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Value Line Contract Symbols/Trading Hours
| Contract Name | Value Line® Stock Index Futures | Value Line® Stock Index Options |
| Ticker Symbol(s) | Open Outcry: n/a Electronic: MV |
OMV (Put/Call Codes "P", "C") |
| Unit of Trading | One contract ($25 x futures price) |
One KCBT Value Line Index futures contract |
Delivery Standards/ |
Cash Settled | American style with automatic exercise at the expiration |
| Clearing House Code | MV | MC or MP |
| Contract Month Cycle | March, June, September, December | Serial |
| Minimum Price Fluctuation (Tick Value) | 0.50 point ($12.50 per contract) | 0.50 point ($12.50 per contract) |
| Price & Strike Price Formats | Points and .50 points |
Points and .50 points |
| Strike Increments | n/a | 5.00 (e.g. 395.00, 400.00, etc.) |
| Levels of Strike Price Increments (+/- the previous day's settlement price (at the money strike)) | n/a | 24 (24 above and 24 below ATM) |
| Underlying Futures Contract | n/a | MV |
| Exercise Style | n/a | American |
| Trading Hours, Schedule | Open Outcry: n/a Electronic: 5:00 p.m. to 3:15 p.m. Sunday through Friday and 3:30 p.m. to 4:30 p.m. Monday through Thursday
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Open Outcry: n/a Electronic: 5:00 p.m. to 3:15 p.m. Sunday through Friday and 3:30 p.m. to 4:30 p.m. Monday through Thursday
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| Last Trading Day | The Thursday preceding the third Friday of the month | For options that expire in the quarterly cycle, the last trading day is the same as the underlying futures contract. For options that expire in other months, the last trading day is the third Friday of the contract month. |
| Expiration Time on Last Trading | 3:15 p.m. | 4:00 p.m. |
| Daily Price Limits | VL Limits |
VL Limits |
| Position Limits | 5,000 in all months combined | 5,000 in all months combined |
| Daily Settlement Procedures | Weighted average of the last 30 seconds of trading | AQS implied fair value after close of market with settlement disseminated via electronic ticker. |
| Final Settlement Procedures | Based on special "Final Settlement Price:" calculation performed the business day following the last trading day based upon the opening value of all stocks in the index | Based on special "Final Settlement Price:" calculation performed the business day following the last trading day based upon the opening value of all stocks in the index |
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