Tokyo Stock Exchange Position Limits

Neither a trading participant (for its own account) nor a customer may hold an aggregate position in contract units on an Equity Option in excess of such number of contracts units having shares of underlying stock equal to following amounts of combining short positions in put options with long positions in call options of the same underlying stock or combining long positions in put options with short positions in call options of the same underlying stock.

1. 1% or more of the number of all listed shares of the underlying stock

2. 0.7% or more of the number of all listed shares of the underlying stock if the purchase and sales rate (annual trading volume / number of listed shares) of the underlying stock is less than 10%

Such positions that have the limited risks by combining with other positions of the same underlying stock and the same underlying stock itself or related securities shall be exempted from the position limits.

View the position limits of Equity Options.