This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

CBOE And C2 Plan To Launch Mini-Options On March 18 For AAPL, AMZN, GOOG, GLD And SPY

CHICAGO, March 5, 2013 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) announced today that Chicago Board Options Exchange, Incorporated (CBOE) and C2 Options Exchange (C2) plan to launch trading in "mini-options" that are one-tenth the size of standard options on five popular stocks and exchange traded funds (ETFs). Mini-options on Apple (AAPL), Amazon (AMZN), Google (GOOG), the SPDR Gold Trust ETF (GLD), and the SPDR S&P 500 ETF Trust (SPY) will begin trading on Monday, March 18.

(Logo: http://photos.prnewswire.com/prnh/20121022/MM97794LOGO-a)

"Many retail customers hold less than 100 shares of these higher-priced stocks in their portfolios," CBOE Chairman and CEO William J. Brodsky said. "We're excited to begin offering mini-options, which will give investors the ability to hedge their positions and trade options on these stocks more economically than with standard-sized options."

Mini-options contracts feature specifications identical to those of standard-sized options contracts on the above securities, except:

  • Mini-options contracts represent 10 shares of the underlying security versus 100 shares for standard-sized options contracts; and
  • Mini-options contracts trade under a different trading symbol than standard-sized options contracts. Mini-options carry the number "7" at the end of the security symbol.  For example, the Apple mini-options symbol is AAPL7.

In addition to standard monthly expiration dates, non-standard expiration dates (i.e., Weeklys options series, Quarterlys option series and LEAPS) will be eligible for mini-options trading. Plans also call for minimum price movements to be the same in both standard-sized options and mini-options, pending regulatory approval.

The following Designated Primary Market Makers (DPMs) have been appointed for mini-options for CBOE (C2):

  • AAPL --  Morgan Stanley & Co. LLC (C2: Wolverine Trading, LLC)
  • AMZN – Merrill Lynch Professional Clearing Corp. (C2: Timber Hill, LLC)
  • GOOG – Susquehanna Securities (C2: Timber Hill, LLC)
  • GLD -- Citadel Securities, LLC
  • SPY-- Wolverine Trading, LLC

C2 did not appoint DPMs for GLD and SPY mini-options. At C2, DPMs are appointed only in equity classes that are part of the options Penny Pilot Program.

Stock quotes in this article: AAPL, AMZN, CBOE, GLD, GOOG, SPY 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs