InformedTrades
Register as a Member
    Why join? See our testimonials.

Register Front Page See Today's Posts Site
Map
Free Trading
Courses
Shop
Front Page > Forum Central > Ask/Answer Questions

Old 04-12-2009, 01:27 PM   #1 (permalink)
 
Join Date: Mar 2009
Posts: 96

Thanks Stats
Thanks (Given): 0
Thanks (Received): 2

Symbol for Oil Call Options


Hello , does anyone know the symbol to buy call options on oil ? I have searched the web and cannot find reference to it . Alot of articles about oil options , but I can ' t find the symbol . I found a futures symbol for cl , but it says invalid symbol when I enter it for an option .

Thanks
scott

ScottD is offline   Reply With Quote
 
Old 04-12-2009, 04:44 PM   #2 (permalink)
Community Co-Host
 
Tekmnd's Avatar
 
Join Date: Aug 2008
Location: San Diego
Posts: 4,596

Thanks Stats
Thanks (Given): 1
Thanks (Received): 412

Hi Scott
On the right column are links for calls
Crude Oil (Light) Futures Price Quote

Cheers
Tek
Tekmnd is offline   Reply With Quote
 
Old 04-12-2009, 04:52 PM   #3 (permalink)
 
Ektrader's Avatar
 
Join Date: Feb 2009
Location: Cyberspace
Posts: 1,223

Thanks Stats
Thanks (Given): 0
Thanks (Received): 13

Quote:
Originally Posted by ScottD View Post
Hello , does anyone know the symbol to buy call options on oil ? I have searched the web and cannot find reference to it . Alot of articles about oil options , but I can ' t find the symbol . I found a futures symbol for cl , but it says invalid symbol when I enter it for an option .

Thanks
scott
Also , you can trade the ETF , USO ( United States Oil ), options . I have traded them myself , smooth instrument . Just a heads up . Oil is approaching resistance on all derivatives . Good luck with whatever you decide .

Happy Trading

Ektrader
Ektrader is offline   Reply With Quote
 
Old 04-13-2009, 03:47 PM   #4 (permalink)
 
Join Date: Mar 2009
Posts: 96

Thanks Stats
Thanks (Given): 0
Thanks (Received): 2

Tek Help!


Hey Tek ,
I looked at that link , then clicked on the far right column on & quot ; call & quot ; but I don ' t understand the next window that opens ? I still don ' t see a symbol for oil calls that I would enter into ETrade . I also don ' t see prices . I copied the chart below , but it didn ' t copy and paste correctly so it doesn ' t look right . I don ' t understand the numbers under & quot ; strike & quot ;. I thought strike referred to price , but these numbers are way to high for a barrell of oil . I don ' t know what it means . It doesn ' t look like a normal options chain . What would I type on ETrade to see the available call options for oil ? I would really appreciate your help on this , I can ' t find any valid info on the web either .
Thanks
Scott

Strike Session Pr . Day Expiry
Date
Open High Low Last Time Sett Chg Vol Sett OpInt
future - - - 66 . 98 Apr 09 , 17 : 57 67 . 17 - 1 . 44 7034 68 . 61 75341
480 - - - 14 . 98 Apr 09 , 17 : 53 23 . 24 - 1 . 07 - 24 . 31 150 2010 - 10 - 16
500 - - - 12 . 50 Apr 09 , 17 : 57 21 . 85 - 1 . 04 - 22 . 89 400 2010 - 10 - 16
540 - - - 9 . 49 Apr 09 , 17 : 53 19 . 21 - 0 . 96 - 20 . 17 800 2010 - 10 - 16
545 - - - 9 . 29 Apr 09 , 17 : 52 18 . 90 - 0 . 95 - 19 . 85 - 2010 - 10 - 16
550 - - - 10 . 81 Apr 09 , 17 : 54 18 . 58 - 0 . 94 - 19 . 52 705 2010 - 10 - 16
560 - - - 10 . 56 Apr 09 , 17 : 53 17 . 96 - 0 . 92 - 18 . 88 550 2010 - 10 - 16
ScottD is offline   Reply With Quote
 
