Option symbolology
In an effort to simplify their product and encourage more people to trade options, the Chicago Board Option Exchange (CBOE) has decided to completely change the format of option symbols. In the old format, APV BT represented an Apple Feb 200 Call. The new symbol for this option is AAPL FEB 200C which is easier to construct and leaves no doubt that this is an Apple option et al. An option expiring in a future year, such as 2011, will display the year after the month as in AAPL JAN11 200C. The last letter 'C' indicates that this is a Call. Use 'P' to designate a Put (e.g., AAPL FEB 200P).


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