CBOE Exchange and Regulatory Bulletin - CBOE.com

May 18, 2001 Volume 29, Number 20 

Exchange 

Bulletin 

The Constitution and Rules of the Chicago Board Options Exchange, Incorporated (“Exchange”), in certain specific instances, 

require the Exchange to provide notice to the Exchange membership. To satisfy this requirement, a complimentary copy of the 

Exchange Bulletin, including the Regulatory Bulletin, is delivered to all effective members on a weekly basis. 

Additional subscriptions may be obtained by submitting your name, firm, mailing address, e-mail address and telephone 

number to: Chicago Board Options Exchange, Accounting Department, 400 South LaSalle, Chicago, Illinois 60605, Attention: 

Bulletin Subscriptions. The cost of an annual subscription (July 1 through June 30) is $200 ($100 after January 1) for hard copy 

delivery or $100 ($50 after January 1) for e-mail delivery, payable in advance. Non-members are welcome to subscribe. 

It’s easy to stay informed about issues at CBOE! CBOE Members can now receive informational and news notices via-mail or 

fax. To sign up, simply e-mail your name and desired e-mail address or fax number to: luzzi@cboe.com or contact Doug Luzzi 

at 312-786-7105. 

Members are required to report any address or telephone number changes to the Membership Department at (312) 786-7449 

pursuant to Exchange Rule 3.7(b). For Seat Market Quotes, call (312) 786-7456. 

SEAT MARKET QUOTES AS OF FRIDAY, MAY 11, 2001 

CLASS BID OFFER LAST SALE AMOUNT LAST SALE DATE 

CBOE/FULL $335,000.00 $360,000.00 $340,000.00 May 2, 2001 

CBOE/OTP No Bid $100,000.00 $45,000.00 February 28, 2001 

CBOT/FULL $335,000.00 $350,000.00 $335,000.00 May 5, 2001 

OPTION TRADING PERMIT LEASE POOL AS OF MAY 11, 2001 

Highest Bid: No Bid Highest Monthly Rate: $1,200.00 

OTP’s Available: Two Lowest Monthly Rate: $1,200.00 

Last Least: $1,200.00 on May 9, 2001 

MEMBERSHIP SALES AND TRANSFERS 

From To Price/Transfer Date 

Cole, Roesler Trading Group, L.P Larkspur Securities, Inc. $335,000.00 05/04/01 

INFORMATION CIRCULARS 

Information Circular IC01-67 

DATE: May 9, 2001 

TO: Membership 

FROM: Special Product Assignment Committee 

RE: Allocation of HOLDRs 

On May 7, 2001, the Special Product Assignment Committee determined pursuant to Exchange Rule 8.95 to allocate the products listed 

below to the following DPMs: 

CLASS SYMBOL DPM LOCATION 

1. Retail HOLDRs Trust RTH Botta Trading-Lacerta DPM P2 S9 

2. Software HOLDRs Trust SWH LIR Group L.L.C. P11 S10 

3. Wireless HOLDRs Trust WMH Timber Hill, L.L.C. P4 S6 

Stay informed about issues at CBOE! Sign up today to receive informational and news notices via e-mail or fax. E-mail your name, firm (if 

applicable) and desired e-mail address or fax number to: members@cboe.com or contact Doug Luzzi at 312-786-7105.

Page 2 May 18, 2001 Volume 29, Number 20 Chicago Board Options Exchange 

Information Circular IC01-68 

DATE: May 9, 2001 

TO: Membership 

FROM: Allocation Committee 

RE: Allocation of Option Classes 

On May 7, 2001, the Allocation Committee determined pursuant to Exchange Rule 8.95 to allocate the option class listed below to the 

following DPM: 

CLASS SYMBOL DPM LOCATION 

1. Patterson UTI Energy Inc. PTEN Johnson Trading J.V. P3 S7 

Stay informed about issues at CBOE! Sign up today to receive informational and news notices via e-mail or fax. E-mail your name, firm (if 

applicable) and desired e-mail address or fax number to: members@cboe.com or contact Doug Luzzi at 312-786-7105. 

DPM APPOINTMENT TRANSFER APPROVAL 

May 9, 2001 

The MTS Committee has conditionally approved pursuant to CBOE Rule 8.89 a proposal from Calusa, LLC, a member organization operating 

as a DPM, regarding changes to its ownership structure. The Calusa DPMs are located at Post 2 - Station 3 and Post 2 - Station 4. 

Botta Capital Management, LLC (“BCM”) is the sole member of Calusa, LLC. Currently, BCM consists of two classes of members, Class A 

members and Class B members. BCM’s Class A percentage interest ownership is as follows: Jeffrey Wolfson – 27%; Kevin Luthringshausen 

– 35%; Michael Frazin – 19%; Scott Bauer – 5%; Kelly Luthringshausen – 5%; Philip Teuscher – 3%; Brian Batt – 2%; Michael Edwards – 

2.5%; and Corey Zimmerman – 1.5%. 

Under the proposal: (i) Jeffrey Wolfson would transfer separate 8.55% Class A percentage interests in BCM to Michael Frazin and Kevin 

Luthringshausen in return for a promissory note payable in five years based on the book value of BCM. (ii) Immediately following the proposed 

sale, the Class A percentage interest ownership in BCM would change as follows: Jeffrey Wolfson – 9.9%; Kevin Luthringshausen – 43.55%; 

Michael Frazin – 27.55%; Scott Bauer – 5%; Kelly Luthringshausen – 5%; Philip Teuscher – 3%; Brian Batt – 2%; Michael Edwards – 2.5%; 

and Corey Zimmerman – 1.5%. (iii) The Class A members of BCM will amend the operating agreement to limit Mr. Wolfson’s authority as a 

manager to voting his 9.9% Class A percentage interest. 

With the exception of the foregoing, the management and trading staff of the Calusa DPM would remain unchanged. 

DPM APPOINTMENT TRANSFER APPROVAL 

May 9, 2001 

The MTS Committee has conditionally approved pursuant to CBOE Rule 8.89 a proposal from Botta Trading DPM, LLC (“BT”), a member 

organization operating as a DPM, regarding changes to its ownership structure. The BT DPM is located at Post 2, Station 2. 

Currently, BT consists of two classes of members, Class A members and Class B members. BT’s Class A percentage interest ownership is as 

follows: Jeffrey Wolfson – 27%; Kevin Luthringshausen – 35%; Michael Frazin – 19%; Scott Bauer – 5%; Kelly Luthringshausen – 5%; Philip 

Teuscher – 3%; Brian Batt – 2%; Michael Edwards – 2.5%; and Corey Zimmerman – 1.5%. 

Under the proposal: (i) Jeffrey Wolfson would transfer separate 8.55% Class A percentage interests to Michael Frazin and Kevin Luthringshausen 

in return for a promissory note payable in five years based on the book value of BT. (ii) Immediately following the proposed sale, the Class A 

percentage interest ownership in BT would change as follows: Jeffrey Wolfson – 9.9%; Kevin Luthringshausen – 43.55%; Michael Frazin – 

27.55%; Scott Bauer – 5%; Kelly Luthringshausen – 5%; Philip Teuscher – 3%; Brian Batt – 2%; Michael Edwards – 2.5%; and Corey 

Zimmerman – 1.5%. (iii) The Class A members of BT will amend the operating agreement to limit Mr. Wolfson’s authority as a manager to 

voting his 9.9% Class A percentage interest. 

