Basic option question.

I've also got a basic question. I'm new to option trading and I was looking at a few on the yahoo finance site. For the options of the QQQQ shares, for each strike there are two different options on market. Is one an American and the other an European?

I belive there are only American style options for the Qs. Are you confusing the difference between puts and calls?

All index and ETF options are normally European style (cannot be exercised until expiry). It's possible you could be looking at quotes from different exchanges, but not certain as I don't trade the US market(s).

If you could post up a link we'll have a gander.

Thanks guys for the quick responses. Here's the link, QQQQ: Options for POWERSHARES QQQ TR 1 - Yahoo! Finance.

I see only two different types of options - calls and puts. That's it.

Yes, me too.

Sorry guys, I guess I was not detailed. For the call options of QQQQ, for each of the strike prices between $30 and $60, there exists two types of options. I see now that their spreads are equal for the most part, but what are these two options and why do they exist? This is also the case with the put options.

ie. There's a call option with a strike price of $36 with the symbol QQQLJ.X There's another call option with a strike price of $36 with the symbol UQQLJ.X. Their spreads are equal, their last sold price differs by a bit, their volumes differ but their open interest are relatively close.

The only difference I can see is the expiry dates,
QQQLJ expires on the 21/12/2007
UQQLJ expires on the 27/12/2007