Template:Nutshell Equity Derivatives 2.1
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2.1. Certain Definitions and Provisions Relating to Option Transactions. The following terms apply to Option Transactions:
- 2.1(a) “Commencement Date” means, for an American Option Transaction, the date so specified in the Confirmation (or the next following Scheduled Trading Day, if it is not a Scheduled Trading Day) or if no such date is specified, the Trade Date.
- 2.1(b) “Number of Options” must be specified in the Confirmation.
- 2.1(c) “Option Entitlement” means the number of Shares, or Baskets, per Option specified in the Confirmation or, if none is specified, one Share or Basket per Option.
- 2.1(d) “Option” means each unit into which an Option Transaction is divided for purposes of exercise, valuation or settlement.
- 2.1(e) “Strike Price” means:
- (i) for an Index Option Transaction, the level of the Index specified in the Confirmation;
- (ii) for a Share Option Transaction, the price per Share specified in the Confirmation;
- (iii) for an Index Basket Option Transaction, the amount per Basket specified in the Confirmation; and
- (iv) for a Share Basket Option Transaction, the amount per Basket specified in the Confirmation.
- (i) for an Index Option Transaction, the level of the Index specified in the Confirmation;