Old 04-13-2009, 05:09 PM   #5 (permalink)
Community Co-Host
 
Tekmnd's Avatar
 
Join Date: Aug 2008
Location: San Diego
Posts: 4,596

Thanks Stats
Thanks (Given): 1
Thanks (Received): 412

Hi Scott

These are oil future calls . Are you sure you can trade future calls on etrade ?
If not , you could trade calls an oil ETF like USO .
There is an option list on yahoo -

Yahoo! Finance
Enter in USO , and then click on & quot ; options & quot ; on the left hand side of the page .
You should also be able to get an options list right through etrade . Just use USO as the stock symbol for the option chain .

There are other oil ETFs as well -
Oil Price ETFs - Complete ETF List
_____________________
The list you posted from the link I gave is a list of different options for a particular oil futures contract . I don ' t trade futures or future options , so I am not very knowledgeable on them .
However , I can break down some of what is presented -

Open High Low Last Time Sett Chg Vol Sett OpInt
future - - - 66 . 98 Apr 09 , 17 : 57 67 . 17 - 1 . 44 7034 68 . 61 75341
480 - - - 14 . 98 Apr 09 , 17 : 53 23 . 24 - 1 . 07 - 24 . 31 150 2010 - 10 - 16
500 - - - 12 . 50 Apr 09 , 17 : 57 21 . 85 - 1 . 04 - 22 . 89 400 2010 - 10 - 16
540 - - - 9 . 49 Apr 09 , 17 : 53 19 . 21 - 0 . 96 - 20 . 17 800 2010 - 10 - 16
545 - - - 9 . 29 Apr 09 , 17 : 52 18 . 90 - 0 . 95 - 19 . 85 - 2010 - 10 - 16
550 - - - 10 . 81 Apr 09 , 17 : 54 18 . 58 - 0 . 94 - 19 . 52 705 2010 - 10 - 16
560 - - - 10 . 56 Apr 09 , 17 : 53 17 . 96 - 0 . 92 - 18 . 88 550 2010 - 10 - 16

___________________________________________
& quot ; future - - - 66 . 98 Apr 09 , 17 : 57 67 . 17 - 1 . 44 7034 68 . 61 75341 & quot ;
Means that this particular future contracts last selling price was $ 66 . 98
________________________________________________
The first 2 columns underneath are the price you get to buy the contract at with the option ( the strike price ) and the last price that option sold for -

& quot ; 480 - - - 14 . 98
500 - - - 12 . 50
540 - - - 9 . 49
545 - - - 9 . 29
550 - - - 10 . 81 & quot ;
_____________________________________________

The rest are things like how much the price went up and down ( low and high prices ) and how many open options on that contract have been written .

Hope that helps some .
Cheers
Tek
Tekmnd is offline   Reply With Quote
 
Old 08-04-2010, 07:44 PM   #6 (permalink)
Unregistered
 
Posts: n/a

Thanks Stats
Thanks (Given):
Thanks (Received):

Why the strike prices are so high?


This might be a stupid question ( I ' m very new at this ), but how come the strike prices are way higher than the future price ?

The future price is 66 . 98 and the strike prices start from 480 and above !! How how there are no strike prices close to 66 ?

Thanks
  Reply With Quote
Reply
Reply



Tags
crude oil

Help InformedTrades grow. Click +1 if you enjoyed this thread.

Register to Comment
 
Thread Tools
Thread Tools Search this Thread
Search this Thread:

Advanced Site Search
Display Modes



All times are GMT -5. The time now is 08:37 AM.


Creative Commons License

InformedTrades is dedicated to empowering traders with knowledge. Learn more about our mission statement, and our charity endeavors.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.3.2
vBulletin Optimisation by vB Optimise (Reduced on this page: MySQL 6.12%).
vBCommerce I v2.0.0 Gold ©2010, PixelFX Studios
vBCredits v1.4 Copyright ©2007 - 2008, PixelFX Studios