Kiwoom Securities announced on the 11th that it will launch a 'daily expiration option (zero-day option)' product based on the Standard & Poor's (S&P) 500 Index and will hold an event to reduce transaction fees to $1 per contract. The event will run until October 31.
The daily expiration option is a short-term option that expires daily from Monday to Friday, allowing new entries even on the day of expiration, with cash settlement options letting trades continue until the market closes on expiration day without the need for opposing transactions. This feature can be utilized by investors looking to respond to major economic indicators and events announced before and after the U.S. stock market opens.
Customers who apply for real-time quotes for the daily expiration option will also receive a benefit of free quotation fees for a total of three months, including the month of application. If they conduct one or more transactions of the daily expiration option during the free period, the free period will be automatically extended by one month. Additionally, there are plans to give gift certificates worth 50,000 won to a total of 300 people through a lottery for first-time customers of the daily expiration option.
To trade the daily expiration option, a Kiwoom Securities overseas futures options account is required. It can be opened non-face-to-face through Kiwoom Securities' mobile trading system (MTS) Hero Moon S#.
More details about the event can be found on the Kiwoom Securities website or by inquiring through the Kiwoom Financial Center.