Options
Technique
Fingers are arched to form the letter "C."
Origin
"C" for call. CME version.
Call Option (CME)
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Fingers are arched to form the letter "C."
"C" for call. CME version.
Thumb and index finger are extended to form the letter "C."
"C" for call. LIFFE version.
Thumb and index finger are formed into a circle with other fingers extended upward.
Hard forms upside-down "P." CME version.
Thumb is pointed downward.
Hand forms "P." CBOT and LIFFE version.
Thumb and pinky finger are extended upward from fist.
Fingers represent option strategy payout diagram. CME version.
Index and middle fingers are formed into a downward letter "V."
Fingers represent option strategy payout diagram. LIFFE version.
Hand holds throat between thumb and index finger.
Strangling throat. CME version.
Index finger and thumb are extended and held to side of head.
Shooting yourself in the head is stupid. CME version.
Hand is formed into the letter "O" and moved outward.
Tunnel. LIFFE version.
Fist is extended, then moved backward.
Moving gearshift into reverse. SIMEX version.
Hands are formed into two letters "C" that point in opposite directions.
Opposite facing letters represent spread. MATIF version.
Hands are joined at thumbs and fingers are fluttered.
Butterfly wings. MATIF version.
Hand is held with palm downward while fingers move side-to-side and downward.
Hand flies like a butterfly. MATIF version.
Functions
Many different functional hand signals were developed to facilitate new contracts, the options markets and to be more specific in order execution. Generally, such functional signals were highly localized and their use confined to one exchange or even one pit.