for buying an asset quoted by Reuters.
Last Quoted Price - The last known price prior to the options expiration time that was actually paid for the asset. (This price may be the same or different than the bid or the ask prices).
Indices such as the Dow Jones or the FTSE are calculated based on the last traded price of all the stocks listed in the Index and therefore, Reuters creates a last price for the Index. A participant in the market can only buy the stocks or Exchange Traded Funds (ETF) and not the actual Index.
Stocks and currencies have quotes of Bid and Ask. For instance, Citigroup and Google stocks there is a price for buying the asset and a price for selling the asset, therefore UltraTrade calculates the expiration price as the mid-price which equals to (Bid + Ask)/2.
For further information, including expiry rules regarding each specific asset traded on the platform, see Asset Index.
One Touch Options
One Touch Options have a set of expiration rates that each represent a single day within the time frame of the option.
The daily expiration rate of the One Touch option is calculated as the average closing rate at 17:00, 16:00 and 15:00.
If the asset is not traded during these hours, an average of the last three hours of the session is taken.
The methodology for calculating the asset price is to use (Bid + Ask)/2 or the last price according to each specific asset as described above.