symbol (SYM)

symbol (SYM)

A system of letters used to uniquely identify a security. For Fixed Income, see Security Number.

The option symbol consists of the Root Symbol and the corresponding Strike Codes. To view a single option quote you must know the Root Symbol and the Strike Codes, which are joined together with an underscore character.

Root Symbol-For listed stock, the option symbols are the same as for the underlying stock. Symbols for options on qualified over-the-counter securities vary according to the market data vendor.

Strike Codes-After the Root Symbol is determined, it must be joined with the appropriate Strike Codes. The Strike Code consists of two letters, the first letter designates the expiration month and the second letter indicates the strike price.

Note: Options involve risk and are not suitable for all investors. Clients should understand thoroughly the risks and opportunities associated with trading options and should read the document entitled Characteristics and Risks of Standardized Options before engaging in any options transactions.

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Industry/Domain: Financial services
Category: Funds
Company: Merrill Lynch
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