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Thursday, March 27, 2014

Options Trader Alert #2014 - 8
Google Inc. (GOOG) Options Adjustment and New Google Option Listings

Category:

  • Action Required
  • Industry Announcement

Markets Impacted:

Contact Information:

Resources:

Effective Thursday, April 3, 2014, Google Inc. (GOOG) will distribute one share of Class C for each Class A share. Concurrently, the stock symbol for existing Class A shares will change from GOOG to GOOGL. The stock symbol for the new Class C shares will be GOOG.

Overview of Changes

Effective at the opening of business on Thursday, April 3, 2014, the current GOOG options will be adjusted as follows:

Current
Symbol		 Adjusted
Symbol		 Deliverable for
Adjusted Symbol
Standard Options GOOG GOLG1 100 GOOGL + 100 GOOG
Flex Options 2GOOG 2GOLG1 100 GOOGL + 100 GOOG
Mini Options GOOG7 GOLG8 10 GOOGL + 10 GOOG

For further information regarding the option adjustment for the distribution, please consult the Options Clearing Corporation (OCC) Memo #34316.

Effective on Thursday, April 3, 2014, PHLX, NOM and BX Options will list options on the new Google Inc. Class A shares (GOOGL). The symbols for these options will be as follows:

Standard Option Symbol – GOOGL
Flex Option Symbol – 2GOOGL

Effective on Friday, April 4, 2014, PHLX, NOM and BX Options will list options on the new Google Inc. Class C shares (GOOG). The symbols for these options will be as follows:

Standard Option Symbol – GOOG
Flex Option Symbol – 2GOOG

NOTE: PHLX, NOM & BX Options do not plan to list Mini Options on either of the new classes of Google Inc. stock.

Action Required

All Good-Till-Canceled (GTC) orders will be canceled by NASDAQ Market Operations after the close of business on Wednesday, April 2, 2014.

If you are currently permissioned to trade GOOG on PHLX, NOM and BX Options prior to the corporate action on Thursday, April 3, 2014, you will remain permissioned in the Class A shares, as it switches its symbol to GOOGL.

If you wish to be permissioned to trade the Class C shares on PHLX, NOM and BX Options under the symbol GOOG on Friday, April 4, 2014, a request must be made to NASDAQ Market Operations by April 3, 2014.


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