Stock Option Symbols
StockMarketEye can track stock option prices using the option symbols from Yahoo! Finance. You can include options in your portfolios or watchlists.
Stock options symbols are not available via the built-in symbol search. You can, however, find option symbols on the Yahoo! Finance website in 2 places:
- Via the “Options” link on the company specific page.
- Via the Yahoo! Options Center
Once you’ve found the options page for a particular stock, you can use the “Symbol” column directly in a StockMarketEye watchlist or portfolio. Examples of option symbols from the image below are:
You can track option contracts in your portfolio. The following steps should help get you started.
- Find the stock option symbol on Yahoo Finance. Follow the section above for more details.
- You should now have the option symbol you’re interested in. For example, the January 2012 Put option for Johnson & Johnson (JNJ) at a strike price of $65 is:
- Open StockMarketEye and select the portfolio where you want to record the stock option.
- Click on the “Buy Stock” button. This will open a new window called “Buy or Short-sell a stock”.
- Paste the option symbol into the “Symbol” field.
- Select the date you purchased the option in the “Date Added” calendar. Select the “Trade Type” as “Buy”.
- “Number of shares” – Yahoo Finance, like most financial websites, reports option prices for individual options. However, options are normally sold in lots of 100. So the value of one option lot is the option’s price (as reported by Yahoo Finance) times 100. For example, 1 lot (100 options) priced at 0.52 of the above mentioned JNJ Put option would be worth: 0.52 * 100 = $52. If you had 5 lots, they would be worth (0.52 * 5 * 100) = $260. Note that the number of shares controlled by one option lot is 100 for standard options. However, for “mini” option contracts, there are only 10 shares associated with the lot. In the Yahoo ticker symbol, a mini-option contract is denoted by a “7” just after the ticker symbol. For example, AAPL140606C00615000, is a normal option ticker symbol. But AAPL7140606C00615000 (note the “7” directly after AAPL) is a mini-option. When using StockMarketEye, what this means is that when entering the “Number of Shares”, you should multiply the number of lots you purchased by the number of shares controlled by that lot. If you have a normal option, multiply by 100. If you’re using a mini-option, multiple by 10. For example, say you bought 5 normal JNJ Put options, you would then enter 500 shares (5 x 100) in the “Number of Shares” field.
- “Buy Price” – The buy price should be the price of an individual option, not the price of the entire lot. If you only have the total price you paid, you can first divide it by the number of lots, then divide it by the number of shares controlled by the lot (100 or 10) to get the individual option price. For example: if you bought 5 normal lots of the JNJ Put option for $250, you can divide that by 5 to get the amount for one lot, then divide that by 100 to get the price for one option. 250 / 5 / 100 = 0.5
- Enter any transaction costs or fees associated with this option’s purchase in the “Transaction Costs” field. If the costs of this purchase should be deducted from the portfolio’s cash balance, check the “Update the cash balance” box.
- Click “OK” to add the option holding to your portfolio. Now, when StockMarketEye updates the prices for the items in your Portfolio, the value of the option contract will also be updated and you’ll see the exact value of your option holdings.
To track option prices in a watchlist, simply copy-paste the option symbol from the Yahoo! Finance web page into the “Watchlist Symbol Details” window as shown below.