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Mini Options

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ISE launched mini option contracts on March 18, 2013. The launch included five securities: Google (GOOG), SPDR Gold Trust (GLD), Amazon (AMZN), Apple (AAPL) and the SPDR S&P 500 ETF (SPY).

If the underlying security trades above $90, there is a possibility of an additional series of mini options. Weekly and quarterly mini options were also introduced by exchanges. Weekly mini options expire within the week compared to the usual one month window. This gives the trader more ability to match the short-term market movement with the option.

A mini option contract has an appended number 7 symbol to its security name ( AAPL7, GOOG7, GLD7, AMZN7, SPY7). Mini options are beneficial to small traders who cannot afford to perform large trades using the standard 100 shares per contract. Risk is managed better as the traders will be able to trade the popular stocks without taking too much from their capital.

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ISE launched mini option contracts on March 18, 2013. The launch included five securities: Google (GOOG), SPDR Gold Trust (GLD), Amazon (AMZN), Apple (AAPL) and the SPDR S&P 500 ETF (SPY).

If the underlying security trades above $90, there is a possibility of an additional series of mini options. Weekly and quarterly mini options were also introduced by exchanges. Weekly mini options expire within the week compared to the usual one month window. This gives the trader more ability to match the short-term market movement with the option.

A mini option contract has an appended number 7 symbol to its security name ( AAPL7, GOOG7, GLD7, AMZN7, SPY7). Mini options are beneficial to small traders who cannot afford to perform large trades using the standard 100 shares per contract. Risk is managed better as the traders will be able to trade the popular stocks without taking too much from their capital.

 

Who is ISE and where do I find them online.

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A mini option is for 10 shares of the underlying stock or ETF, rather than 100 shares as is the case with “regular” options. So far, there are mini-options only on five stocks: Amazon (AMZN), Apple (AAPL), Google (GOOG), Gold ETF (GLD), and S&P 500 SPRDs (SPY).

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