The document discusses the exercise and settlement of cash-settled index options, highlighting the risks and timing considerations involved. It explains that exercise cut-off times for index options may be earlier than for other options and may occur before definitive settlement values are determined. The document also notes that current index levels may not reflect the most recent prices of constituent securities, which can affect the exercise settlement value.
doj/DataSet10/EFTA01393136.pdf
{"document_type":"other","reference_numbers":["EFTA01393136","SDNY_GM_00244746"]}