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.
"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.
- 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