The exercise price setting formula for a series of delayed start options is the formula used by the options market on which the series is traded to set the exercise price for the series on the exercise price setting date.
The exercise price setting formula is specified before the commencement of trading of each series of delayed start option.
The formula for a particular series may provide that the exercise price will be at the money, in the money by a specified amount, or out of the money by a specified amount. Exercise prices may be rounded as specified by the listing options market.
