SIE - Securities Industry Essentials Exam
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When in-the-money S&P 500 Index options expire (symbol SPX), delivery is via which of the following upon settlement?
Underlying stocks in the S&P 500
A
E mini S&P 500 futures contract
B
Cash
C
SPY - S&P 500 ETF
D
Explanations
SPX Index Options have European settlement and are settled in cash.