With the exception of the foregoing, the management and trading staff of the BT DPM would remain unchanged.


MEMBERSHIP INFORMATION FOR 05/03/01 THROUGH 05/09/01 

MEMBERSHIP APPLICATIONS RECEIVED 

FOR WHICH A POSTING PERIOD 

IS REQUIRED 

Individual Member Applicants Date Posted 

Joseph R.C. Pinto, Nominee 05/03/01 

TFM Investment Group 

2282 Rockefeller Dr. 

Geneva, IL 60134 

Robbie D. Wagner, Nominee 05/03/01 

AOTS Limited Partnership 

8222 23rd Avenue 

Kenosha, WI 53143 

Martin R. Ray, Nominee 05/03/01 

Robert C. Sheehan And Associates, Inc 

343 Dearborn St. 

Chicago, IL 60604 

Tomasz J. Nalezinski, Nominee 05/04/01 

Futrex Trading L.L.C. 

4224 N. Mason Ave. 


Laximinarain Athreya, Nominee 05/04/01 

Optiver Derivatives Trading USA-LLC 

440 S. LaSalle St. #1124 


Daniel J. Reinert, Nominee 05/04/01 

Robert C. Sheehan And Associates, Inc 

15948 Ellis Avenue 

South Holland, IL 60473 

Jason Z. Kurnik, Nominee 05/04/01 

Goldsmith Trading, L.L.C. 

8 Emlin Place 

Kentfield, CA 94904 

Eric F. Jacobson, Nominee 05/04/01 

CTC LLC 

2658 N. Dayton 


Brandon Cone, Nominee 05/07/01 

Tansraafl Research & Trading LLC 

5510 S. Hyde Park Ave #1 


Robert E. Beltz, Nominee 05/07/01 

JSS Investments, L.L.C. 

825 W. Altgeld #1W 


Eric Michael Berindei, Nominee 05/07/01 

Wolverine Trading L.P. 

1083 Lombardy Ct. 

Chesterton, IN 46304 

Anthony P. Lignelli, Nominee 05/07/01 

Second City Trading, L.L.C. 

611 W. Briar #301 


Kevin P. Heaney, Nominee 05/07/01 

Knight Financial Products, L.L.C. 

1450 N. Cleveland Ave. #3F 


Date Posted 

Jonathan D. Wysaski, Nominee 05/07/01 

Mako Global Derivatives, L.L.C. 

527 N. Center 

Naperville, IL 60563 

Bradley R. Dumes, Nominee 05/07/01 

CTC L.L.C. 

1546 N. LaSalle, Apt# 203 


Daniel J. Petterec, Nominee 05/07/01 

Tradelink L.L.C. 

5 Beechwood Court East 

Buffalo Grove, IL 60089 

Ellis B. Chu, Nominee 05/07/01 

Orbit II Partners, L.P. 

1604 Fox Run Drive 

Arlington Heights, IL 60004 

Lloyd I. Miller III, Lessor 05/07/01 

4450 Gordon Drive 

Naples, FL 34102 

John G. Poast, Nominee 05/07/01 

Hull Trading Co. L.L.C. 

550 N. Kingsbury - #214 


Timothy S. Miller, Nominee 05/07/01 

Tansraafl Research & Trading L.L.C. 

937 S. Brainard 

LaGrange, IL 60525 

Jennifer Mistretta, Nominee 05/07/01 


3056 N. Racine - 2nd Floor 


Brian J. Barrett, Nominee 05/07/01 

Nomura Securities Inc. 

4240 N. Winchester 

Chicago, IL 

Christopher Louglin, Nominee 05/08/01 


330 N. Jefferson #1801 


Jude W. Khin, Nominee 05/08/01 

Big Blue Trading JV 

633 South Plymouth Ct. #703 


Ahmed Khaleel, Nominee 05/08/01 

JSS Investments, L.L.C. 

2244 N. Halsted Avenue #3F 


Edward R. Gierlach, CBT Registered For 05/08/01 

CMT Securities, L.L.C. 

28624 W. Heritage Oaks Road 

Barrington, IL 60010 

Matthew M. Ferullo, Nominee 05/08/01 

Blue Capital Group L.L.C. 

1928 N. Fremont St. #1R 

Chicago, IL 60614


Christopher C. Sporer, Nominee 05/08/01 

BOTTA Capital Management L.L.C. 

440 S. LaSalle, #2400 


Member Organization Applicants 

Rubicon Investments L.L.C. 05/04/01 

Five Dollar Trading L.L.C. - Member 

Steven Malitz - Member 

Mark Eddy - Member 

Christopher B. Harris - CBT-RF 

440 S. LaSalle Street, #1751 


Grace Trading L.L.C. 05/07/01 

Daniel I. Nicolosi - Managing Member 

Ann L. Nicolosi - Member 

Phillip Bretts - CBT-RF 

Daniel Nicolosi - CBT-RF 

1118 W. Webster 


CMT Securities, LLC 05/07/01 

CMT U.S. Holdings L.L.C. - Member 

Jan-Dirk Lueders - Member 

Edward Gierlach - CBT-RF 

500 West Monroe St., Ste. 2630 


Saliba Partners, LLC 05/07/01 

John M. Saliba - Managing Member 

John M. Saliba - Nominee 

311 S. Wacker Drive, Suite 3800 


Eclipse, L.L.C. 05/07/01 

Craig Karsen - Member 

Randy Emer - Member 

Mark Elafros - Member 

230 S. LaSalle Street, #688 


DRC Corporation 05/08/01 

Cecila M. Kim - President 

Daniel K. Kim - Secretary 

William Sullivan - Member 

CWW L.L.C. - Member 

Scott Witten - Member 

William Sullivan - Nominee 

141 W. Jackson Blvd., 1310A 


Tighe Trading, L.L.C. 05/08/01 

David J. Hoelscher - Managing Member 

Paul R. Raemont - Nominee 

141 W. Jackson Blvd., Suite 1310-A 


Date Posted Date Posted 

Tahoe Trading, L.L.C. 05/09/01 

BCG, L.L.C. - Managing Member 

Steven B. Braveman - Managing Member 

Casteel Ridge Investors, L.L.C. - Managing Member 

Braverman Family Trust 1996 - Managing Member 

Steven B. Braveman- Trustee 

Hyedge, L.L.C. - Managing Member 

James R. Hyde - Managing Member 

Ross G. Kaminsky - Managing Member 

Lanny I. Brooks - CBT-RF 

Matthew K. Cashman - CBT-RF 

Mark A. Cameron - CBT-RF 

Edwardo A. Campins - CBT-RF 

Thomas B. Fredericks - CBT-RF 

Bradley D. Haag - CBT-RF 

Jamie Jacobs - CBT-RF 

Stephen F. Lake - CBT-RF 

William S. Menden - Nominee 

Joel A. Tenner - Nominee 

John M. Vignoe - CBT-RF 

440 S. LaSalle - Ste. 2500 


MEMBERSHIP LEASES 

New Leases Effective Date 

Lessor: George E. Morris 05/03/01 

Lessee: Wolverine Trading L.P. 

