Option symbols have been confusing for many. Option symbols will soon be new & improved. Options Clearing Corporation (OCC) joined with industry representatives to devise the Options Symbology Initiative (OSI).
Industry expects to spend hundreds of millions of dollars on infrastructure and software alterations. The Options Pricing Regulatory Authority (OPRA) mandated a simpler method for reporting factors like options symbols, prices, and dates, though many Options firms are concerned about costs and adaptation to the new standards.
Your Options Technology staff should be set, but now is a good time to review the new symbology. On 2/9 at 12-1:00 PM Central, you or your clients can join an Instructor with The Options Institute, the CBOE educational arm, as he discusses what these changes will look like and what this means for options investors. Operations-wise you can view a PowerPoint from the 2009 SIFMA Operations Conference Options Symbolgy Panel.