Word: option
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Dates: during 1970-1979
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...sorry," came back Ford, "I disagree with you . . . we've looked at every possible option. They were piled high . . . we were on the threshold of disaster . . . we have got to have action...
Playing the options market can be tricky, but it does offer several advantages to the small investor with limited assets. Like speculators in wheat, corn or gold futures on the commodities exchanges, an investor dealing in options buys a contract (the option) guaranteeing him the right to the purchase of 100 shares of a common stock at an agreed-upon price any time within three, six or nine months. While the Federal Reserve Board requires those who buy stock directly to put up at least 50% of its cost in cash at the time of purchase, the option trader need...
...stock for which the investor holds an option jumps in value, he can then buy the shares at the prearranged rate, resell them at the higher market price and, after subtracting the option premium and usual broker's selling commission, perhaps turn a profit. Or he can sell the option itself at a higher price and take a capital gain without even buying the stock. If the shares drop in value, the investor can choose not to buy them; in this case his loss is limited to his original investment in the option...
...Amex is currently handling options trading in the shares of 13 companies, among them Du Pont, Union Carbide and U.S. Steel; it plans to increase its list to 20 stocks before long. Early investor interest was high, and Amex officials hope to do at least as well with options as the Chicago Board Options Exchange. C.B.O.E. members now collect commissions on an average daily volume of 40,000 option sales. Partly as a result, the price of seats on the C.B.O.E. has jumped from $10,000 to $40,000 in just 21 months...
...What skier last month called gasoline taxes"about as dead an option as anything I know...