New Option Symbology

Many of us have been working on implementing new Option Symbology for listed options. May be in few months we might forget old format (OPRA). The new format is very friendly and we don’t have to remember those old rules. In a nutshell, here’s how the new option symbol formed:

Root symbol + Expiration Year (YY) + Expiration Month (MM) + Expiration Day (DD) + Call/Put Indicator (C/P) + Strike price

  1. Root symbol of the underlying (same as the ticker symbol)  (6 Chars)
  2. Expiration year like 09, 10, 11 (2 Chars)
  3. Expiration Month (number) – 01, 02, 03 …. 12 (2 Chars)
  4. Expiration Day – 01, 02, ….31 (2 Chars)
  5. Call/Put Indicator – ‘C’ for CALL, ‘P’ for PUT (1 Char)
  6. Strike Price – 8 Digits (last 3 indicate decimals) (5 + 3 Chars)

Total 21 Characters/Bytes.

Eg: AAPL100416C00250000

Apple Call Option with Strike Price of 250.00 Expiring in 4/2010

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