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Attention all OPRA subscribers.
In early 2010, the symbol format for all Equity and Index options from OPRA will change. Here's an excerpt from the OCC on this change:
Read the rest here.
Here are examples of what the new format will look like in our systems:
O:MSFT 10B20.00 => Microsoft FEB 2010 Call for 20.00
O:IBM 10O100.00 => IBM MAR 2010 Put for 100.00
O:IBM 10O100.00=B => IBM MAR 2010 Put for 100.00 Boston Exch
Minor modifications are expected for most of our products and will be made available in Dec 09. We are looking to do a hard cut-over to the new symbology on Feb 1, 2010.
All OPRA customers will receive direct notifications about this change as new information is available and upgrades to support the new formats are ready.
Much more to come on this subject in the coming weeks and months.
If you have any questions or concerns, feel free to use this other thread to post them.
Thank you.
In early 2010, the symbol format for all Equity and Index options from OPRA will change. Here's an excerpt from the OCC on this change:
Today, many organizations that support trading in listed options are restricted in their ability to identify and process exchange listed option contracts. These organizations typically use a three to five alpha character representation. The first one to three characters identify the option root symbol and the remaining two alpha characters identify the expiration month, call/put indicator and strike price (IBMER = IBM May 2006 90 call).
This method has been used for over 25 years and poses several limitations in today's marketplace. The limitation of three characters to represent the option root creates inconsistency with OTC securities and has resulted in the use of illogical identifiers in both the options and underlying securities markets. The month and call/put codes assume expiration occurs in the following sequential month and assumes a single expiration day.
This method has been used for over 25 years and poses several limitations in today's marketplace. The limitation of three characters to represent the option root creates inconsistency with OTC securities and has resulted in the use of illogical identifiers in both the options and underlying securities markets. The month and call/put codes assume expiration occurs in the following sequential month and assumes a single expiration day.
Here are examples of what the new format will look like in our systems:
O:MSFT 10B20.00 => Microsoft FEB 2010 Call for 20.00
O:IBM 10O100.00 => IBM MAR 2010 Put for 100.00
O:IBM 10O100.00=B => IBM MAR 2010 Put for 100.00 Boston Exch
Minor modifications are expected for most of our products and will be made available in Dec 09. We are looking to do a hard cut-over to the new symbology on Feb 1, 2010.
All OPRA customers will receive direct notifications about this change as new information is available and upgrades to support the new formats are ready.
Much more to come on this subject in the coming weeks and months.
If you have any questions or concerns, feel free to use this other thread to post them.
Thank you.
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