Options Symbology Initiative
Important Notices
May 14: GTC Orders Scheduled for Consolidation will be Cancelled After the Close
May 14, 2010 is the next consolidation date mandated by the (OCC) Options Clearing Corporation. Underlying symbols starting with "S" to "Z" will be consolidated on this date and a preliminary Consolidation Spreadsheet can be found at the OCC website. Note: This information is subject to change. An updated spreadsheet will be finalized by the OCC by noon on the Wednesday prior to each consolidation date.
Symbols will be consolidated from March to May 2010 and future consolidations will be taken in groups designated by the OCC. Symbols within each consolidation group are based on the first letter of the underlying security (unless a corporate action pushes it back to another date). During consolidation, option symbols will be changed to match the underlying symbol.
Prefix and Suffix Indicators for Consolidated Symbols
Examples of post consolidation symbols are provided below. Some option symbols may have a numerical prefix or a suffix included in the underlying symbol. These digits will only apply to symbols that have gone through consolidation. Please see the updated example of OEX below. A prefix is no longer necessary for the OEX S&P 100 American style option.
The prefix digit will indicate the following:
- American-style settle at open price.
- European-style settle at open price.
- If an option executes American-style, settles at close price, and is on an equity, then there is no prefix; it is not optional and should not be used.
- If an option executes European-style, settles at open price, and is on an index, then there is no prefix; it is not optional and should not be used.
The suffix digit will only indicate that the delivery is other than the standard 100 shares of the underlying stock. The digit itself is not a universal code for a specific set of delivery. For details of non-standard delivery options please visit the OCC website.
Below is an example of post consolidation symbol for a standard delivery of ACAS.
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Below is an example of post consolidation symbol for a non-standard delivery of OIH. The delivery is 100 shares of OIH and $38.68 in cash.
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Below is an example of post consolidation symbol for an American-style OEX. To get a chain on the OEX you must enter it ^OEX.
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If you have any questions about this industry–wide initiative, please email Customer Service or call 1-888-793-5333.
Updated: 05/12/2010