How to Read Option Symbols: The Complete Guide

Decode any option symbol in seconds using the OCC standard format.

Quick Summary

Option symbols follow the OCC (Options Clearing Corporation) format. Each symbol contains four pieces of information: the ticker, expiration date, option type, and strike price. Think of it as a contract's DNA—every character tells you something specific.

QUICK DECODE EXAMPLE

AAPL251219C00200000

AAPL

Ticker

251219

Dec 19, 2025

Call Option

00200000

$200 Strike

The 4 Parts of Every Option Symbol

Underlying Asset (1-6 characters)

The ticker symbol of the stock or ETF. This is the same symbol you'd use to look up the stock.

Examples: AAPL (Apple), TSLA (Tesla), SPY (S&P 500 ETF), MSFT (Microsoft)

Expiration Date (6 digits: YYMMDD)

The date format is Year-Month-Day, which is different from the common US format:

25 = 2025 (Year)
12 = December (Month)
19 = 19th day

Note: Most equity options expire on the third Friday of the month. Weekly options can expire other days.

Option Type (1 character)

A single letter that tells you whether it's a call or put:

C = Call option (right to BUY at strike price)
P = Put option (right to SELL at strike price)

Strike Price (8 digits)

Divide by 1,000 to get the actual price. The 8-digit format allows for fractional strikes:

00200000 ÷ 1,000 = $200.00
00150500 ÷ 1,000 = $150.50
00007500 ÷ 1,000 = $7.50

Practice Examples

Test your skills with these real-world option symbols:

Symbol	Stock	Expires	Type	Strike
`MSFT261205P00470000`	Microsoft	Dec 5, 2026	Put	$470
`TSLA260620C00300000`	Tesla	Jun 20, 2026	Call	$300
`SPY261218P00550000`	S&P 500 ETF	Dec 18, 2026	Put	$550
`NVDA260717C00150000`	Nvidia	Jul 17, 2026	Call	$150

Common Mistakes to Avoid

Don't Make These Errors

Wrong date format: It's YYMMDD (year first), not MMDDYY or DD/MM/YY
Forgetting to divide: Strike price must be ÷ 1,000
Mixing up C and P: Double-check call vs put before trading—wrong type = opposite bet
Confusing expiration: 260115 is January 15, 2026—not the 26th of January

Frequently Asked Questions

This symbol represents an Apple (AAPL) call option (C) expiring December 19, 2025 (251219) with a strike price of $200 (00200000 ÷ 1000). The OCC standard format combines ticker, date, type, and strike into one standardized identifier.

The expiration date uses YYMMDD format (6 digits). For example, 251219 means December (12) 19th, 2025 (25). This Year-Month-Day format differs from the common US date format of MM/DD/YY.

Take the last 8 digits and divide by 1,000. For example, 00200000 ÷ 1,000 = $200.00 strike price. The 8-digit format allows for fractional strikes like 00150500 = $150.50.

C stands for Call option (the right to buy shares at the strike price), and P stands for Put option (the right to sell shares at the strike price). This single character appears after the expiration date in the symbol.

Understanding option symbols prevents costly trading errors. In fast-moving markets, you need to quickly verify the correct expiration, strike, and type. Many data APIs and trading platforms use these standardized symbols, so fluency helps with both manual trading and automated systems.

Summary

Option symbols follow a standardized format that tells you everything about a contract at a glance.

Key Takeaways

Ticker (1-6 chars): The underlying stock or ETF symbol
Date (YYMMDD): Year-Month-Day format for expiration
Type (C or P): Call = right to buy, Put = right to sell
Strike (÷1000): Divide the 8 digits by 1,000 for the price

How to Read Option Symbols: The Complete Guide

Quick Summary

The 4 Parts of Every Option Symbol

Practice Examples

Common Mistakes to Avoid

Frequently Asked Questions

Summary

Continue Learning Options Basics

Try Our AI-Powered Apps

Quick Summary

The 4 Parts of Every Option Symbol

Practice Examples

Common Mistakes to Avoid

Frequently Asked Questions

What does an option symbol like AAPL251219C00200000 mean?

How do I read the expiration date in an option symbol?

How do I calculate the strike price from an option symbol?

What do C and P mean in an option symbol?

Why is understanding option symbols important?

Summary

Continue Learning Options Basics

Try Our AI-Powered Apps