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Strategies & Market Trends : Canadian Options
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To: Porter Davis who wrote (1560)11/10/2000 3:31:11 PM
From: Cush  Read Replies (1) of 1598
 
Though I've addressed this to Porter, I hope anyone who cares to enlighten me will jump in.

I'm trying to get an initial understanding of what I'm looking at when I look at the Options site.
me.org

Under Abitibi we have Cycle 5(3)
Briefly, what's that mean?

Then MGF//MPS 10//20
What's that mean?

Then opening Abitibi,

Starting from the left
Bid Price Ask Price (I see the prices but are there quantities somewhere?)

Last Price - zero (that seems clear enough)

Net Change (from previous day?)

High Low (clear enough)

Volume (board lots?)

Open Interest (What does this mean?)

Month-Strike Price
MAR 9.000 (March $9.00 what date in March?)

OK, now-

If I buy this March $9. call at $4.90
how much do I pay today?
Does that give me the right to buy (board lot 100 shares?) at any time from now until it expires at a price of $9.00 ??

Conversely, and more confusing for me,
if I bought a board lot of Puts,
at $ .30
What do I pay today?
Does this give me the right to sell this board lot at any date prior to the date in March that this option expires?
Can I sell on any day that I can obtain a price less than $9.00 ??

How do I sell what I don't own?
Does the transaction occur without further dollar investment by me, and then I am paid the difference?

Thanks for any help guys.

Directions to a good book on the subject would be appreciated.

Just re-reading this. I also don't understand where the calls or puts I might purchase are then traded.
i.e. Am I trading in options after that, or am I trading in the shares that the options were for?

Cush
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