There are multiple June 20 calls and one is a bit confusing. UYQFT is selling a 7.50 with little or no interest and selling at a strang price. QAVFT is selling at 12.41 and is obviously the normal call. In reference to the UYQFT there are obviously other conditions to this option. And I can't seem to find out the particulars on this option. Even google and cboe are of no help. Where can I find details beyond expiration dates? TigerTom
I haven't checked but I think the price is off because of a large bid-ask spread. There seems to be no difference between the regular option and quarterly option other than the expiration date. http://www.cboe.com/Products/indexopts/quarterly_all_spec.aspx
I believe the reason you see two identical strike prices on the QQQQ is because a QQQQ holding had split it's shares and this would affect the QQQQ options so they issue new options at the same strike and prevent any new positions in the old options. I'm 75% sure this is the reason for the two options. ---
Still a bit confused! I couldn't find any record of a stock split that may have occurred recently! More investigation reveals many of these type of options for qqqq. All with this strange symbol: UYQ. Which doesn't make any sense since they should start with q. Also on marketwatch they are called: Pwrshs Qqq Tr-Qtrly. Not sure what the tri-quarterly means. See: http://www.marketwatch.com/quotes/uyq=ft?sid=2543972 Guess I'll have to call a broker!
They are indeed a new one year trial quarterly option! Expire on the last day of the quarter, are relatively new, and as said on a one year trial! And so far on not too actively traded. TigerTom
Lots of other QQQQ chains also have the duplicate strikes, it's not limited to the quarterly options. I'm very sure the duplicate strikes are because of a QQQQ holding stock split or maybe a dividend. -