It has been a long time in coming but Google Finance has finally added 'Option Chains' to the list of its features. Stock options are derivative instruments based on stocks with expiration dates. They are used both as insurance against loss and/or speculative trading. Here's the announcement.

Yahoo Finance has had this feature for years and I'm sure many Google (News - Alert) Finance users (myself included) have been eagerly awaiting this new capability.

the option chains for any given stock can be accessed via a link on the left navigation bar when viewing a stock quote on Google Finance.

One thing that remains unclear is whether the options quotes are delayed or real-time. Google Finance stock quotes are in real-time.

Financial markets update

Apple reported blowout numbers last night. The stock is up 3% in what appears to be a relief rally after the recent iPhone (News - Alert) antenna challenges.

Yahoo also reported earnings above forecasts, but revenues came below expectations. That signals that Yahoo is doing a good job on cost containment, but business growth and vitality prospects are dim. The stock is currently down 8%.

Microsoft will release its financial results after the market close tomorrow. The stock is essentially flat as the market awaits the results from the software bellwether.