What's a WRAP?

K

kperrin

When looking at the options for various gold mining companies I notice that some have the term WRAP appended. Also the ticker for these changes. For example AEM for Agnico Eagle becomes AEY and the option is called a WRAP. What does this mean?
 
I can recommend the Subway Wraps, they are very good.


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Quote from kperrin:

When looking at the options for various gold mining companies I notice that some have the term WRAP appended. Also the ticker for these changes. For example AEM for Agnico Eagle becomes AEY and the option is called a WRAP. What does this mean?
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Can you provide a link? I've never heard of WRAP, nor can I see anything "wrong" with AEM options.
 
When looking up a November 08 $36.00 Call for Agnico Eagle (AEM) on E*Trade the listing comes up like this: "Agnico-Eagle Mines Ltd WRAP AEY.KO Option" Note that the ticker "AEM" has changed to "AEY" and the word "WRAP" appears
 
Quote from kperrin:

When looking up a November 08 $36.00 Call for Agnico Eagle (AEM) on E*Trade the listing comes up like this: "Agnico-Eagle Mines Ltd WRAP AEY.KO Option" Note that the ticker "AEM" has changed to "AEY" and the word "WRAP" appears
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There's no 36 call, unless you meant 35, but even then I see no symbol change, no adjusted contracts or WRAP anywhere. I've checked on Bloomberg terminal and Thinkorswim. I don't know where that's coming from. I suggest you ask Etrade.
 
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