The American Stock Exchange opened put and call options Wednesday on Burlington Industries stock.
Call options are rights to buy shares at a predetermined price before a deadline, acquired in exchange for a premium. Put options grant the right to sell a specific number of shares at a set price by a certain date. Put option buyers also pay an option premium.Burlington's strike, or exercise, prices opened at $10, $12 1/2 and $15 and position limits of 5,500 contracts.
A position limit is the maximum number of options contracts that can be owned or controlled.
The American Stock Exchange trades 279 stock options.