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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe) -- Ignore unavailable to you. Want to Upgrade?

To: Joseph Silent who wrote (1522)	7/11/1999 12:06:00 AM
From: Mark Z	Respond to of 2241

Well, I can't even get 1 listing for NITE (says 'symbol not found') but my guess is you're seeing the quotes for the CBOE and the American exchanges, the two option exchanges that make a market in NITE options. Next time you look, see if there's a distinguishing 'C' on one line and 'A' on the other. For other symbols, you may see a 'P'(acific Exchange) or an X(Philadelphia exchange or 'Phlx'). BTW, you may want to check out: fast.quote.com That's the Philly exchange's web site and their quotes tend to load much quicker than CBOE's. They also provide some metrics (delta, etc.) if you want them. However, they only provide the composite quote, not a quote for each exchange.

To: Joseph Silent who wrote (1522)	7/12/1999 1:52:00 AM
From: RoseCampion	Respond to of 2241

Re: two listings for the same month/strike. Often this happens after a stock split (which I assume NITE has gone through since it's been so successful?). Sometimes I've seen this when post-split option can't easily be reconciled by simply dividing the strike in half (in a 2-1 split). For example, there are some January 90 calls for QCOM that also grant 25 shares in LWIN, a company they spun off about a year ago, as well as some 'normal' January 90 calls. (See -LXWAR for an example of the former.) Other times, however, I tend to think the 'duplicate' options are simple bookkeeping/database problems in whoever is providing the quotes. A close look will show that one of the two has no open interest or no volume or a last trade date in the Paleozoic - so you know it's the bogus one. -Rose-