Timothy M. Benton, NOMINEE 

Rate: 1.435% Term: Monthly 

Lessor: Susquehanna Investment Group 05/04/01 

Lessee: Botta Trading-Lynx DPM LLC 

Rate: 1 1/2% Term: Monthly 

Lessor: Abn Amro Incorporated 05/07/01 

Lessee: Wes Options Company 

Wesley Demmon (WWD), NOMINEE 


Lessor: S & S Options 05/08/01 

Lessee: BOTTA Capital Management LLC 

Timothy J. Werner, NOMINEE 


Terminated Leases Termination Date 

Lessor: Gerald A. Wood J.R. 05/03/01 

Lessee: Wolverine Trading L.P. 

Timothy M. Benton (BTN), NOMINEE 

Lessor: Cole, Roesler Trading Group, L.P 05/04/01 

Lessee: Botta Trading-Lynx DPM L.L.C. 

Peter C. Guth (PG), NOMINEE 

Lessor: Susquehanna Investment Group 05/04/01 

Lessee: Tiger Options L.L.C. 

Martin E. Rauba (MRT), NOMINEE 

Lessor: Abn Amro Incorporated 05/08/01 

Lessee: Wes Options Company 

Wesley W. Demmon (WWD), NOMINEE


MEMBERSHIP Terminations 

Individual Members Termination Date 

Peter Jon Skogh (PPJ) 05/03/01 

Nomura Securities International Inc 

311 S. Wacker Dr., Ste. 6100 


John M. Fusco (SCO) 05/04/01 

Prime International Equities, L.L.C. 

141 W. Jackson, Ste.1603 


Lessor(s): 

Gerald A. Wood Jr. 05/03/01 

139 S. Clay 

Hinsdale, IL 60521 

Nominee(s) / Inactive Nominee(s): 

Martin E. Rauba (MRT) 05/04/01 

Tiger Options LLC 

440 S. LaSalle, Ste. 3100 


Michael M. Klearman (MMK) 05/07/01 

PEAK6 Capital Management LLC 



Wesley W. Demmon (WWD) 05/07/01 

Wes Options Company 



Michael Gooley (GOO) 05/08/01 

AOT USA LLC 



George P. Konhilas (YME) 05/08/01 

Midland Trading, L.L.C. 



Jeffrey F. Brice (JBB) 05/09/01 

Spear, Leeds & Kellogg 

440 S LaSalle, Ste. 2118 


Rex L. Hufnagel (REX) 05/09/01 

Spear, Leeds & Kellogg 

440 S. LaSalle - Suite 2118 


EFFECTIVE MEMBERSHIPS 

Individual Members Effective Date 

CBT Exercisers: 

J. Alexander Stevens (JQQ) 05/03/01 

P.O. Box 2474 


Type of Business to be Conducted: Floor Broker Market Maker 

CBT Registered For: 

Effective Date 

Edward P. McFadden III (EDM) 05/07/01 

Knight Financial Products, L.L.C. 

330 Malden Avenue 

LaGrange Park, IL 60526 

Type of Business to be Conducted: Floor Broker Market Maker 

Philip M. Carava (FIL) 05/08/01 

Triangle Trading, L.L.C. 

440 S. LaSalle Ste.619 


Type of Business to be Conducted: Market Maker 

John L. Carter (KIT) 05/09/01 

Sparta Group Of Chicago, L.P. 

440 S. LaSalle Street, Ste. 2500 



Lessor(s): 

George E. Morris Jr. 05/03/01 

5750 NE Island Cove Way 

Stuart, FL 34996 

Nominee(s) / Inactive Nominee(s): 

Joshua Abrams (GSE) 05/07/01 

PEAK6 Capital Management LLC 

2930 N. Sheridan Rd. #508 



Wesley W. Demmon (WWD) 05/07/01 

Wes Options Company 




Michael W. Prete (PRE) 05/08/01 




Timothy J. Werner (TTW) 05/08/01 

BOTTA Capital Management LLC 

440 S. LaSalle -Ste 3400 



Member Organizations 

Wes Options Company 05/07/01 



Chicago , IL 60605 


DRB, LLC 05/09/01 


133 N. Elmore 

Park Ridge, IL 60068 

Type of Business to be Conducted: Market Maker


JOINT ACCOUNTS 

New Participants Acronym Effective Date 

Adam D. Boyer QWD 05/03/01 

Edward P. McFadden III QPZ 05/07/01 

Edward P. McFadden III QUN 05/07/01 

Joshua Abrams QXP 05/07/01 

Joshua Abrams QZZ 05/07/01 

Scott I. Bauer QQW 05/09/01 

Joseph I. DiMaggio QOX 05/09/01 

New Accounts 

Timothy J. Werner QWE 05/08/01 

Luke G. O’Donnell Jr. QUK 05/08/01 

Michael G. Palermo QUK 05/08/01 

Terminated Participants Acronym Terminated Date 

Mark L. Dooley QEP 05/04/01 

Mark L. Dooley QTC 05/04/01 

Martin E. Rauba QTG 05/04/01 

Michael M. Klearman QXP 05/07/01 

George P. Konhilas QCB 05/08/01 

Kevin J. Galassini QRA 05/08/01 

Edward V. Dolinar QBZ 05/09/01 

Jeffrey F. Brice QLS 05/09/01 

Jeffrey F. Brice QSP 05/09/01 

Jeffrey F. Brice QMB 05/09/01 

Jeffrey F. Brice QQB 05/09/01 

Rex L. Hufnagel QLS 05/09/01 

Rex L. Hufnagel QMB 05/09/01 

Rex L. Hufnagel QQB 05/09/01 

CHANGES IN MEMBERSHIP STATUS 

Individual Member Applicants Effective Date 

Patrick T. Koehler 05/03/01 

From: CBT Registered For Kich Trading, Inc.; 

Floor Broker Market Maker 

To: CBT Registered For STC, L.L.C.; Floor Broker 


M. Barbara O’Brien 05/03/01 

From: CBT Registered For Kich Trading, Inc.; 

Floor Broker Market Maker 

To: CBT Registered For STC, L.L.C.; Floor Broker 

Daniel K. Kim 05/03/01 

From: Lessor, CBT Individual; Market Maker 

To: Owner; Market Maker 

John F. Burke 05/07/01 

From: Nominee For MDNH Partners, L.P; 

Floor Broker 

To: Nominee For Israel A. Englander and Co; 

Floor Broker 

Daniel R. Bergtholdt Jr. 05/09/01 

From: CBT Registered For Pioneer Capital, L.L.C.; 

