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#1
January 28, 2010, 2:47 am
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New Option Symbology Coming
Tom Sosnoff mentioned that new symbology to replace OPRA codes are mandated for use in the coming month. I did a little research and found some discussion of the "Options Symbology Initiative" at the OCC. Apparently they started working on this five years ago and unsurprisingly it has taken at least a year longer than planned.
The new symbols will be much longer but the verbosity is also intuitively informative. They are formed from concatenation of the following: Root symbol + Expiration Year(yy)+ Expiration Month(mm)+ Expiration Day(dd) + Call/Put Indicator (C or P) + Strike price It looks like the overall symbols can be different lengths if the root symbols are the underlying ticker symbol (which can anywhere from 1 to 4 or more characters) and the strike price will not include leading zeros. I wonder if that will be a problem for displays on screen? Tom says it will not affect the TOS platform at all. -aw Last edited by awtrader; January 28, 2010 at 2:53 am. 
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#2
February 3, 2010, 11:56 pm
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An example
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