An Option gives the right but not the obligation to the option owner to buy or sell an underlying asset at a specific price and time in the future. There are two basic types of Options contracts:

• A call option   is an option contract that gives the owner of the option, the right, but not the obligation, to buy the underlying asset on a specific date and at a specific price.
• A put option is an option contract that gives the option owner the right, but not the obligation, to sell the underlying asset on a specific date and at a specific price.
  DGCX offers a standardised US Dollar denominated Option contract on Gold Futures.

  Options on Gold Futures

  Dubai has a longstanding history and an established trade in precious metals. The exchange launched its trading operations in 2005 with the DGCX Gold Futures contract and this was followed by a Gold Options contract in 2007.
  
  The Gold Options contract is American style and therefore can be exercised at any time up to expiration. The Gold Option contract is based on one DGCX Gold Futures contract.