AMEX OPENS OPTIONS TRADING ON BELMAC CORPORATION AND MGI PHARMA
AMEX OPENS OPTIONS TRADING
ON BELMAC CORPORATION AND MGI PHARMA
NEW YORK, Dec. 30 /PRNewswire/ -- The American Stock Exchange today began trading put and call options on the listed stock of Belmac Corporation (AMEX: BLM) and the over-the-counter stock of MGI Pharma, Inc. (AMEX options symbol: OGQ).
Belmac, headquartered in Tampa, Fla., develops pharmaceutical products to provide nonsurgical medicinal therapies. Based in Minneapolis, MGI Pharma acquires, develops and markets pharmaceuticals prescribed by specialist physicians.
Both BLM and OGQ opened with strike prices of 15, 17-1/2 and 20 and position limits of 3,000 contracts. Belmac options have initial expiration months of January, February, April and July of 1992 while MGI Pharma options are trading with initial expiration months of January, February, March and July of 1992.
The Amex trades a total of 261 stock options including 73 options on OTC stocks. In addition, options are traded on four broad-market indexes -- the Major Market Index (XMI), the XMI LEAPS (sm) Index (XLT), the Institutional Index (XII) and the Japan Index (JPN) -- as well as two industry-based indexes -- the Oil Index (XOI) and the Computer Technology Index (XCI). CAPS -- capped options -- are traded on XMI and XII as well. The Exchange also trades 22 long-term options on leading stocks which have expirations up to almost three years.
/CONTACT: Shelly Wolfe of Amex, 212-306-1641/ CO: Belmac Corporation; MGI Pharma Inc. ST: Florida, Minnesota IN: MTC SU: SM -- NY023 -- 5641 12/30/91 12:21 EST