Options on NASDAQ Stocks

Options on NASDAQ Stocks

Options whose underlying stocks are listed on NASDAQ do not employ the common stock symbol in the root of the option symbol.  Exchange rules dictate that all options on stocks must use no more than 1-3 alpha chars.  Because NASDAQ stock symbols are 4 or 5 chars in length, exchanges listing options on NASDAQ stocks choose a 3-char 'dummy' stock symbol as the root of the option symbol.  The 'dummy' stock symbol is followed by a space and 2 alpha chars in the same way described in #3 above (Options on Non-Nasdaq Stocks).  Examples are as follows:

Symbol for a MSFT December 105 put option:                MSQ  ZA

               Where Z represents December puts

               Where A represents a strike of 105

       Symbol for an AAPL March 50 call option:        AAQ  CJ

               Where C represents March calls

               Where J represents a strike of 50