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Product Description
The Computer Technology Index is
designed to represent a cross section of widely-held U.S. corporations involved in various
phases of the computer industry. The Index is market-value (capitalization) weighted,
based on the aggregate market value of its 27 component stocks
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Index Components
Components list as of 10/7/03
| The Computer
Technology Index is composed of shares of the following issues: |
| 3com Corp |
COMS |
Intl Bus. Machines |
IBM |
| Advanced Micro Dev |
AMD |
Micron Technology |
MU |
| Adobe Systems |
ADBE |
Microsoft Corp |
MSFT |
| Apple Computer |
AAPL |
Motorola, Inc |
MOT |
| Applied Materials |
AMAT |
Natl Semiconductor |
NSM |
| Automatic Data Proc |
ADP |
Novell Inc |
NOVL |
| Cisco Systems |
CSCO |
Oracle Corp |
ORCL |
| Computer Assoc Intl |
CA |
Palm Inc |
PALM |
| Computer Sciences |
CSC |
Siebel Systems |
SEBL |
| Dell Inc |
DELL |
Silicon Graphics |
SGI |
| Electronic Data Systems |
EDS |
Storage Technology |
STK |
| Emc Corp |
EMC |
Sun Microsystems |
SUNW |
| Gateway Inc |
GTW |
Texas Instruments |
TXN |
| Hewlett-Packard |
HPQ |
Veritas Software |
VRTS |
| Intel Corp |
INTC |
Yahoo Inc |
YHOO |
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Trading Unit
The minimum trade size is one
option contract. The notional value underlying each contract equals $100 multiplied by the
Index value. |
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Expiration Cycle
Three consecutive near-term
expiration months plus two successive months from the January cycle. |
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Expiration
The Saturday following the third
Friday of the expiration month. |
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Last Trading Day
One business day prior to
expiration (normally a Friday). |
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"Delivery" Method if Exercised
American style. Cash settlement
based on the dollar difference between the final settlement value of the Index and the
strike price of the contract multiplied by $100. The Index settlement value is determined
following the close of trading on the day the exercise notice is submitted. |
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Exercise Price Intervals
Exercise (strike) prices are set
at five-point intervals, bracketing the current value of the Index when the Index is above
200. If the Index is below 200, the interval will be 2 ½ points. |
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Option Premium Quotations
Stated in points and fractions.
One point equals $100. Minimum tick for series trading below 3 is 1/16 ($6.25); for all
other series, 1/8 ($12.50). |
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Settlement
Next New York business day
following expiration. |
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Position Limits
12,000 contracts on the same side
of the market. |
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Minimum Customer Margin for Uncovered
Writers
Premium plus 20% of the aggregate
Index value (Index value x $100) reduced by any out-of-the-money amount to a minimum of
premium plus 10% of the aggregate Index value. |
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Trading Hours
9:30 a.m. to 4:02 p.m., New York
time. |
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Trading System
Specialist/Registered Options
Trader. |
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CUSIP Number
031120108 |
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Trading Symbol
XCI |
