<<Orckit should apply for trading options. this would give it price support relative to the ability to hedge a position. any communication in this regard? >>
Are you a straight man :) - don't you just wish all things could be answered so quickly.
CBOE to List Options on Orckit Communications, Ltd. on Tuesday, June 23, and General Magic, Inc. GMGC/GGQ) and Teleglobe, Inc. TGO) on Wednesday, June 24
CHICAGO, June 17 /PRNewswire/ -- The Chicago Board Options Exchange (CBOE) today announced it will begin trading options on Orckit Communications, Ltd. (Nasdaq: ORCTF; CBOE: QFY) on Tuesday, June 23, General Magic, Inc. (Nasdaq: GMGC; CBOE: GGQ), and Teleglobe, Inc. (CBOE: TGO) on Wednesday, June 24, 1998.
Orckit Communications, Ltd., located in Tel Aviv, Israel, develops, manufactures and markets digital subscriber line systems. The company's systems enable telephone companies to cost effectively provide efficient, high-speed digital transmission of data, voice and voice-over the "last mile" of existing telephone network.
QFY options will trade on the January expiration cycle, with introductory expirations in July, August, October and January. Initial strike prices have been set at 15, 17 1/2 and 20. Eclipse, J.V. is the Designated Primary Market Maker (DPM) in the option.
General Magic, Inc. located in Sunnyvale, Calif., develops products, services, and technologies designed to simplify communications and manage information resources for mobile business professionals and other consumers. The company is developing a communications and information service which will integrate both voice and data. General Magic also offers handheld mobile communications solutions.
GGQ options will trade on the February expiration cycle, with introductory expirations in July, August, November and February. Initial strike prices have been set at 10, 12 1/2 and 15. General Magic, Inc. will trade in the K Mart Corporation (KM) trading crowd.
Teleglobe, Inc., located in Montreal, Canada, owns and operates a worldwide telecommunications network. The company's network includes submarine cable and satellite facilities linking North America with over 240 countries and territories. Teleglobe meets the connectivity needs of established and emerging carriers, as well as those of Internet service providers, broadcasters, and multinational corporations.
TGO options will trade on the March expiration cycle, with introductory expirations in July, August, September and December. Initial strike prices have been set at 25, 30 and 35. RMB & Associates has been named the Designated Primary Market Maker (DPM) in the option.
CBOE, regulated by the Securities and Exchange Commission (SEC), is the pioneer of listed options and the world's largest options marketplace.
SOURCE Chicago Board Options Exchange |
