Explanation required of ASX Historical options data

[markosx]

Good afternoon,

I am new to this forum and trading in general and am hoping someone can provide a clear explanation of the ASX Historical options data reports available here: http://www.asx.com.au/products/options/trading_information/historical_data.htm

They appear to have multiple entries for a number of Equities, for example in the June 08 report ANZ has:
ANZ
ANZ*
ANZL

The report states that the * listings are "long term options"

I have two questions.
1. How is "long term option" defined i.e xx Months?
2. What are the xxxL series (i.e ANZL) and how are they different to the just plain ANZ series?

I'm sure its obvious but I can't figure it out myself. Any help would be appreciated.

 

[Richard Dale]

I am new to this forum and trading in general and am hoping someone can provide a clear explanation of the ASX Historical options data reports available here: http://www.asx.com.au/products/options/trading_information/historical_data.htm

They appear to have multiple entries for a number of Equities, for example in the June 08 report ANZ has:
ANZ
ANZ*
ANZL

The report states that the * listings are "long term options"

I have two questions.
1. How is "long term option" defined i.e xx Months?
2. What are the xxxL series (i.e ANZL) and how are they different to the just plain ANZ series?

1. Long term options typically mean those outside a 12 window. ANZ is on Mar, June, Sep, Dec schedule, so anything beyond June 2009 would considered to be "long dated". All expiries beyond 12 months (and some interstitials before) would also be considered to be "Flex" options which means no market maker obligations apply.
2. The L consists of LEPOs which are Low Exercise Priced Options (i.e. strike price of $0.01. eg. ANZG6 expiry date 28 Aug 2008, strike price $0.01, or ABZQ6, expiry 25 Sep 2008 strike price $0.01). See http://www.asx.com.au/products/options/lepos.htm for more info on LEPOs.