New options symbols: Generic, Schwab, Fidelity


Thursday, March 25th, 2010 | Vance Harwood

Recently options symbols transitioned to a new terminology.   Unfortunately Fidelity and Schwab decided they didn’t want to use the standard, generic format, so they invented their own “better” version of the new symbols.   Here are the new formats:

Generic, industry standard format: “SPY 10417C00114000″     (<symbol> <YYMMDD>  <C or P><5 digit whole dollar strike><3 digit decimal>).

Schwab’s systems: “SPY 04/17/2010 114.00 C”       (<symbol> <MM/DD/YYYY> <whole dollar strike>.<2 digit decimal> <C or P>)

Fidelity’s systems: “-SPY100417C114   (<dash><symbol> <YYMMDD>  <C or P><whole dollar strike, no leading zeros><”.” if fractional strike> <decimal with no trailing zeros>) .  Another example would be “-QHD100417C32.5″  for a call with a strike price of $32.5

Thursday, March 25th, 2010 | Vance Harwood
subscribe to Six Figure Investing