{"id":45197,"date":"2023-03-23T16:04:04","date_gmt":"2023-03-23T15:04:04","guid":{"rendered":"https:\/\/staging.captrader.com\/glossar\/index-optionen\/"},"modified":"2024-03-27T15:15:08","modified_gmt":"2024-03-27T14:15:08","slug":"index-options","status":"publish","type":"glossar","link":"https:\/\/www.captrader.com\/en\/glossar\/index-optionen\/","title":{"rendered":"Index options"},"content":{"rendered":"

In addition to equities, ETFs and futures, equity indices are underlyings on which Options<\/a> can be bought or sold. Apart from a speculative use, investors often use Index options<\/strong>to hedge an entire stock portfolio. In this article you will learn what index options are and what special features they have.<\/p>\n\n\n\n

What is an index option?<\/h2>\n\n\n\n

The buyer of an index option acquires the right to \"buy\" a certain underlying index at a certain price (strike price) (Call option<\/a>) or to \"sell\" (Put option<\/a>). The option seller receives from the option buyer the Option premium<\/a> and in return undertakes to \"buy\" (put) or \"sell\" (call) the index if the option buyer exercises his right and exercises the option.<\/p>\n\n\n\n

Special features of index options<\/h2>\n\n\n\n

With regard to the rights and obligations of the option buyer and the option seller, there are no fundamental differences between index options and other options (e.g. stock options or futures options). However, there are some things to consider regarding multiplier, settlement method and exercise style.<\/p>\n\n\n\n

\"CapTrader_Index
Index options on the S&P 500 have a multiplier of 100, are settled in cash and the exercise style is European<\/figcaption><\/figure>\n\n\n\n

Multiplier<\/h3>\n\n\n\n

Index options have No uniform multiplier<\/strong>. However, the multiplier for the main American index options is all 100 USD. The multiplier for the DAX index is 5 EUR. The multiplier for the Euro Stoxx 50 index is 10 EUR.<\/p>\n\n\n\n

Settlement method<\/h3>\n\n\n\n

Since an index cannot be purchased physically, index options (in case of exercise of the option) will be bar<\/strong> settled\/settled. I.e. the difference between the base price and the current index score is multiplied by the multiplier and settled in cash.<\/p>\n\n\n\n

Exercise style<\/h3>\n\n\n\n

If in doubt, please also refer to the contract details of the respective index option for the exercise style. Most index options are subject to a European exercise style<\/strong>However, there are also exceptions, such as the S&P 100.<\/p>\n\n\n\n

Index Options vs Index Futures Options<\/h3>\n\n\n\n

In addition to index options, there are numerous index futures on which options can be traded. These usually differ from the index options in terms of settlement method, exercise style and multiplier. Therefore, it is advisable to take a look at the contract details before trading.<\/p>\n\n\n\n

FAQ - Frequently asked questions about index options<\/h2>","protected":false},"author":7,"featured_media":0,"template":"","class_list":["post-45197","glossar","type-glossar","status-publish","hentry"],"acf":{"blog_summary":"","blog_faq_schalter":"ja","faq_uberschrift":"","blog_faq_loop":[{"blog_faq_question":"Was sind Index-Optionen?","blog_faq_answer":"Eine Indexoption ist eine Kauf- oder Verkaufsoption, deren Underlying ein (Aktien-)index ist. Als H\u00e4ndler k\u00f6nnen Sie Indexoptionen sowohl kaufen als auch verkaufen. Indexoptionen k\u00f6nnen zur Absicherung eines Aktienportfolios oder zu spekulativen Zwecken eingesetzt werden."},{"blog_faq_question":"Was sind Aktienoptionen?","blog_faq_answer":"Eine Aktienoption ist eine Kauf- oder Verkaufsoption, deren Underlying eine Aktie ist. Dabei bezieht sich eine\u00a0Option\u00a0in der Regel auf eine St\u00fcckzahl von 100 Aktien. Aktienoptionen k\u00f6nnen sowohl gekauft als auch verkauft werden."},{"blog_faq_question":"Was sind Futures-Optionen?","blog_faq_answer":"Futures-Optionen sind Kauf- oder Verkaufsoption, deren Underlying ein Futures-Kontrakt ist. Futures-Optionen werden h\u00e4ufig von spekulativ orientierten Tradern genutzt und k\u00f6nnen in Kombination mit\u00a0Futures\u00a0oder weiteren Optionskontrakten eingesetzt werden."},{"blog_faq_question":"Was sind Optionen?","blog_faq_answer":"Optionen\u00a0sind Terminkontrakte, genauer gesagt bedingte Terminkontrakte. Das bedeutet, nur ein Kontrahent hat eine Erf\u00fcllungspflicht, w\u00e4hrend der andere ein Wahlrecht besitzt. Es gibt Kauf-Optionen \u2013 sog.\u00a0Call-Optionen\u00a0(kurz: Calls) \u2013 sowie Verkaufsoptionen \u2013 sog.\u00a0Put-Optionen\u00a0(kurz: Puts)."},{"blog_faq_question":"Wo werden Optionen gehandelt?","blog_faq_answer":"Optionen\u00a0sind standardisierte Terminkontrakte und werden an Terminb\u00f6rsen und Optionsb\u00f6rsen gehandelt. Dabei unterliegen sie der Aufsicht der jeweilig zust\u00e4ndigen Beh\u00f6rden (B\u00f6rsenaufsicht). Der Handel ist somit transparent und die Erf\u00fcllung von Rechten und Pflichten der H\u00e4ndler ist garantiert."}]},"_links":{"self":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/glossar\/45197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/glossar"}],"about":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/types\/glossar"}],"author":[{"embeddable":true,"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/users\/7"}],"wp:attachment":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/media?parent=45197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}