Market Maker 

To: CBT Registered For DRB, LLC; Market Maker 

MEMBER ADDRESS CHANGES 

Individual Members Effective Date 

Michael W. Prete 05/07/01 



Ellis B. Chu 05/07/01 

440 S. LaSalle Ste. 2500 


Joseph R.C Pinto 05/07/01 



James T. Moster 05/07/01 

111 W. Jackson - 10th Floor 


Lloyd I. Miller III 05/07/01 

4550 Gordon Dr. 

Naples, FL 34102 

Timothy S. Miller 05/07/01 

141 W. Jackson - Ste. 2221A 


Lawrence J. Blum 05/07/01 

207 Dickens Road 

Northfield, IL 60093 

Dustin P. Sugasa 05/07/01 

311 S Wacker Drive - Ste 900 


Christopher C. Sporer 05/08/01 

440 S. LaSalle - Ste 3400 


David J. Hoelscher 05/08/01 

432 S Fairview Avenue 

Park Ridge, IL 60068 

Lanny I. Brooks 05/09/01 


Chicago, IL 60605



Mark A. Cameron 05/09/01 



Eduardo A. Campins II 05/09/01 



Thomas B. Fredericks 05/09/01 



Stephen F. Lake 05/09/01 



William S. Menden 05/09/01 



John M. Vignoe 05/09/01 



Joel A. Tenner 05/09/01 

440 S. LaSalle -Ste 2500 


Kurt R. Passehl 05/09/01 



Member Organizations 

Prudential Securities Incorporated 05/04/01 

100 State Street, Ste. 100 

Erie, PA 16507 

S. R. Partners, Ltd. 05/07/01 

1158 Summitt Drive 

Beverly Hills, CA 90210 

Daiwa Securities America Inc. 05/07/01 

Financial Square 32 Old Slip, #14FL 

New York, NY 10005 

MEMBER NAME CHANGE 

Member Organizations Effective Date 

From: Dean Witter Reynolds 05/08/01 

To: Morgan Stanley DW Inc. 

POSITION LIMITS 

For all equity options classes except those listed below, the standard position and exercise limits pursuant to Exchange Rule 

4.11 and 4.12 will be applicable. For a complete list of all applicable limits, check 2nd floor data information bins or contact the 

Department of Market Regulation. If you wish to receive regular updates of the position limit list, please contact Candice 

Nickrand at (312) 786-7730 of the Department of Market Regulation. 

