CBOE Internet Index Options

Symbol:
INX

Underlying:
The CBOE Internet Index is an equal-dollar weighted index composed of companies involved in providing Internet access services, as well as the design and manufacture of software and hardware that facilitates Internet access. The Index is re-balanced quarterly after the close of trading on the third Friday of March, June, September and December.

Index Components

Multiplier:
$100.

Strike Price Intervals:
5 points.

Strike Prices:
In-, at- and out-of-the-money strike prices are initially listed. New series are generally added when the underlying trades through the highest or lowest strike price available.

Premium Quote:
Stated in decimals. One point equals $100. The minimum tick for options trading below 3.00 is 0.05 ($5.00) and for all other series, 0.10 ($10.00).

Expiration Date:
Saturday following the third Friday of the expiration month.

Expiration Months:
Generally, up to three near-term months plus up to three additional months from the March quarterly cycle (March, June, September and December).

Exercise Style:
European - INX options generally may be exercised only on the last business day before expiration.

Last Trading Day:
Trading in INX options will ordinarily cease on the business day (usually a Thursday) preceding the date on which the exercise settlement value is calculated.

Settlement of Option Exercise:
The CBOE Internet Index exercise-settlement value, ITS, is calculated using the first (opening) reported sales price in the primary market of each component stock on the last business day (usually a Friday) before the expiration date. If a stock in the index does not open on the day on which the exercise-settlement value is determined, the last reported sales price in the primary market will be used in calculating the exercise-settlement value. The exercise-settlement amount is equal to the difference between the exercise- settlement value and the exercise price of the option, multiplied by $100. Exercise will result in delivery of cash on the business day following expiration.

Position and Exercise Limits:
The aggregate (INX and INX LEAPS) position and exercise limits are 31,500 contracts on the same side of the market. 10 INX LEAPS are equivalent to 1 full value INX option contract.*

Margin:
Purchases of puts or calls with 9 months or less until expiration must be paid for in full. Writers of uncovered puts or calls must deposit / maintain 100% of the option proceeds* plus 20% of the aggregate contract value (current index level x $100) minus the amount by which the option is out-of-the-money, if any, subject to a minimum for calls of option proceeds* plus 10% of the aggregate contract value and a minimum for puts of option proceeds* plus 10% of the aggregate exercise price amount. (*For calculating maintenance margin, use option current market value instead of option proceeds.) Additional margin may be required pursuant to Exchange Rule 12.10.

Cusip Number:
12483S

Trading Hours:
8:30 a.m. - 3:00 p.m. Central Time (Chicago time).

Position and Exercise limits are subject to change.