Are DJX options European or American-style?
DJX options are European-style. This means they can be exercised only on expiration. DJX options, available in up to 3 near-term months plus up to 3 months on quarterly cycle, expire on a monthly basis. The expiration date is the Saturday following the third Friday of the expiration month. The settlement value is calculated based on the opening prices of the component securities in the index on the business day prior to expiration. This value is calculated by Dow Jones & Company, Inc. DJX options are cash-settled. This means that cash is delivered at settlement, not securities.
