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Options price basis versus underlying price



I wanted to understand where the price which an option is based on is derived from.

Example:  The Japan 225 cash may be at 29000

But the Daily Options are based on a value  29040

Then say  at expiry, if the CFD Japan 225 closes at 29000, the 29000 Call should be zero or very close. But it settled at 30 ITM.

So the question what is the settlement basis of Daily options for Indices such as the Japan 225?

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Check out the "info" section:


Settled basis the official settlement of the Nikkei 225. In the event that the underlying market unexpectedly ceases trading early, options will settle basis the last tick reported by Bloomberg on the day. If the underlying market does not trade on the day, trades will be void.


The price at settlement for a long call will me max(Close-Strike,0)

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