SINL

The methodology for identifying exchange-listed options has changed.

To get a better idea about how the new options symbology works, take a look at the Guide to Options Symbols published by Scottrade.

The new OSI format replaces the 5 digit option code with a new alpha-numeric system code. For example, under the old option symbol system,  the symbol for the BIDU June 2010 650 call was BIAFX. Under the new option symbol system, the code for this option contract is BIA100619C00650000.

It appears that brokerage firms will be using modified option symbol systems to create a more user friendly modified option symbol format for their clients. 

Have you been watching ISRG and BIDU lately? SINL Quick Takes had these two huge gainers targeted long before they started their major moves to the upside. If you had gotten out of these positions on Frday, July 24, you could have realized a 287% profit on the ISRG option spread and a 195% profit on the BIDU option spread.

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Imagine a prism. A prism refracts light. When light goes through a prism it looks very different when it comes out on the other side of the prism then when it went into the prism. Yet, it is the same light. By analogy, investor perception is the prism through which the light of financial results, news, and other events that affect stock prices is viewed. Although all investors are viewing the same information, this information is being filtered through a prism (i.e., their perception of the information).

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