Class Limit Date 

BDH/BXH 22,500 contracts 5/19/01 

BNC 75,000 contracts 5/19/01 

FST/FTV 22,500 contracts 5/19/01 

IIH/IHX 22,500 contracts 5/19/01 

JQ/QYI/QYJ/QDM/YJN/OQK 150,000 contracts 5/19/01 

MNU 45,000 contracts 5/19/01 

MZU 150,000 contracts 5/19/01 

QFW/FIV 31,500 contracts 5/19/01 

QLL/AEX/AZV 150,000 contracts 5/19/01 

QMN/QMR/UMY 150,000 contracts 5/19/01 

SYY 150,000 contracts 5/19/01 

UML/UMQ/UEL 150,000 contracts 5/19/01 

XTO/XTG 4,725,000 shares 5/19/01 

CJT/SUQ/SUX/SWV/VSU/XWV/VZX 331,500 contracts 6/16/01 

CQR/RNC/YFA/OQC 150,000 contracts 6/16/01 

DME/EIM 60,000 contracts 6/16/01 

DNA/DWN 150,000 contracts 6/16/01 

FBB/GP/VGP 195,000 contracts 6/16/01 

GP/VGP/FBB 195,000 contracts 6/16/01 

SBL/SFB/THL 14,625,000 shares 6/16/01 

SUQ/SUX/SWV/VSU/XWV/VZX/CJT 331,500 contracts 6/16/01 

TEF/TEB/YEF 7,803,000 shares 6/16/01 

TGR/BCE/WFK/WFL/VFK 106,500 contracts 6/16/01 

THL/SBL/SFB 14,625,000 shares 6/16/01 

V/ONV 75,000 contracts 6/16/01 

WFC/VWF/FBW 150,000 contracts 6/16/01 

AFX/QQB 45,000 contracts 7/21/01 

AOT/SIW 31,500 contracts 7/21/01 

AIY/AXA 106,500 contracts 7/21/01 

AXA/AIY 106,500 contracts 7/21/01 

CJL/CVQ 53,000 contracts 7/21/01 

CMA/IMD 82,500 contracts 7/21/01 

CVQ/CJL 53,000 contracts 7/21/01 

DUK 150,000 contracts 7/21/01 

ETN/ETD 31,500 contracts 7/21/01 

EUA/EVA/EVB 45,000 contracts 7/21/01 

FKS/UVM 106,500 contracts 7/21/01 

HAU/LKQ 54,000 contracts 7/21/01 

HWP/WPW/WOW/YLP/VHP 181,500 contracts 7/21/01 

IDQ/IDK/IHO225,000 contracts 7/21/01



KGE/YKE/EXK/YKN 11,250,000 shares 7/21/01 

MEE/FRV 31,500 contracts 7/21/01 

QMT/TTD 135,000 contracts 7/21/01 

QQB/AFX 45,000 contracts 7/21/01 

QSD/DWP 11,250,000 shares 7/21/01 

QVM/QUM/UZQ 150,000 contracts 7/21/01 

SGR 45,000 contracts 7/21/01 

TTD/QMT 135,000 contracts 7/21/01 

UMN/OFO/UGE 12,571,000 shares 7/21/01 

UVM/FKS 106,500 contracts 7/21/01 

XAP/HWP/WPW/WOW/YLP/VHP 181,500 contracts 7/21/01 

ZUQ 150,000 contracts 7/21/01 

AQU/HUJ 11,250,000 shares 8/18/01 

BAW/PRM 105,210 contracts 8/18/01 

DWV/MXO189,000 contracts 8/18/01 

DZU/DZV 3,375,000 shares 8/18/01 

EKU 45,000 contracts 8/18/01 

FUO/FOC 3,375,000 shares 8/18/01 

GDQ 150,000 contracts 8/18/01 

MXO/DWV 189,000 contracts 8/18/01 

PRM/BAW 105,210 contracts 8/18/01 

OAQ/POL 11,250,000 shares 8/18/01 

YQK 225,000 contracts 8/18/01 

EPG/GOP 167,250 contracts 9/22/01 

FLW/RIG 150,000 contracts 9/22/01 

GOP/EPG 167,250 contracts 9/22/01 

LTR 63,000 contracts 9/22/01 

SLK/SAX/SLU/SSV/UQD/XXZ/UCQ/UNQ/ 

YSU/YDI/YJU/YHH/OVU/VEQ/PVG 360,000 contracts 9/22/01 

RIG/FLW 150,000 contracts 9/22/01 

UQD/XXZ/UCQ/UNQ/YSU/YDI/YJU/YHH/ 

OVU/VEQ/SLK/SAX/SLU/SSV 360,000 contracts 9/22/01 

AGC 150,000 contracts 10/20/01 

AMP/MRQ 150,000 contracts 10/20/01 

BBJ/BBO/BBQ 7,500,000 shares 10/20/01 

FBF/WGW/VFT/SBJ 22,470,000 shares 10/20/01 

IDJ/VMB/WVM/VVM 231,000 contracts 10/20/01 

MRQ/AMP 150,000 contracts 10/20/01 

MSQ/MQF/YMF/ODL/ORF/PJG/MQV 90,750 contracts 10/20/01 

NQK/BQG 3,375,000 shares 10/20/01 

NZQ/URJ 54,000 contracts 10/20/01 

QME/MEF 31,500 contracts 10/20/01 

SBJ/FBF/VFT/WGW 22,470,000 shares 10/20/01 

TR/TOK 1,390,000 shares 10/20/01 

VMB/WVM/VVM/IDJ 231,000 contracts 10/20/01 

AFL 150,000 contracts 11/17/01 

ARB/EYQ 60,000 contracts 11/17/01 

SO/SZC 75,000 contracts 11/17/01 

UTH/UHX 13,500 contracts 11/17/01 

ADI/AKI/WDI/WZQ/VIK/OKI 150,000 contracts 1/19/02 

AEQ/AXX/VAE/ODJ/AQH 300,000 contracts 1/19/02 

AHQ/WAH/VAY/AHU 150,000 contracts 1/19/02 

AIG/WAP/ZFA/WAJ/ZPW/VAF/ZKR/YWB 14,062,500 shares 1/19/02 

ALA/WNV 150,000 contracts 1/19/02 

AMQ/YAA//VAN 150,000 contracts 1/19/02 

AMR/WAR/UAR 75,000 contracts 1/19/02 

AN/YNP 75,000 contracts 1/19/02 

ANQ/ANC/AWL/VPJ 150,000 contracts 1/19/02 

AOL/AOE/AOO/AOW/OOL/VAN/XTE/YYW 26,250,000 shares 1/19/02 

AQH 150,000 contracts 1/19/02 

ASO/ZFH/WFH 7,500,000 shares 1/19/02 

AXP/AQP/VAX 225,000 contracts 1/19/02 

BCE/WFK/WFL/VFK/TGR 106,500 contracts 1/19/02 

BGQ/VNG 150,000 contracts 1/19/02 

BNQ/BYQ/BWR/WWO/YUX/YOW/YWR/ 

YUJ/OKO/VRQ 300,000 contracts 1/19/02 

BP/VAO150,000 contracts 1/19/02 

CL/WTP/VGO150,000 contracts 1/19/02 

CYQ/CYJ/CWY/VYC 30,000,000 shares 1/19/02 

DOW/WDO/VDO/UKD 240,750 contracts 1/19/02 

ELN/VBZ/YPO150,000 contracts 1/19/02 

EMC/EMB/YME/WYK/VUE/EKO/EBC/VUP 270,000 contracts 1/19/02 

ENE/VEN 150,000 contracts 1/19/02 

ERQ/ERU/VRE/VVG/WYG 120,000 contracts 1/19/02 

F/WFO/YOD 75,000 contracts 1/19/02 

FQC/FZC/WFU/YFG/VFU 150,000 contracts 1/19/02 

GBD/YKB/GSK/WGX/VLX 15,975,000 shares 1/19/02 

GE/GEW/WGE/VGE 225,000 contracts 1/19/02 

GMH/YGH/VGL 225,000 contracts 1/19/02 

GSK/WGX/VLX/GBD/YKB 15,975,000 shares 1/19/02 

GTW/WGB/VGB 150,000 contracts 1/19/02 

HD/WHD/YSY/VHD 11,250,000 shares 1/19/02



IRU/IUR/RBU/IMU/YRU/YYR/OIR/OJN/GYV/OLR 150,000 contracts 1/19/02 

IUQ/IUU/QUV/WYJ/YJW/VYJ 450,000 contracts 1/19/02 

JNJ/WUY/VJN 150,000 contracts 1/19/02 

JPB/JSA/YBG/YMB/OYJ/JPM/CJM/WCV/XJM/ 

VCR 39,000,000 shares 1/19/02 

JPM/CJM/WCV/XJM/VCR/JPB/JSA/YBG/YMB/ 

OYJ 39,000,000 shares 1/19/02 

KR/VKK 150,000 contracts 1/19/02 

LDQ/WQM/WUO/WQZ/DOJ/VQM 22,500,000 shares 1/19/02 

LMQ/MLC//WMJ/YXW/VPC/LKR 225,000 contracts 1/19/02 

LOQ/LQL/UBX/YRB/UQB/WCX/VCE 150,000 contracts 1/19/02 

LSI/ISM/VBS 150,000 contracts 1/19/02 

LTD/WKX/ZOF/WDL/VLD 150,000 contracts 1/19/02 

MDT/WKV/VKD 150,000 contracts 1/19/02 

MGA/WMG/YGG/VAG 31,500 contracts 1/19/02 

MU/MUY/VGY/VLW/GYV 150,000 contracts 1/19/02 

MWD/MFZ/VWD 150,000 contracts 1/19/02 

NOK/NAY/NZY/VOK 300,000 contracts 1/19/02 

NT/NTV/WNT/YNZ/ZZN/UCY/YUC/ODT/ODV 38,190,000 shares 1/19/02 

ORQ/ORY/VOC/MOQ/WOK/VOK 300,000 contracts 1/19/02 

PCS/WVH/VVH 150,000 contracts 1/19/02 

PFE/WPE/XWZ/VPE 28,125,000 shares 1/19/02 

PHA/YNJ/VM 16,425,000 shares 1/19/02 

PNJ/YNJ/PHA/WGF/VM 16,425,000 shares 1/19/02 

Q/VWW/WUX 20,400,000 shares 1/19/02 

QAQ/AAW/AAO/AAF/AUA/VLM/OVG 300,000 contracts 1/19/02 

QFN/WOF/WCW/VRW/OFN/VKW 150,000 contracts 1/19/02 

QGC/QGW/GCB/GXW/WCK/YCK/YSW/VCK 150,000 contracts 1/19/02 

QYK/KYQ/YOR/VFR/KFN/KAY 150,000 contracts 1/19/02 

