Current location - Trademark Inquiry Complete Network - Futures platform - Is the exercise price of futures options the settlement price or the closing price?
Is the exercise price of futures options the settlement price or the closing price?

Neither. The futures settlement price refers to the weighted average price of all transaction prices of a certain futures contract on that day based on the total trading volume. The futures closing price refers to the transaction price of the last contract at the end of the futures trading time, while the futures option exercise price refers to the price between the buyer and seller. It is agreed in options trading that the buyer has the right to buy or sell a certain number of related futures contracts at an agreed price on a specific date in the future. Therefore, the exercise price of futures options is neither the settlement price nor the closing price.