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ConocoPhillips Message Board

  • OUTLAW_JOSEY_DELLS OUTLAW_JOSEY_DELLS May 17, 2012 2:07 PM Flag

    Options on COP

    Anyone here trade options on COP ? I have been looking to sell some covered calls on COP and the prices seem strange.
    For instance a JUN 67.50 call is selling at 2.20 and 4.55, is one of the options pre-adjusted for the spinoff or something ? I wouldnt mind selling either one and pocketing the cash, but the 4.55 seems too good to be true.

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    • yes, because of the spinoff, there are now two kinds of options on COP. the conventional COP options reflect 100 shares of COP per contract.

      The "nonstandard" options, which will be marked by a "NS" symbol in most options quote chains reflect 100 COP and 50 PSX shares per contract.

 
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