When I look at CBOE options charts at the following site, what does it mean if the option is shaded?

Question

Is this an indication of being out of the money? Would in the money be just a white background? Why would some stocks not have any options listed?

http://delayedquotes.cboe.com/options/options_chain.html?ASSET_CLASS=STO&ID_OSI=210342&ID_NOTATION=6628172

Answer 1

As the first answer indicated, the in the money options have a shaded background, the out of the money options have a white background.

The exchanges have listing requierments. From a CBOE FAQ page:

"Are there requirements a company must satisfy before it is allowed to trade options on its own stock?

Among the requirements a company must satisfy is “distribution”. There must be a certain number of outstanding shares, and the shares must be owned by a minimum number of people. Otherwise, ownership of the stock is deemed “too highly concentrated”. The NYSE and NASDAQ also have listing requirements.

Although CBOE has staff that is constantly reviewing stocks that are candidates for listing, it is possible that a stock has been overlooked. If you feel this might be the case, you can suggest it. Just visit the Contact CBOE page and send your request to 'New Option Listing Requests" within the "Product Listings & Trading Inquiries' drop-down menu."

Another article notes that "Exchanges tend to list options on stocks with high trading volume, volatility, and market capitalization."

There is also a minimum share price required.

Some other listing requirements for options are discussed on the SEC site:

"Current options listing standards typically require that, before listing an options contract, the security underlying such option must be: (1) registered under Section 12 of the Exchange Act;2 (2) listed on a national securities exchange, or traded through a national securities association and reported as a national market system (NMS) security; and (3) characterized by a substantial number of outstanding shares that are widely held and actively traded. In addition, the initial listing standards evaluate the securities underlying the options by looking at factors such as the number of outstanding shares, the number of holders, the trading volume, and the price of the underlying security. Moreover, the options listing standards take into account whether the underlying security being considered for options approval is an ADR, a security issued in a restructuring transaction (e.g., in a spin-off, reorganization, recapitalization, or similar transaction), or one of certain other specified securities."

Answer 2

Yes, in the money options are with a white background.

There's only about 20% of listed stocks that trade options. There's just not enough open interest in the other's for options to be offered.
///

Answer 3

Read the legend; it says that shaded areas indicate the option being in the money.

Why would some stocks not have any options listed? Because no one wants to trade them.