RAL/WLR/YKL/VLR 75,000 contracts 1/19/02 

RCQ/RDZ/RDW/RDU/VJG/WDK/YRL/YRM/ 

WXD/WGJ//YRR/OYG/ORD 150,000 contracts 1/19/02 

RQC/VYD 300,000 contracts 1/19/02 

SAP/WTA/VSP 225,000 contracts 1/19/02 

SBC/VFE 17,325,000 shares 1/19/02 

SCH/WWS/YVV/VYS 11,250,000 shares 1/19/02 

SLB/WUB/WME/VWY 75,000 contracts 1/19/02 

SLR/VRL 150,000 contracts 1/19/02 

SQN/ONS/SMJ/OMT 300,000 contracts 1/19/02 

SWS/WRM/YWF/VWZ 3,465,000 shares 1/19/02 

TLQ/XOP 150,000 contracts 1/19/02 

TMX/XMR/WTE/TEW/VTE/TMU/TXZ/XRX/ 

YRY/ORX 150,000 contracts 1/19/02 

TQA/TAZ/WRZ/VCY 225,000 contracts 1/19/02 

TXN/TNZ/TXR 300,000 contracts 1/19/02 

TYC/VYL 150,000 contracts 1/19/02 

UBX/YRB/UQB/WCX/VCE/LOQ/LQL 150,000 contracts 1/19/02 

UCY/YUC/NT/NTV/WNT/YNZ/ODT 38,190,000 shares 1/19/02 

UKD/DOW/WDO/VDO 240,750 contracts 1/19/02 

VZ/VBU/YLG 16,650,000 shares 1/19/02 

WNV/ALA 150,000 contracts 1/19/02 

WQS/XBR/VMQ 11,250,000 shares 1/19/02 

WUO/LDQ/WQM/ZPX/WQZ/DOJ/VQM 22,500,000 shares 1/19/02 

WUX/Q/UWW 20,400,000 shares 1/19/02 

WUY/JNJ/VJN 150,000 contracts 1/19/02 

XLQ/WXJ/VXJ/XLW 150,000 contracts 1/19/02 

XOP/TLQ 150,000 contracts 1/19/02 

XQL/YHS/OLH 120,000 contracts 1/19/02 

XTE/YYW/AOL/AOE/AOO/AOW/OOL/VAN 26,250,000 shares 1/19/02 

XWZ/PFE/WPE/VPE 28,125,000 shares 1/19/02 

YHQ/YHU/YHV/YMM/YUU/OYH/VYH/OYO/ 

YCH/YHX/YHZ 150,000 contracts 1/19/02 

YPO/ELN/VBZ 150,000 contracts 1/19/02 

ZFH/WFH/ASO7,357,500 shares 1/19/02 

ZQN/QZN/YZZ/YQN/VON/VEE/ZQQ 150,000 contracts 1/19/02 

ZZN/UCY/XUC/YUC/NT/NTV/WNT/YNZ/ODT 38,190,000 shares 1/19/02 

AAQ/VAA/QAA 150,000 contracts 1/18/03 

AMD/AKD/WVV/YVD/VVV 150,000 contracts 1/18/03 

AP/VYA/OBP/YTV 75,000 contracts 1/18/03 

AQT/YAT/YHE/VLH 150,000 contracts 1/18/03 

AZA/VZA 150,000 contracts 1/18/03 

BUD/WBD/VBD 150,000 contracts 1/18/03 

C/ZUZ/ZZV/WRV/VRN/YSV/OCY 9,975,000 shares 1/18/03 

CAH/YCX/OCJ/CKJ/YKJ/OKJ 11,250,000 shares 1/18/03 

CVC/WJD/VJL/CVJ/YJD/VJL 31,500 contracts 1/18/03 

ENZ/OMJ/EKD/JME 3,307,500 shares 1/18/03 

EZQ/WZW/VZH 150,000 contracts 1/18/03 

FRX/FHA/WRT/VFB 150,000 contracts 1/18/03 

GLW/GRJ/GWD/WGU/YGW/YHL/VGC/ 

VHO/WYY 225,000 contracts 1/18/03 

HHH/WHB/OHH/HXH/YYC/OYC/HHV 

/HWH/OHZ/THH/WBV/VWH 75,000 contracts 1/18/03


Position Limit Circular PL01-58 

DATE: May 4, 2001 


DATE: May 7, 2001 


NQ/IQ/NQ/VNL 150,000 contracts 1/18/03 

IOU/FHY/GQG/YGA/OGC 21,150,000 shares 1/18/03 

LEH/LES/VHE/OHW 150,000 contracts 1/18/03 

LTQ/WZT/VZT/WKS 150,000 contracts 1/18/03 

LUV/WUV/VUV/LUP/YUH/OUN 11,250,000 shares 1/18/03 

MER/JMR/VME 150,000 contracts 1/18/03 

MOT/MQO/VMA/MOJ 225,000 contracts 1/18/03 

PVN/WVR/VQV 150,000 contracts 1/18/03 

QCI/IUL/YCF/OFZ 150,000 contracts 1/18/03 

QED/DUB/WZZ/VTQ/EXF 150,000 contracts 1/18/03 

RAQ/RAZ/VJR/OBM 150,000 contracts 1/18/03 

SEZ/YGM/OGM/VUQ 150,000 contracts 1/18/03 

SGQ/SGW/EZG/YDS/YYS/OIE/VEI 150,000 contracts 1/18/03 

SQX/VPR150,000 contracts 1/18/03 

TGT/VDH 150,000 contracts 1/18/03 

THQ/WTH/VTH/HB/YHJ/OBB 75,000 contracts 1/18/03 

TIF 120,000 contracts 1/18/03 

UBF/UBZ/GUF/ULF/OMW/OBO/BQB/OZD 150,000 contracts 1/18/03 

UBS/YWK/OWK 88,500 contracts 1/18/03 

UNH/WUH/VUH 150,000 contracts 1/18/03 

USB/YSR/OSR/USZ/WBP/VBV 169,500 contracts 1/18/03 

USZ/WBP/VBV/USB/YSR/OSR 169,500 contracts 1/18/03 

UVT/BWU/WWP/WJC/VLV/UVH/BWJ/WWB/VLE75,000 contracts 1/18/03 

WMB/WYM/VBB/AEB/AEK/HSD 75,000 contracts 1/18/03 

VUQ/SEZ/YGM/OGM 150,000 contracts 1/18/03 

YWK/OWK/UBS 88,500 contracts 1/18/03 

POSITION LIMIT CIRCULARS 

TO: Members and Member Organizations 

FROM: Department of Market Regulation 

RE: Equity Position and Exercise Limits 

Please be reminded that the position and exercise limits 1 for the following equity option classes will be decreased to a lower tier limit with the 

May 2001 expiration. Effective May 21, 2001, the position and exercise limits for the following equity option classes will be decreased to the 

applicable standard limit as noted below: 

Underlying Stock Option Symbol Stock Symbol Standard Position and Exercise Limit 

Cyber-Care, Inc. RSU CYBR 31,500 Contracts 

Imrglobal Corporation QIQ IMRS 22,500 Contracts 

Net Perceptions, Inc. PEU NETP 31,500 Contracts 

Xybernaut Corporation XUY XYBR31,500 Contracts 

Copies of the complete list of the applicable limits for all Exchange listed options are available in the 2nd floor data information bins or may be 

obtained from the Department of Market Regulation. If you wish to receive regular updates of the position limit list via telefax, please contact 

Candice Nickrand at (312) 786-7730 in the Department of Market Regulation. 

1 Limits were previously reviewed in January 2001 and, at that time, these equity option classes were not eligible to remain at their current tier 

limit. 



RE: Equity Option Position and Exercise Limits 

The position and exercise limit in the Brunswick Corp. (BC) was scheduled to be decreased after the September 2001 expiration. However, as 

a result of a review of trading statistics, it has been determined that BC’s position and exercise limit will remain unchanged at 31,500 contracts. 

For additional information, please contact Michael Felty at (312) 786-7504 in the Department of Market Regulation.



DATE: May 7, 2001 




The position and exercise limit in the Citizens Communications Company (CZN) was scheduled to be decreased after the August 2001 

expiration. However, as a result of a review of trading statistics, it has been determined that CZN’s position and exercise limit will remain 

unchanged at 75,000 contracts. 

For additional information, please contact Michael Felty at (312) 786-7504 in the Department of Market Regulation. 


DATE: May 7, 2001 




The position and exercise limits in the Expedia, Inc. (EXPE/UED) and Readers Digest (RDA) were scheduled to be decreased after the July 

2001 expiration. However, as a result of a review of trading statistics, it has been determined that UED’s position and exercise limit will remain 

unchanged at 22,500 and RDA’s position and exercise limit will remain unchanged at 31,500. 

