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Gas industry

American Stock Exchange Expands Options Trading to 3Dfx Interactive and Seven Seas Petroleum

Strategic Insights

— 1 min read

The American Stock Exchange announced that it will start trading options on the over-the-counter stock of 3Dfx Interactive, Inc. and the Amex-listed stock of Seven Seas Petroleum Inc. effective February 6. 3Dfx Interactive, a San Jose-based company, develops high-performance 3D media processors and software used in multiple hardware entertainment platforms. The initial strike prices for TDFX/FQ options will be 22 1/2, 25, and 30, with position limits of 7,500 contracts. In contrast, Seven Seas Petroleum, based in Houston, will have strike prices of 15, 17 1/2, and 20 for SEV options, with position limits of 4,500 contracts. Both options will have initial expiration months in February, March, June, and September of 1998. The new options will be traded by AGS Specialist Partners and Spear, Leeds & Kellogg, respectively.

Key Takeaways:

  • 3Dfx Interactive, a San Jose-based company, will have options traded with strike prices of 22 1/2, 25, and 30, and position limits of 7,500 contracts.
  • Seven Seas Petroleum, a Houston-based company, will have options traded with strike prices of 15, 17 1/2, and 20, and position limits of 4,500 contracts.
  • Both companies will have initial expiration months in February, March, June, and September of 1998.
  • AGS Specialist Partners will trade the TDFX/FQ options, while Spear, Leeds & Kellogg will trade the SEV options.
  • The American Stock Exchange trades options on 857 stocks, including 367 over-the-counter stocks and 92 American Depositary Receipts (ADR's).
  • The exchange is a leader in listing warrants on foreign currencies and indexes, as well as hybrid instruments and other structured products.

Statistics:

  • 3Dfx Interactive's options will have 7,500 contract position limits.
  • Seven Seas Petroleum's options will have 4,500 contract position limits.
  • TDFX/FQ options will have strike prices of 22 1/2, 25, and 30.
  • SEV options will have strike prices of 15, 17 1/2, and 20.
  • The American Stock Exchange trades options on 857 stocks.
  • The exchange is a leader in listing warrants on foreign currencies and indexes.

Sources:

  • PRNewswire - American Stock Exchange to Trade Options on 3Dfx Interactive, Inc. and Seven Seas Petroleum Inc.
  • PRNewswire - The American Stock Exchange

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