FTSE MIB index options (MIBO)




FTSE MIB index

Trading hours

9.00am - 6.00pm CET

Options style



Cash settled


Index points

Tick size (in index points)

Option premium

On-book trading

Orders to execute Negotiated Transactions

1 - 99



100 - 498



>= 500



Multiplier (value of 1 index point)

€ 2.5

Contract size

Strike price x Multiplier

Option price (premium)

Option premium x Multiplier

Premium settlement

Settled in cash and paid on the CC&G open day following the trading day

Strike prices generation

  • Up to 12 months: 15 strike prices with intervals of 250 index points for the nearest expiry and 500 index points for the following expiries
  • Beyond 12 months: 21 strike prices with intervals of 1000 index points

Contract months

Up to 7 years: i) the 2 nearest monthly expiries, ii) the 4 nearest quarterly expiries of the Mar/Jun/Sep/Dec cycle, iii) the successive 4 semi-annual expiries (Jun-Dec cycle) and iv) the successive 4 annual expiries (Dec cycle)

Expiry day

The third Friday of the expiry month at 9.05am CET. If the Exchange is closed that day, the contract expires on the first trading day proceeding that day

Last trading day

Expiry day, until 9.05am CET

Exercise at expiry day

Automatic exercise executed by CC&G on ITM options

Daily settlement price

Defined by Cassa di Compensazione e Garanzia (CC&G) according to the procedures and time limits established in the rules

Settlement day

The first open CC&G calendar day following the expiry day

Final settlement price

The value of the FTSE MIB index, calculated using the opening auction prices of each constituent on the last trading day. If the opening auction price of any constituent has not been established by the end of the last trading day, Borsa Italiana defines the constituent price on the basis of the prices recorded in the last trading session and taking into account any other relevant objective elements available



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