In Japan, Nikkei 225 Options, TOPIX Options, JPX-Nikkei Index 400 Options and others are listed on Osaka Exchange. The index itself is not delivered. When an option is exercised, it is settled by paying or receiving the difference between the strike price and the special quotation (SQ value).
Equity index option
- Japanese
- 株価指数オプション
- Last reviewed
- September 25, 2026
This is a draft, shown for review before publication.
An equity index option is an option whose underlying asset is an equity index, such as the Nikkei Stock Average or the Tokyo Stock Price Index (TOPIX). It trades the right to buy or sell the index at a set price.