For additional information, please contact Michael Felty at (312) 786-7504 in the Department of Market Regulation. 


DATE: May 9, 2001 


RE: UTI Energy, Inc. (“UTI”) merger completed with Patterson Energy, Inc. (“PTEN/NZQ”) 

Effective Date May 9, 2001 

Please be advised that the Exchange listed Patterson Energy, Inc. (“PTEN/NZQ”) on May 9, 2001. Following the above merger, UTI Energy, 

Inc.’s option symbol of UTI changed to URJ. Please be advised that UTI Energy, Inc. is listed on the American Stock Exchange and the 

Philadelphia Stock Exchange. As a result of the above merger, Patterson Energy, Inc.’s name has been changed to Patterson-UTI Energy, Inc. 

The stock symbol of PTEN and the option symbol of NZQ will remain the same. 

The Exchange has established that the position and exercise limits following this merger will be any combination of URJ and NZQ option 

contracts on the same side of the market not to exceed 54,000 contracts through October 20, 2001. Following the October expiration, NZQ’s 

position and exercise limits will revert to the standard limit of 31,500 contracts. 

For additional information, please contact Candice Nickrand at (312) 786-7730 in the Department of Market Regulation. 

Position LImit Circular PL01-65 

DATE: May 14, 2001 



As a result of a review of trading statistics, the following classes now qualify for a higher position and exercise limit: 

Option Class Stock Symbol New Tier 

ILA ILA 22,500 

RQK RTIX 22,500 

URL SRCL 22,500 

ASD ASD 31,500 

PHM PHM 31,500 

SPW SPW 31,500 

TQB TWAV 31,500 

TUF TUNE 31,500 

UAF ALGN 31,500 

Option Class Stock Symbol New Tier 

ACF ACF 60,000 

VQQ SVGI 60,000 

CCRCCR75,000 

KUK COSN 75,000 

TTU TWTC 75,000 

WB WB 75,000 

BBJ/BBO/BBQ BOBJ 7,500,000 Shares* 

*Position reflected in shares due to a 3-for-2 Stock Split. After October 20, 2001, the position and exercise limit will be 75,000 contracts 

of BBJ. 

For additional information, please contact Michael Felty at (312) 786-7504 in the Department of Market Regulation.



DATE: May 14, 2001 



The position and exercise limit in the Homestore.com, Inc. (“HOMS/HMU”) was scheduled to be decreased after the July 2001 expiration. 

However, as a result of a review of trading statistics, it has been determined that HMU’s position and exercise limit will remain 

unchanged at 75,000 contracts. For additional information, please contact Michael Felty at (312) 786-7504 in the Department of Market 

Regulation. 


DATE: May 14, 2001 



The position and exercise limit in the Spectrian Corporation (“SPCT/QCS”) was scheduled to be decreased after the August 2001 expiration. 

However, as a result of a review of trading statistics, it has been determined that QCS’ position and exercise limit will remain unchanged 

at 22,500 contracts. For additional information, please contact Michael Felty at (312) 786-7504 in the Department of Market 

Regulation. 


DATE: May 14, 2001 



The position and exercise limit in the Machrochem Corporation (“MCHM/QQ”) was scheduled to be decreased after the September 2001 

expiration. However, as a result of a review of trading statistics, it has been determined that QQ’s position and exercise limit will remain 

unchanged at 22,500 contracts. For additional information, please contact Michael Felty at (312) 786-7504 in the Department of Market 

Regulation. 

RESEARCH CIRCULARS 

The following Research Circulars were distributed between May 4, and May 11, 2001. If you wish to read the entire document, please refer to 

the CBOE Web Site at www.cboe.com/tools/splt&mrg.htm For questions regarding information discussed in a Research Circular, please call 

the The Options Clearing Corporation at 1-800-OPTIONS. Visit www.cboe.com/tools/newlist.htm for information on new listings. 

Research Circular #RS01-277 

May 9, 2001 

AXA ADS (“AXA & adj. AIY”) 

2-for-1 ADS Split 

Ex-Distribution Date: May 17, 2001 


May 4, 2001 

Raytheon Company Class A (“RTN.A/RYA”) 

Reclassification, Stock and option Symbol Change to (“RTN”) 

Effective Date: May 15, 2001 


May 4, 2001 

Raytheon Company Class B (“RTN.B/RTN”) 

Reclassification & Stock Symbol Change to (“RTN”) 

Effective Date: May 15, 2001 


May 8, 2001 

Barrett Resources Corporation (“BRR”) 

Tender Offer TERMINATED 


May 10, 2001 

Willamette Industries, Inc. (“WLL”) 

Tender Offer **AMENDED** by Company Holdings, Inc. 


May 9, 2001 

Methode Electronics Inc. Class A (“METHA/QME & adj. MEF”) 

Determination of Cash-In-Lieu Amounts 


May 10, 2001 

*****UPDATE***** 

Biochem Pharma, Inc. (“BCHE/BQX/WOE/VCN”) Proposed 

Election Merger with Shire Pharmaceuticals Group plc 

(“SHPGY/UGH”) 

ELECTION DEADLINE: MAY 10, 2001 


May 10, 2001 

IVAX Corporation (“IVX/YIV/OIV”) 5-for-4 Stock Split Ex- 

Distribution Date: May 21, 2001 05/10/01 


May 11, 2001 

Baxter International, Inc. (“BAX”) 2-for-1 Stock Split 

Ex-Distribution Date: May 31, 2001 


May 11, 2001 

SouthTrust Corporation (“SOTR/SHQ/YEB”) 

2-for-1 Stock Split 

Ex-Distribution Date: May 14, 2001

May 18, 2001 Volume RB12, Number 20 

Regulatory 

Circulars 

Regulatory 

Bulletin 

The Constitution and Rules of the Chicago Board Options Exchange, Incorporated 

(“Exchange”), in certain specific instances, require the Exchange to provide notice to the 

membership. The weekly Regulatory Bulletin is delivered to all effective members to satisfy 

this requirement. 

Regulatory Circular RG01-59 

Date: May 7, 2001 

To: Members 

From: Regulatory Services Division 

Re: Joint Account Trading In OEX, SPX and DJX Indexes 

This memorandum addresses procedures established by the Exchange regarding the 

trading activities of joint account participants in the OEX, SPX and DJX (“Index”) option 

classes. These procedures supplement Exchange Rules regarding transactions on the 

floor by members. Additional procedures for joint accounts trading on RAES are contained 

in the rules and memoranda regarding the operations and eligibility requirements for those 

systems. 

The Committees have established that the following procedures apply to the trading of joint 

accounts in Index options: 

1. Joint accounts may be simultaneously represented in an Index crowd by participants 

trading in-person for the joint account. 

2. Joint account participants who are not trading in-person in an Index crowd, may 

enter orders for the joint account with floor brokers even if other participants are 

trading the same joint account in-person. 

3. When series are simultaneously opened during rotation, joint account participants 

trading the joint account in-person may enter orders for the joint account with floor 

brokers in series where they are unable to trade the joint account in-person. 

