Italics and Quotation Marks

Q. If a word is used as a word but presented in all caps (or small caps), should it still be italicized or set in quotation marks (per CMOS 7.66)? For example: Fill in the squares with the letters that spell out BINGO. Or: Fill in the squares with the letters B, I, N, G, and O. In the latter case, the letters would be italicized. But putting the letters and the word in all caps and also italicizing them feels like overkill to me. It looks hideous. HELP!

A. Don’t worry, your editorial instincts align with ours. Capital letters, like italics and quotation marks, are very good at distinguishing a letter, word, or phrase from its surroundings. So unless you’re quoting from a specific source, please feel free to refer to the letters in bingo exactly as you’ve done in your question (both individually and when combined to form a word). Such an exception would be similar to the ones for the letter grades A–F (see CMOS 7.68) and the expression “the three R’s” (note the apostrophe; see 7.15 in the 18th ed. of CMOS).

[This answer relies on the 18th edition of CMOS (2024) unless otherwise noted.]