Options

C2
1

When I try to buy march ebay call options at 40 I get this:



EBQCH is Mar05 0 call

why is the call 0?

2

I’ll explain why you saw the ‘0’ strike. (This explanation will be aimed at software writers. If you’re not interested, ignore it.)



When an option is not already in the C2 symbol database, my software needs to go out onto the Internet and look up the strike (sometimes strikes are different than their letter codes). Most of the time it is able to do that instantly - before you see the screen confirming the strike price. Every now and then, the strike is not looked up in time, so it says it is a ‘0’ strike when it confirms your order.



But don’t worry, this doesn’t affect your trade in any way. The trade is still executed instantly (if it’s marketable). Later it will fill in the missing strike data (usually within a minute or so) and you will see the correct info on your system details page.



More than you wanted to know, probably.

-MK

3

thanks,

I"ll try and check it .

One more question. When I look at the strike price codes columms for A it has 5, 105,205, 305 …

If I want say 105 rather than 205 how do I get that?

4

Options symbols are determined by the underlying price. Usually, assume the strike codes represent a price near the current underlying price. For more info on how options work, see www.optionsclearing.com.

5


thanks, I have traded options but with a broker you get a string of quotes at differnt prices. Working on collective is slightly different.

Take Goog (google)

I want a march call with strike price of 180

so I enter

GOQCP

and get a march call with strike price 80 …

6

There are not different option symbols depending on whether you use C2 or another broker. We all use the same option symbols. The GOQCP option really is the 80 call.



Some stocks (volatile ones with lots of traded options over a broad price range) use non-standard symbols. (For example the SPX option chain.) You really need to know what symbol you want to trade before you enter a trade onto C2. I can add to the “To Do” list a feature that allows you to look up an option symbol, but it will take a bit of doing, and so, in the interim, you need to find another resource to look up option symbols.



Does anyone out there have any suggestions for Robert? (I.E. Is there a web site he can use to figure out what symbol to use when he wants a GOOG March 80 call?)

7

Matthew,

I want a GOOG 180 march call, not the 80 .

8

GOU CP

9

got it!

10

I use www.cboe.com delayed quotes for all my option symbols chains it is a free site for delayed quotes and for $25 they have a great streamer for realtime quotes for stocks and options that I use

11

thanks Bob