Series 7 - General Securities Representative Exam
Which of the following options contracts are cash settled?
SPY - SPDR S&P 500 ETF OptionsA
SPX - S&P 500 Index OptionsB
GLD - SPDR Gold Shares ETF OptionsC
XLE - Energy Select SPDR ETF OptionsD
Index options are cash settled. ETFs require the underlying shares of the ETF to be delivered upon exercise / assignment. Just know index options are cash settled for the exam