Okla. Stat. tit. 60, § 60-175.414: Derivatives and options

DERIVATIVES AND OPTIONS

A. In this section, "derivative" means a contract or financial

instrument or a combination of contracts and financial instruments

which gives a trust the right or obligation to participate in some

or all changes in the price of a tangible or intangible asset or

group of assets, or changes in a rate, an index of prices or rates,

or other market indicator for an asset or a group of assets.

B. To the extent that a trustee accounts for transactions in

derivatives pursuant to this section, the trustee shall allocate to

principal receipts from and disbursements made in connection with

those transactions.

C. If a trustee grants an option to buy property from the

trust, whether or not the trust owns the property when the option is

granted, grants an option that permits another person to sell

property to the trust, or acquires an option to buy property for the

trust or an option to sell an asset owned by the trust, and the

trustee or other owner of the asset is required to deliver the asset

if the option is exercised, an amount received for granting the

option must be allocated to principal. An amount paid to acquire

the option must be paid from principal. A gain or loss realized

upon the exercise of an option, including an option granted to a

settlor of the trust for services rendered, must be allocated to

principal.