Thanks to you and to Oblomov for getting me this far.
I have been studying as best I can, and finally got to a page that quotes Euro options as of last Friday:
cme.com
I gather that these options are meant for big players and that the minimum trading unit is 50 contracts.
Now what I want to know is:
1. Using this information, how much would it cost to buy 50 calls on the Euro at $1.00, expiration June of 2001?
2. What is the symbol for this contract?
The contract is priced at .01420 about midway down the page linked above. I could perhaps study some more and find out whether 50 contracts would cost $710, $7,100, or $71,000 plus commission. But I thought it might be easier to ask if someone else is already at home with these quotes.
Since, as I understand it, we are talking about contracts on units of 62,500 Euros, or a total of 3,125,000 Euros, maybe the cost of 50 contacts is $710,000.
OK--I have made an open display of my ignorance. Somebody help me out. |
