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Subject: [OASIS Issue Tracker] Commented: (EMIX-396) Clarify Option Writer



    [ http://tools.oasis-open.org/issues/browse/EMIX-396?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=25872#action_25872 ] 

Anne Hendry  commented on EMIX-396:
-----------------------------------

(Comment now refers to wd28 which has same problem.)

Requires further input.

There is a 'SideType', which is an enumeration of 'buy' and 'sell' values.
There is an 'optionHolderSide' which is of type 'SideType', so presumably can take on a 'buy' or 'sell' value.

OptionHolder is defined in table 10-2 line 788.

The term 'option writer' is used several times in the spec as the 'other side' of an option transaction that is not the 'optionHolderSide' but it is never defined and as far as I can tell, is never used other than in definitions:
line 452, Table 4-3
line 788, Table 10-2 (2x)

This is somewhat lop sided.  Either change 'optionHolderSide' to 'optionSide' creating an 'optionSideType' with 'holder' and 'writer' as enumerations, as with SideType 'buy' and 'sell' ...
or
create 'holderSide' and 'writerSide' as types of OptionSideType, using 'SideType'' as the base for both ....
or
change 'optionHolderSide' to 'OptionSide' and continue to use SideType buy/sell, removing the need to define the 'holder' or 'writer' enumeration ...
or
continue to use SideType to designate the two sides of an option transaction so you don't need to have two different enumerations to designate these and create 'optionSide' which would be of SideType (buy/sell) not using 'holder/writer'.

If you trace the structures down as it is currently one does end up with 'holder' being able to be 'buyer' or seller'.  It's assumed that if there is a 'holder', there is somewhere a 'writer', so if we are defining one, we should define the other, if for no other reason than completeness, or else agree optionSide is enough.

Also, the element names in table 10-2 don't match the element names in table 4-3 and the elements in the diagram above table 4-3 does not match the ones in table 4-3, so need alignment.

Also  OptionHolder is defined in table 10-2 with the same definition as 'OptionHolderSide' in table 4-3.

The current structures in both spec and schema are suspect as they stand right now.


> Clarify Option Writer
> ---------------------
>
>                 Key: EMIX-396
>                 URL: http://tools.oasis-open.org/issues/browse/EMIX-396
>             Project: OASIS Energy Market Information Exchange (eMIX) TC
>          Issue Type: Improvement
>          Components: spec
>    Affects Versions: csprd02 Public Review Draft
>         Environment: Sharon Dinges
>            Reporter: Toby Considine
>            Assignee: Anne Hendry 
>
> Subject: [emix] Comments on emix-v1.0-csprd02
> From: "Dinges, Sharon" <sdinges@trane.com>
> Date: Fri, 20 May 2011 14:42:29 +0000
> 792: Strike Price: - where is "Option Writer" defined? 
> Ed.
> (1057 - table 11)
> ***
> Also mentioned in Option Holder element definition.
> Either need to stop referring to 'Option Writer'
> (find other term to refer to other side) or define it.
> If it's not needed as an element in the schema, then delete?
> Otherwise add to schema.

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