Option Symbology

New Option Industry Format (Effective 1 Feb 2010)

Stock options symbols as we’ve known are changing. Starting February 2010 the Options Clearing Commission (OCC) has voted to chance current option symbols to be replaced with a new option symbol format. The current format is limited as the options business has grown and diversified. Hence, the OCC has decided to replace the five-character OPRA code with a new 21-character symbology key for identifying and trading options. The new, longer symbol format will be able to accommodate new products and support future growth and better meet the need of option traders and the industry. The conversion begins in February 1st, 2010.

 

New Option Symbol Format:

Required
Option Distinction

Stock
Symbol

Required
Blank Space

Expiration Year

Call/Put Month
Code

Strike Price

Expiry Day
(optional)

Region Code
(optional)

O:

IBM

 

14

B

150.00

D5

A

 
Examples of New Option Format:
O:GS 14B150.00 Goldman Sachs FEB 2014 Call for 150.00
O:IBM 14O75.00 IBM MAR 2014 Put for 75.00
O:IBM 14O100.00B IBM MAR 2014 Put for 100.00 Boston Exchange

Option Symbol Format Key:
Required Option Distinction Option Symbols always start with O: or o: (letter o, not number zero)
Stock Symbol Underlying Stock Symbol for option (root)
Required Blank Space Required space between stock symbol and options information
Expiration Year Two digit expiration year of option (14 = 2014)
Put/Call Month Code

 

Call
Month
Put
A
January
M
B
February
N
C
March
O
D
April
P
E
May
Q
F
June
R
G
July
S
H
August
T
I
September
U
J
October
V
K
November
W
L
December
X
 
Strike Price Default value in 1/100ths – Example - 25.00 or 175.00
Expiry Day (optional) D - for Daily/Quarterly expiry + day of month 1 - 31
Example: D31
Used for Quarterly, Weekly or any expiry other than 3rd Saturday
Region Code (optional)

 

A
AMEX
B
Boston
C
CBOE
I
ISE
P
NYSE-Arca
X
Philadelphia Options Exchange