Pacific Exchange Announces Trading of Adjusted Series Options for First Chicago NBD Corporation

Strategic Insights -

The Pacific Exchange has announced the trading of adjusted series options for First Chicago NBD Corporation, including LEAPS, as part of the merger between First Chicago NBD Corporation and Banc One Corporation. The trading is set to begin on October 6, 1998, with the January four-month expiration cycle. The position and exercise limits for the adjusted series options will be 65,000 contracts.

Key Takeaways:

  • The Pacific Exchange will start trading the adjusted series options for First Chicago NBD Corporation, including LEAPS, on October 6, 1998.
  • The options will be traded on the January four-month expiration cycle.
  • The position and exercise limits for any combination of FQU, LVX, ZNU, ONE, LBE, and ZBE may not exceed 65,000 contracts.
  • The adjusted series options will be available for trading under the symbols FQU, LVX, and ZNU.
  • The options deliver various strike prices, including OCT 60, OCT 65, JAN 35, and APR 65, among others.
  • The First Chicago NBD Corporation adjusted series options include 2000 LEAPS(R) under the symbol LVX and 2001 LEAPS(R) under the symbol ZNU.
  • The options are expected to be traded by pit rep Diane Fiddyment of the AirTouch Communication trading crowd.
  • Position and exercise limits will be 65,000 contracts.

Statistics:

  • 65,000: Position and exercise limits for any combination of FQU, LVX, ZNU, ONE, LBE, and ZBE.
  • 6: The trading is set to begin on October 6, 1998.
  • 2000 LEAPS(R): Options available for trading under the symbol LVX.
  • 2001 LEAPS(R): Options available for trading under the symbol ZNU.
  • 162: Each contract delivers 162 shares of ONE (Bank One Corporation).

Sources:

  • PRNewswire
  • Pacific Exchange (PCX)
  • First Chicago NBD Corporation (FCN)
  • Banc One Corporation (ONE)