for an option of cash settlement shall not be treated as requiring physical delivery of real property unless the option is— (I) not exercisable unconditionally, and (II) exercisable only in unusual and exceptional circumstances. (ii) Option of cash settlement For purposes of clause (i), a contract provides an option of cash settlement if the contract settles in (or could be settled in) cash or property other than the underlying real property. (2) Securities lending, sale-repurchase, and similar financing transactions To the extent provided by the Secretary, for purposes of this subchapter, the term derivative shall not include the right to the return of the same or substantially identical securities transferred in a securities lending transaction, sale-repurchase transaction, or similar financing transaction. (3) Options received in connection with the performance of services For purposes of this subchapter, the term derivative shall not include any option described in section 83(e)(3) received in connection with the performance of services. (4) Insurance contracts, annuities, and endowments For purposes of this subchapter, the term derivative shall not include any insurance, annuity, or endowment contract issued by an insurance company to which subchapter L applies (or issued by any foreign corporation to which such subchapter would apply if such foreign corporation were a domestic corporation). (5) Derivatives with respect to stock of members of same worldwide affiliated group For purposes of this subchapter, the term derivative shall not include any derivative (determined without regard to this paragraph) with respect to stock issued by any member of the same worldwide affiliated group (as defined in section 864(f)) in which the taxpayer is a member. (6) Commodities used in normal course of trade or business For purposes of this subchapter, the term derivative shall not include any contract with respect to any commodity if— (A) such contract requires physical delivery with the option of cash settlement only