The Options Symbology Initiative (OSI): Schaeffer’s Explores the Changing Face of Options

The popularity of equity options has increased exponentially in the past decade, as Bernie Schaeffer recently noted in the October edition of the Option Advisor, as investors have become wise to the appealing leverage provided by these unique derivatives. According to industry pioneer Thomas Peterffy, since their inception 36 years ago, listed equity options volume has escalated at an annual compound rate of 36%. In fact, year-to-date equity options volume is now slightly higher than that of 2008, which was a record year for volume in the options pits.

However, because of this influx of option volume and the growing complexity of the industry, the current format of option symbols has created several unavoidable speed bumps.

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