The open positions limit for each underlying asset can be found in the open position limits by underlying asset table.
The limit only applies to the three trading days preceding the expiration date and only to options and futures with the closest expiration date.
Examples:
- Two days prior to the next expiration date, an investor holds an open interest of 150,000 in a series pending expiration date - violation of the open position limits.
- Two days prior to the next expiration date, an investor holds an open interest of 100,000 in a series pending expiration and 50,000 open interest in a series scheduled to expire on the following expiration date – not a violation of the open position limits
