PCX to add options on Covad, LEAPS on Level 3
CHICAGO, April 23 (Reuters) - The Pacific Exchange (PCX)
said on Friday it will list options on Covad Communications
Group Inc. <COVD.O> on April 29 and add 2000 and 2001 LEAPS
(Long-term Equity Anticipation Securities) on Level 3
Communications Inc. <LVLT.O> on April 26.
Covad Communications, based in Santa Clara, Calif.,
provides dedicated high-speed digital communications services.
Level 3 Communications Inc, based in Omaha, Neb., provides
telecommunications and information services.
Covad options will open with strike prices of 100, 110 and
120 and expiration months of May, June, September and December.
Position and exercise limits will be 31,500 contracts.
LEAPS on Level 3 Communications will have strikes set at
70, 80, 90 and 100 and expire in January 2000 and January 2001.
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