TD AMERITRADE Option Symbology

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Due to changes being implemented by the Options Clearing Corporation, TD AMERITRADE introduced a more detailed format for option symbols designed to make identifying contracts easier than ever.
 
The new symbol
The traditional three- to five-character option symbol is being replaced by a new longer symbol that includes the expiration, strike price and option type. For example, here's how a WXY Company call option with a $135 strike price and expiration date of July 17, 2010, would appear under the old and new formats:

 

Old format:
+WXYGG
 
New format:

WXY

Jul 17 2010

135.0

Call

Root Symbol

Expiration

Strike Price

Call/Put

 

Will be displayed as:

WXY Jul 17 2010 135.0 Call

 

How this benefits you

The new longer format will replace the old option symbols throughout QuoteTracker. Options traders will get a clearer description of the options contract terms. Researching and trading options will be simpler, because you won't have to remember any option symbols; simply enter the underlying security symbol and click the option chain to retrieve the contract information.
 
Key feature and updates include:

•Option Chain – the option symbols will no longer be displayed. The symbol is implied by the strike price and expiration of the row showing the quote for the option. You can drag any row in the option chain to other areas in QuoteTracker. For example, drag/drop the row from the option chain on the portfolio to add that option to the portfolio. or on Level II window to see the Market Depth for the option 
•Portfolio Editor and Add Symbols window – there is now a small Option Chain button will be displayed next to each editable symbol row. In order to add an option to the portfolio, just click on the button and select the option you want from the dropdown list.
•Trade Ticket – You can no longer type in the symbol fields directly.  Simply click on the small Option Chain button next to the symbol field to see an option chain. Enter the underlying symbol and select the expiration date for the option, then click on the available option that you wish to trade. QuoteTracker will then enter that option into the symbol field for you.
•All other areas where option symbols can be entered now also have the Option Chain button Displayed next to the symbol field. Click on this button to bring up the Option Chain selector, which can then be used to select the option you are interested in: