CBOE TO LIST LEAPS ON McCAW CELLULAR COMMUNICATIONS, INC.
CHICAGO, Oct. 14 /PRNewswire/ -- The Chicago Board Options Exchange (CBOE) on Wednesday, Oct. 20, will list LEAPS(R) (Long-term Equity AnticiPation Securities) on McCaw Cellular Communications, Inc. With this addition, CBOE will list a total of 54 equity LEAPS. McCaw Cellular Communications LEAPS will have an expiration of January 1995 (ticker symbol: VAW) and strike prices of 50, 60 and 70. Equity LEAPS trade in units of 100 shares of stock per contract, are American-style exercise and settle in stock. Trading hours are 8:30 a.m. to 3:10 p.m. Chicago time, the same as other CBOE-listed equity options. Total year-to-date equity LEAPS volume through the end of September reached 1.85 million contracts (which represents 185 million shares of stock). LEAPS were developed and launched by the CBOE in October 1990. CBOE also lists long-term index options: OEX LEAPS and SPX LEAPS, based on 1/10th the value of the S&P 100 and S&P 500 stock indexes, respectively; and Russell 2000(R) LEAPS and CBOE BioTech LEAPS, also based on 1/10th the value of their respective underlying indexes. CBOE, regulated by the Securities and Exchange Commission (SEC), is the pioneer of listed options and the world's largest options marketplace. -0- 10/14/93 /CONTACT: Stan Lata, 312-786-7392, or Bonnie Greenberg, 312-786-7393, both of CBOE/ (MCAWA)
CO: Chicago Board Options Exchange; McCaw Cellular Communications, Inc. ST: Illinois IN: TLS SU:
MP -- NY085 -- 2422 10/14/93 16:28 EDT