Options Message Board - Msg: 13293086

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Strategies & Market Trends : Options

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To: Kayaker who wrote (5653)	3/27/2000 10:48:00 PM
From: taxman	of 8096

thanks. for every seller there is a buyer even if it is a specialist. excerpt from the cboe web page follows: regards Options are contracts in which the terms of the contract are standardized and give the buyer the right, but not the obligation, to buy or sell a particular asset (e.g., the underlying stock) at a fixed price (the strike price) for a specific period of time (until expiration). To the buyer, an equity call option normally represents the right to buy 100 shares of underlying stock, whereas an equity put option normally represents the right to sell 100 shares of underlying stock. The seller of an option is obligated to perform according to the terms of the options contract-selling the stock at the contracted price (the strike price) for a call seller, or purchasing it for a put seller-if the option is exercised by the buyer. All option contracts trade on U.S. securities exchanges are issued, guaranteed and cleared by the Options Clearing Corporation (OCC). OCC is a registered clearing corporation with the SEC and has received 'AAA' credit rating form Standard & Poor's Corporation. The 'AAA' credit rating corresponds to OCC's ability to fulfill its obligations as counter-party for options trades.

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