Equity option with standardized terms
Equity option with standardized terms means an equity option
(1) That is traded on a national securities exchange registered with the Securities and Exchange Commission;
(2) That, on the date the option is written, expires on the Saturday following the third Friday of the month of expiration;
(3) That has a strike price that is set at a uniform minimum strike price interval, that is established by the applicable national securities exchange registered with the Securities and Exchange Commission, and that is not less than $1.00; and
(4) That has stock in a single corporation as its underlying security.