Question regarding options

Non-standard option.  Contract is not for 100 shares of BAC 

Look at the root of the contract, then compare to other months..the root of the symbol is different, so it represents some change, like 90 shares per contract or something..

Thanks for the input guys but I see nothing in the option quotes at yahoo that indicates a difference.

BAC closed at 9.55 and the last trade on July $5 calls was at 3.60. Unless all of the July call option quotes at yahoo are for "non-standard options" I see no distinction in the July $5 calls.

What am I missing here?

 

 

gvk,

You could call a broker and ask about the contract..I looked on Scottrade and they dont have any extra info either.

What I find as odd is that normally when there are strange options, there are OTHER options that are 100 share normal option contracts.

I saw your post and decided to look into it.  I have an account with Scottrade and when I went to purchase a contract it came up with a warning that it was a non-standard contract and that you would need to call them if you wanted to purchase it.

Very educational for me, because I don't deal much with options, and that thought would never had occurred to me.  Sometimes I get pissed with some restrictions Scottrade has (I've had to call to purchase heavily beat down shares before, and you have to wait 4 days to purchase a security under $4 a share when you deposit, etc) but this one is actually a pretty good safeguard to prevent amateurs like myself from doing something stupid