jurisprudence, legal and supervision study of options contracts in iran's financial markets

a unique arrangement of option contract -commitment to sell or buy by one of the parties and create some rights for the other party- has led this arrangement cannot be found similarly in the various contracts mentioned in the civil or sharia law. on the other hand approval of securities market act of the islamic republic of iran has provided legal environment for the design and issuance of option contract. the present study based on grounded theory focus on two specific subjects: (1) given the numerous objection and suspicion posed against option contract, jurisprudential nature of options will explain and a framework for analysis of the accuracy or validity of different types of options contracts will be presented. (2) legal infrastructure and paradigm of options studied and explained the appropriate framework of supervision and regulation of implementation of option contracts in iran's financial markets will be presented.