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AMEX OPENS OPTIONS TRADING ON THE ALLEN GROUP INC.

 NEW YORK, Dec. 10 /PRNewswire/ -- The American Stock Exchange today began trading options on the listed stock of The Allen Group Inc. (stock/option symbol: ALN).
 The Allen Group, based in Beachwood, Ohio, manufactures truck components, mobile communications antennas and accessories, and products designed to enhance cellular telephone systems. The company in mid-1993 divested itself of its auto test and service equipment unit which manufactured diagnostic and emissions test equipment.
 ALN opened with strike prices of 17-1/2, 22 and 22-1/2, and a position limit of 5,500 contracts. Initial expiration months are January, February, March and June of 1994. Highland Securities is the specialist unit for the new options.
 The Amex trades a total of 360 stock options, including 103 options on over-the-counter stocks, as well as 44 LEAPS(R). In addition, options are traded on eight broad market indexes -- the Major Market Index (XMI), the XMI LEAPS(R) Index (XLT), the S&P Midcap 400 Index and MidCap LEAPS(R) (MID), the Institutional Index (XII), the Japan Index (JPN), the EUROTOP 100 Index (EUR) and the Morgan Stanley Cyclical (CYC) and Consumer (CMR) Indexes -- as well as seven industry-based indices -- the Oil Index (XOI), the Computer Technology Index (XCI), The Pharmaceutical Index (DRG), the DRG LEAPS(R) Index (DGL), The Biotechnology Index (BTK), the BTK LEAPS(R) Index (BKL), and The North American Telecommunications Index (XTC).
 -0- 12/10/93
 /CONTACT: Kathleen Fitzpatrick, manager - derivative securities communications of American Stock Exchange, 212-306-1697/
 (ALN)


CO: The Allen Group, Inc. ST: Ohio IN: TLS SU:

MP -- NY045 -- 2618 12/10/93 12:11 EST
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Publication:PR Newswire
Date:Dec 10, 1993
Words:265
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