Options are said to be of the same class if they have the same attributes listed below:
- Type (ie. Call or Put)
- Underlying Security
- Style
- Contract Size
One need to know how to refer to a class of options as many of the more complex options strategies involve having multiple positions in options of the same class.
Class versus series
A class groups related options of the same type on the same underlying; exchange terminology and adjusted contract terms should be checked. A series identifies a particular expiration and strike within that class. Two calls can belong to the same class while having different strikes or expiration dates. Before combining legs, also confirm exercise style, multiplier and deliverable.
