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Strategies & Market Trends : Canadian Options

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To: Donn who wrote (888)	3/17/1998 7:39:00 PM
From: Porter Davis	Read Replies (1) of 1598

>>strikes much past the current price... Before I explain how new strikes are listed, just pause for a minute to realise that we are all-time highs for the indices and virtually all the blue chips. In essence we have galloped through all the strikes. Now here's the procedure: new (higher or lower) strikes are listed automatically when the closing price of the underlying closes at or above the highest (lowest) listed strike. Additionally, the specialist may request that new strikes be added, provided that they are sequential (i.e., no gaps). This is usually done in response to demand from institutional clients. Lately we even have gotten the ability to do this intra-day. P-p-pressure? What p-p-p-pressure? I'm now going to link arms with my good friend Jack Daniels and head towards the land of nod. Tomorrow's another day. That's what I love about this business. Good or bad, it's always (almost) interesting. Happy trading. Porter

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