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Ray,
Firstar Bank of Milwaukee recently (February 2001) acquired/merged with US
Bank of Minneapolis (USB), however "U S Bank" was the surviving name
(Firstar had prior mergers/acquisitions with Mercantile Bank of St. Louis
and Star Bank of Cincinnati) likewise US Bank formally of Seattle had prior
mergerd with First Bank of Minneapolis, with U S Bank being the surving name
there also.
The option difference is more likely tied to the recent merger (Firstar and
US Bank). One representing options pre-merger and the other after, since the
acquisition was likely not a 1 for 1 exchange, due to differences in stock
prices the old options would have to be converted to the new merged stock
price and likely given a new symbol (USZ?).
Since USB was the symbol for US Bank prior to the acquisition and looking at
http://finance.yahoo.com/q?s=USB&d=o&q=B ) it would appear USZ represents
"old Firstar stock options". In all cases for the same strike the USZ
options have a much higher value, indicate that in the acquisition, the new
Firstar stock was at a lower price or market cap, if I had to guess?
don ewers
----- Original Message -----
From: "Ray Raffurty" <r.raffurty@xxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>; "'Omega List'" <Omega-list@xxxxxxxxxx>
Sent: Friday, December 14, 2001 8:10 PM
Subject: [RT] Strange options on USB
While scanning for possible option trades I came upon the following list for
U.S. Bancorp. Note that there are two series, each with the same strike and
expiration date, USB and USZ, but with considerably different bid and ask
prices. I suspect that the represent different numbers of shares, perhaps
from a previous split.
Whare can I find out what USZ realy is? I checked with my broker and he
could not tell me (yes, I need a new broker). Also checked the CBOE web
site.
Thanks in advance.
Good luck and good trading,
Ray Raffurty
02 Jan 17.50 (USB AW-E) 2.30 pc 1.60 1.80 0 2224 02 Jan 17.50 (USB
MW-E) 0.25 pc 0.20 0.40 0 6596
02 Jan 17.50 (USZ AW-E) 6.70 pc 6.10 6.70 0 248 02 Jan 17.50 (USZ
MW-E) 0.25 pc 0 0.25 0 94
02 Jan 20.00 (USB AD-E) 0.75 pc 0.25 0.40 0 3934 02 Jan 20.00 (USB
MD-E) 1.45 +0.20 1.45 1.65 10 2202
02 Jan 20.00 (USZ AD-E) 4.10 -0.30 3.50 4.10 3 1224 02 Jan 20.00 (USZ
MD-E) 0.45 pc 0.05 0.30 0 814
02 Jan 22.50 (USB AX-E) 0.05 pc 0.05 0.15 0 1306 02 Jan 22.50 (USB
MX-E) 3.00 pc 3.60 3.90 0 1218
02 Jan 22.50 (USZ AX-E) 1.25 pc 1.55 2.15 0 571 02 Jan 22.50 (USZ
MX-E) 0.30 pc 0.55 0.80 0 203
02 Jan 25.00 (USB AE-E) 0.05 pc 0 0.15 0 7841 02 Jan 25.00 (USB ME-E)
6.80 pc 6.00 6.40 0 3254
02 Jan 25.00 (USZ AE-E) 1.00 pc 0.45 0.70 0 1000 02 Jan 25.00 (USZ
ME-E) 4.00 pc 1.65 2.25 0 1090
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