250percent.com - Strike Price Codes

4: Strike Price Codes

Here are the strike price codes:

Code	Strike Prices
A	$5	$105
B	$10	$110
C	$15	$115
D	$20	$120
E	$25	$125
F	$30	$130
G	$35	$135
H	$40	$140
I	$45	$145
J	$50	$150
K	$55	$155
L	$60	$160
M	$65	$165
N	$70	$170
O	$75	$175
P	$80	$180
Q	$85	$185
R	$90	$190
S	$95	$195
T	$100	$200
U	$7 1/2	$37 1/2
V	$12 1/2	$42 1/2
W	$17 1/2	$47 1/2
X	$22 1/2	$52 1/2
Y	$27 1/2	$57 1/2
Z	$32 1/2	$62 1/2

Whole dollars (codes A through T) repeat every $100. Half dollars (codes U through Z) repeat every $30.

The reason they repeat, besides the fact they ran out of letters in the alphabet, is because it is very unusual for a option series to use strike prices in a range of more than $100. For instance, it would be unusual to see an option series that has a strike price of $20 and $120 (for the same month of expiry). One notable exception is a stock whose price has ascended very rapidly, and over the course of six months has travelled from $20 up to $120. In that case, they would assign it a new options symbol for the higher strikes, until the conflict of strike prices worked itself out.

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