I am trying to learn how to trade in options. I am already familiar with the technical details but I'm not sure how to read online quotes. Suppose I see an option's offer price quoted as "33.5" on the LIFFE website. How much do I end up paying for one option contract? Is it GBP 335 (33.5p x 1000)?
In other words, am I correct that the price is in pence and the multiplier is 1000?
Thanks
Bruno