OIH Options

Discussion in 'Options' started by SteveGoTex, Dec 3, 2009.

  1. I have been trading time spreads on OIH. Periodically, the options series gets renamed, and after this my broker only allows closing transactions on these options.

    For example the DEC 130 Call got renamed to HBVLF (from OIHLF) on Dec 1.

    At IB, the symbol HBV now refers to a "basket" of securities, not the OIH.

    The HBV series can not be used to hedge against OIH series shares or options, at least from the standpoint of margin.

    The problem it is causing me is my back month long position cannot be used to hedge a new front month short position. That short option is treated as a naked option at IB, not part of a time spread.

    Where can I look to find out what is going on? Is the actual makeup of the trust changing? It has to be something more complicated than dividends.

    Any help or pointers to info appreciated.
    Thanks in advance
  2. MTE


    See here for contract adjustment notes.
  3. Thanks