How to Read Option Symbols: The Complete Guide
Decode any option symbol in seconds using the OCC standard format
Quick Decode: AAPL251219C00200000
What Is an Option Symbol?
An option symbol is a standardized identifier containing all essential information about an option contract. These symbols follow the Options Clearing Corporation (OCC) format used across all major US trading platforms.
Think of it as a contract's DNA—every character tells you something specific.
The 4 Parts of Every Option Symbol
1. Underlying Asset (1-6 characters)
The ticker symbol of the stock or ETF. Examples: AAPL (Apple), TSLA (Tesla), SPY (S&P 500 ETF).
2. Expiration Date (6 digits: YYMMDD)
The date format is Year-Month-Day:
- 25 = 2025
- 12 = December
- 19 = 19th day
Most equity options expire on the third Friday of the month. Weekly options can expire other days.
3. Option Type (1 character)
- C = Call option (right to BUY at strike price)
- P = Put option (right to SELL at strike price)
4. Strike Price (8 digits)
Divide by 1,000 to get the actual price:
- 00200000 ÷ 1,000 = $200.00
- 00150500 ÷ 1,000 = $150.50
Practice Examples
| Symbol | Stock | Expires | Type | Strike |
|---|---|---|---|---|
MSFT251205P00470000 |
Microsoft | Dec 5, 2025 | Put | $470 |
TSLA250620C00300000 |
Tesla | Jun 20, 2025 | Call | $300 |
SPY241220P00550000 |
S&P 500 ETF | Dec 20, 2024 | Put | $550 |
Common Mistakes to Avoid
- Wrong date format: It's YYMMDD (year first), not MMDDYY
- Forgetting to divide: Strike price must be ÷ 1,000
- Mixing up C and P: Double-check call vs put before trading
Want AI-Powered Options Analysis?
OpPreds analyzes options data to identify potentially interesting contracts—a starting point for your own research.
For informational purposes only. Not financial advice.
Why This Matters
- Prevent errors: Wrong symbol = wrong trade
- Speed: Quickly verify contracts in fast markets
- API usage: Many data providers use raw symbols