American Stock Exchange Expands Options Trading to Include ARM Financial Group, Pharmaceutical Marketing Services, and SEI Investments

Strategic Insights -

The American Stock Exchange announced the introduction of options trading on three new companies: ARM Financial Group, Pharmaceutical Marketing Services, and SEI Investments. This expansion will provide investors with increased diversification and flexibility in their trading strategies. The new options will begin trading on April 1, with initial expiration months set for 1998.

Key Takeaways:

  • The American Stock Exchange will trade options on ARM Financial Group, Pharmaceutical Marketing Services, and SEI Investments starting April 1, 1998.
  • ARM Financial Group provides products and services for the long-term savings and retirement markets, including fixed, indexed, and variable annuities.
  • Pharmaceutical Marketing Services provides information services to pharmaceutical and healthcare companies in the US, Europe, and Japan.
  • SEI Investments Company is a global asset management firm offering trust technology, back-office solutions, and investment solutions.
  • The new options will have initial strike prices and position limits, with Kalb, Voorhis/Cranmer & Cranmer serving as the specialist unit for ARM, J. Streicher & Co. LLC for PMRX/QPA, and LETCO-Specialist, L.P. for QEI.
  • SEI will open with strike prices of 60, 65, and 70, with position limits of 4,500 contracts.
  • QPA will open with strike prices of 12-1/2, 15, and 17-1/2, with position limits of 4,500 contracts.
  • The American Stock Exchange has traded options on 29 broad-based and sector indexes, 900 stocks, and 105 LEAPS, and will now list options on these three new companies.

Statistics:

  • The American Stock Exchange will trade options on 30 companies.
  • The initial strike prices for SEI will be 60-70.
  • The initial strike prices for QPA will be 12-1/2-17-1/2.
  • The position limits for SEI and QPA will be 4,500 contracts.
  • The specialist units for ARM, PMRX/QPA, and QEI will be Kalb, Voorhis/Cranmer & Cranmer, J. Streicher & Co. LLC, and LETCO-Specialist, L.P. respectively.

Sources:

  • American Stock Exchange
  • Press Release, American Stock Exchange, dated March 26, 1998.
  • ARM Financial Group, Inc.
  • Pharmaceutical Marketing Services Inc.
  • SEI Investments Company