• Bist 100
  • Viop 30
  • Dolar
  • Euro

Derivatives Trading

Futures:

A futures contract is a standardized contract between two parties obligating them to buy or sell a predetermined quantity of a specified underlying asset of predetermined features at a predetermined price in a certain maturity.

  •  Single Stock Future Contracts
  •  FX Futures Contracts
  •  Equity İndex Contracts
  •  Currency Futures Contracts
  •  Precious Metals Future Contracts
  •  Commodity Future Contracts
  •  Foreign İndices Future Contracts
  •  Metal Future Contracts
  •  FBİST ETF Future Contracts
  •  Overnight Repo Rate Futures Contracts are traded on VİOP.

Derivative markets are invested for hedge, speculative or arbitrage purposes.

Hedging: Investors use future contracts for hedging purposes when there is ambiguity in the market.
Speculative: Investors use futures contracts for speculative purposes when they aim to maximize their gains amid price fluctuations.
Arbitrage: The simultaneous purchase and sale of an asset in order to profit from a difference in the price.

 

Options:

Options are capital markets instruments that give the holder the right, but not the obligation, to buy or to sell an underlying asset at a specified price on or before a predetermined date where such right is exercised by registered delivery or cash settlement. The holder of an option buys not the underlying security itself, but the right to buy or sell such underlying security, against the payment he makes.

There are two kinds of options;

  • - Call options
  • - Put options.

Call Options: A call option entitles the buyer to buy a certain quantity of a commodity, asset or financial indicator at a certain strike price on or before a certain maturity date. The buyer (seller) of a call option expects the underlying asset’s price to increase (decrease) in the future.

Put Options: A put option entitles the buyer to sell a certain quantity of a commodity, asset or financial indicator at a certain strike price on or before a certain maturity date. The buyer (seller) of a put option expects the underlying asset’s price to decrease (increase) in the future.
 

Basic Concepts for Option Contracts

Strike Price: Strike price is the buy or sell price of the commodity, asset or financial indicator subject to the contract, as of the future date determined by the parties.

Option Premium: Option premium is the fee paid in return for the right to buy or sell.

Long Party: Long party is the buyer of the option contract. In organized option markets, the long party is not exposed to any risks since his obligation is limited to paying the premium.

Short Party: Short party is seller of the option contract. In organized option markets, the short party is exposed to risk since he is under obligation to buy or sell on or before the maturity date, and is therefore required to deposit collateral
 

Factors Influencing Option Price

 

 

Call Option’s Value (American)

Put Option’s Value (American)

Call Option’s Value
(European)

Put Option’s Value
(European)

Underlying Asset’s Price 

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Strike Price 

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Days to Maturity 

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Volatility 

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Market İnterest Rate 

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Dividend

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Option Contracts listed at VIOP:

  • Single Stock Option Contracts
  • Equity Index Option Contracts
  • USDTRY Option Contracts

 

DERIVATIVES MARKET (VIOP) TRADING HOURS

Market

Normal Session Hours

Equity Derivative Market

09:30-18:10

Other Markets

09:30-18:15