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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?
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To: olduvai5 who wrote (3334)5/19/1998 5:09:00 PM
From: Jonathan Edwards  Read Replies (2) of 4697
 
No WFR 2001 LEAPs.

Somebody asked about WFR 2001 LEAPs, which were due to begin trading at May expiration. (I thought it was on this thread but couldn't find it. Maybe it was on the blood thread. Anyway...)

I sent the CBOE email asking about this since I'd like to place a wager on the 2001s and received the following reply:

WFR is currently valued below our general leap listing requirements. The following is a list of general guidelines that may be used in the selection of new equity leap options. It should be noted that this list is not exclusive or mandatory and is subject to change at the discretion of the CBOE.

First, the underlying security price should be at least $20.00 or higher.

Second, there should be at least 250 contracts traded per day in the regular equity option.

Third, if the underlying stock trades on the New York Stock Exchange (NYSE) or the American Stock Exchange (AMEX) there should be a minimum of 200,000 shares traded per day. If the underlying security trades on the National Association of Security Dealers Automated Quotation System (NASDAQ) there should be a minimum of 400,000 shares traded per day.

Fourth, the underlying security should have good name recognition.

Fifth, the approval of the crowd that trades the regular equity option is needed.

Lastly, the approval of the Office of the Chairman is needed.
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