# Opening the right of a call option, Buy to Open

Z Part 3: Expiry Year The last two digits of the expiry year are used—such as 08 for the contract expiry year and 09 for a contract due to expire in The SET stops trading for 30 minutes.

The SET stops trading for one hour. After the second Circuit Breaker has kicked in and then one hour has elapsed, the SET reopens for trading until normal closing time without any further stops.

In cases where the remaining trading time of the session is less than 30 minutes or 1 hour when the Circuit Breaker engages, the SET will stop trading during that remaining time only. Opening and closing Positions When trading options for the first time, an investor must specify whether to buy open or to sell open the position.

Examples of the two actions are explained below: Buy-Open a Call Option After an investor buy-opens a call option, he can choose to close out the position before the contract expires by sell-closing the same series contract.

Examples follow: An investor buy-opens call options of the SET50 Index at a strike of index points expiring in Dec for two contracts with a premium of By that time, S50Z10C has a premium equal to Therefore the investor sends an order to sell-close S50Z10C for two contracts. The investor is entitled to: receipt of premium 2 x For example: An investor sell-opens put options of the SET50 Index at a strike of index points expiring in September for three contracts with a premium By that time, S50U11P has premium equal to 8.

Therefore the investor sends an order to Buy-close S50U11P for three contracts. This creates the following transactions for the Investor: payment for premium 3 x 8.