AMEX TO BEGIN TRADING OPTIONS ON GRAND CASINOS, INC. & DEAN WITTER, DISCOVER & CO.
NEW YORK, May 25 /PRNewswire/ -- The American Stock Exchange today said it would open put and call options trading on the over-the-counter stock of Grand Casinos, Inc. (options symbol: "GRQ") and the listed stock of Dean Witter, Discover & Co. (ticker symbol: "DWD") on Tuesday, June 1. Headquartered in Plymouth, Minn., Grand Casinos develops, owns and manages a series of casinos across the Midwest. GRQ will open with strike prices of 40, 45 and 50 and position limits of 8,000 contracts. Initial expiration months will be June, July, August and November of 1993. Miceli-Van Caneghan & Co. Inc. will be the specialist unit for the new options. Dean Witter, Discover, of New York, is a financial service organization that provides a broad range of nationally marketed credit services and investment products. Credit services consist mainly of the issuance, marketing and servicing of the Discover Card. The company's securities business is conducted through Dean Witter Reynolds Inc. DWD will open with strike prices of 30, 35 and 40 and position limits of 8,000 contracts. Initial expiration months will be June, July and October of 1993 and January of 1994. Kalb, Voorhis/Cranmer & Cranmer will be the specialist unit for the new options. The Amex trades a total of 323 stock options, including 86 options on over-the-counter stocks, as well as 42 LEAPS(tm) (Long-term Equity AnticiPation Securities). In addition, options are traded on six broad- market indexes -- the Major Market Index (XMI), the XMI LEAPS(tm) Index (XLT), the S&P MidCap 400 Index (MID), the Institutional Index (XII), the Japan Index (JPN) and the EUROTOP 100 Index (EUR) -- as well as five industry based indexes-- the Oil Index (XOI), the Computer Technology Index (XCI), the Pharmaceutical Index (DRG), the DRG LEAPS(tm) Index (DGL) and The Biotechnology Index (BTK). -0- 5/25/93 /CONTACT: Kathleen Fitzpatrick, manager, derivative securities communications of American Stock Exchange, 212-306-1697/
CO: American Stock Exchange ST: New York IN: SU:
SM -- NY022 -- 1989 05/25/93 08:29 EDT
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|Date:||May 25, 1993|
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