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intelliot
Site Admin
Joined: 01 May 2004
18653.45 GC$
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 Posted: Thu Aug 26, 2004 9:19 pm Post subject: Google Options to Debut on Friday |
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| Quote: | CHICAGO (Reuters) - Options on Google Inc. (GOOG.O: Quote, Profile, Research) this year's hottest new stock, will debut on U.S. options exchanges on Friday under a new streamlined listing procedure.
"The public should be excited that instead of having to wait three months or longer for options to be available for a newly listed stock, the wait in this case is only seven days," said Steve Braverman, managing director of Tahoe Advisers, a specialized derivatives consulting firm.
The listing of Google options came after shares in Google, the world's largest Internet search engine, made their Nasdaq stock debut on Aug. 19.
"The ink is barely dry on the Google stock certificate and now we are ready to trade options," Braverman said. "Because of the shortened listing period, I expect them to be quite active. Google is still the talk of the town."
In the past, a newly listed stock had to trade for months before options could be offered on it. But Google options will premier under new rules that have shortened that waiting period as early as seven days after a stock launch if it meets the listing criteria devised by the exchanges.
The Chicago Board Options Exchange, one of the two largest U.S. equity options exchanges, was the first to announce last week it would offer options on Google on Aug. 27 pending satisfaction of initial listing criteria.
The American Stock Exchange, the Philadelphia Stock Exchange, the Pacific Exchange and the all-electronic International Securities Exchange then said they would also list the options on Aug. 27.
The Boston Options Exchange, the newest entrant in the crowded U.S options market, said it would list Google options on Monday.
On Thursday, the Amex said its Google Inc. Class A options will open with strike prices of 80 to 140 in 5-point intervals and position limits of 3,150,000 shares.
Google shares ended up $1.91 or 1.8 percent at $107.91 on the Nasdaq on Thursday, up from its Aug. 19 close of $100.34.
"I expect Google options to be active because of the volatility and the actual interest in what is basically one of the hottest initial public offerings this year," said Scott Fullman, chief strategist with Investec (US) Inc.
Investors can use equity options -- which give the right to buy or sell a stock at a predetermined price within a set time period -- to hedge or speculate on the direction of the underlying stock at a lower cost than owning the shares. |
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mike
Junior Googler
Joined: 24 Aug 2004
224.87 GC$
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| Posted: Thu Aug 26, 2004 11:39 pm Post subject: |
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| i'm not buying in. its too risky, and in my humble opinion it is extremly high priced for what it is! I have a feeling the prices will drop. Just my 2c |
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