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AMEX'S PHARMACEUTICAL INDEX OPTIONS 'DRG' OFF TO STEADY START; OPEN INTEREST EXCEEDS 5,000 CONTRACTS

 AMEX'S PHARMACEUTICAL INDEX OPTIONS 'DRG' OFF TO STEADY START;
 OPEN INTEREST EXCEEDS 5,000 CONTRACTS
 NEW YORK, July 16 /PRNewswire/ -- The American Stock Exchange today said that open interest in its new Pharamaceutical Index options has surpassed 5,000 contracts in its first 12 days of trading, reaching a total of 5,805 contracts. The open interest includes 2685 calls and 3120 puts.
 Open interest is the total number of currently outstanding contracts in an option. A high number indicates a substantial amount of investor participation.
 Developed by the Amex, The Pharmaceutical Index is designed to measure the overall performance of this global industry and is comprised of 15 of the leading pharmaceutical companies in the U.S. and abroad. Options on the Index began trading on June 26.
 According to Amex Specialist Thomas Peters of Susquehanna Investment Group, the specialist unit for the new options, DRG options provide an opportunity for investors to act on an opinion of the high-performing pharmaceutical industry as a whole.
 -0- 7/16/92
 /CONTACT: Kathleen Fitzpatrick of AMEX, 212-306-1697/ CO: American Stock Exchange ST: New York IN: FIN SU:


KD -- NY080 -- 9810 07/16/92 13:38 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
Words:195
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