4. There is no restriction on the number of joint account participants that may participate 

on behalf of the joint account on the same trade in the Index. 

5. When joint account participants are trading in an Index crowd for their individual 

account or as a floor broker, another participant of the joint account may trade for 

the joint account in-person or enter orders for the joint account with floor brokers. 

6. Except for the exemption described in #7, members are reminded that they are 

prohibited from entering orders for their individual or joint accounts while they are 

trading in-person in an Index crowd even if the orders are for an account they are 

not then actively trading.

Regulatory Circulars 

continued 

Regulatory Circular RG01-59 continued 

7. Notwithstanding the restriction described in #6, managers of Exchange approved 

RAES joint accounts may enter orders with floor brokers for the RAES joint account 

if the manager is trading in-person for his individual account in the Index 

crowd. If the manager is trading in-person for the joint account the manager may 

not enter an order for the joint account with a floor broker. CLERKS MAY NOT 

ENTER ORDERS VIA THE USE OF RAES TATS BY GIVING THEM TO FLOOR 

BROKERS TO CLOSE-OUT POSITIONS. 

8. Members must ensure that they do not trade in-person or by orders such that 

[any of the following results]: 

(a) a trade occurs between a joint account participant’s individual market-maker 

account and the joint account of which he or she is a participant, or 

(b) a trade occurs in which the buyer and seller are representing the same joint 

account and are on opposite sides of a transaction. 

9. Joint account participants may not act as a floor broker for the joint account of 

which they are a participant. 

10. Members may alternate trading in-person for their individual account and their 

joint account while in an Index crowd. 

Joint Account Identification 

The proper procedure for completing a trade ticket for joint account transactions is that 

both the member’s and joint account acronym must be included. This information is 

required to insure that the initiating joint account member receives credit for such transactions 

as they relate to reporting and market performance obligations set forth in Exchange 

Rules 6.51 (d) and 8.7.03. 

Requests for exemptions from the above procedures should be directed to the appropriate 

Committee. 

Questions regarding this memorandum may be directed to Pat Cerny at (312) 786-7722 

or Steve Slawinski (312) 786-7744 in the Division’s Department of Market Regulation. 

(RG98-95, revised) 


Date: May 7, 2001 

To: Members 

From: Regulatory Services Division 

Re: Joint Account Participant Trading In Equity Options 

This memorandum addresses procedures established by the Equity Floor Procedure 

Committee (“EFPC”) regarding the trading activities of joint account participants in equity 

option crowds. These procedures do not apply to the trading activities of DPMs in their 

appointed option classes. These procedures supplement Exchange Rules regarding 

transactions on the floor by members. The requirements governing joint account trading 

on RAES are contained in the rules and memoranda regarding the operations and eligibility 

requirements for that system (See Rules 6.8 and 8.16). 

RB2 May 18, 2001, Volume RB12, Number 20


continued 


The EFPC has determined that the following procedures apply to the trading of joint accounts 

in equity options: 

1. A joint account may be simultaneously represented in a trading crowd only by 

participants trading in-person. Orders for a joint account may not be entered in a 

crowd where a participant of the joint account is trading in-person for the joint 

account. However, if no participant is trading in-person for the joint account, orders 

may be entered via floor broker so long as the same option series is not 

represented by more than one floor broker. 

2. Members may alternate trading in-person between their individual and joint accounts 

while in the crowd. Members who alternate trading between accounts 

must ensure that while trading the joint account another participant does not enter 

orders through a broker for the joint account in the same crowd or that an order is 

not being continuously represented for the joint account in the same crowd. 

3. The EFPC has determined that it is the responsibility of a joint account participant 

to ascertain whether joint account orders have been entered in a crowd prior to 

trading the joint account in-person. 

4. Joint account participants may not act as a floor broker for the joint account of 

which they are a participant. 

5. When a joint account participant is trading in a crowd for his individual account or 

actively as a floor broker for accounts unrelated to his joint account, another participant 

of the joint account may either trade in-person for the joint account or enter 

orders for the joint account with other floor brokers. 

6. Members are prohibited from entering orders in a particular crowd with floor brokers 

for their individual or joint account whenever they are trading in-person in that 

crowd; this applies even though the orders are for an account they are not then 

actively trading. 

7. It is a member’s responsibility to ensure that they do not trade in-person or enter orders 

with floor brokers such that: 

(a) a trade occurs between a joint account participant’s individual account and the 

joint account of which he or she is a participant, or 

(b) a trade occurs in which the buyer and seller are representing the same joint 

account and are on opposite sides of a transaction. 

Joint Account Identification 

The proper procedure for completing a trade ticket for joint account transactions is that 

both the initiating member’s acronym and the joint account acronym must be recorded. 

This information is required to insure that the initiating joint account member receives credit 

for such transactions as they relate to reporting and market performance obligations set 

forth in Exchange Rules 6.51(d) and 8.7.03. 

Requests for exemptions from the above procedures should be directed to the EFPC. 

Questions regarding this memorandum may be directed to Pat Cerny at (312) 786-7722 or 

Steve Slawinski at (312) 786-7744 in the Department of Market Regulation. 

(RG98-94, revised) 

May 18, 2001, Volume RB12, Number 20 RB3


continued 


Date: May 3, 2001 

To: The Membership 

From: Department of Market Regulation 

Re: Transactions Between Related Entities 

This Circular addresses the Exchange’s change in regulatory policy with respect to transactions 

between related accounts with common financial backing. Under the revised 

policy, trading between related entities as detailed below will be allowed, provided that 

such transactions are effected within existing exchange rules (i.e. in open out-cry and not 

of a manipulative nature), and where such entities have established a separation of business 

activities such that common control over daily trading activity does not exist. However, 

this change in policy does not effect the requirements of Exchange Rule 8.91 Limitations 

on Dealings of Designated Primary Market-Makers with respect to associated 

accounts of Designated Primary Market-Makers. 

Permitted Activity: 

• Trading will be allowed between different market maker or other broker/dealer accounts 

that are financed by the same member when there is no common control over 

the trading activity in those accounts. 

Example: Market-Makers ABC and XYZ are each financed independently by the 

same individual, AYZ. The financing is provided to each of them either 

through a joint account, partnership, or Limited Liability Corporation. AYZ 

has no control over the trading activity in the accounts. Under this scenario, 

ABC and XYZ would be able to effect transactions as contra-parties. 

• Trading will be allowed between subsidiaries (i.e., separate broker/dealers) independently 

operated under the same parent or holding company. 

Example: ABC Trading Co. and DEF Trading Co., which are separate broker/dealers, 

are both wholly owned by XYZ Holding Co. ABC and DEF operate 

independently from each other and each has no control over the trading 

activity in the other firm’s account. XYZ Holding also has no control over 

the trading activity in either ABC or DEF’s accounts. Under this scenario, 

ABC Trading and DEF Trading would be able to effect transactions 

as contra-parties. 

Prohibited Activity: 

The following activity will continue to be prohibited under the new policy: 

• A Market maker may not trade with his joint account, even though his percentage of 

ownership is less than 100% (i.e., market maker ABC finances market maker XYZ 

via a joint account and ABC is a participant in the joint account. XYZ makes his own 

trading decisions. ABC is still prohibited from trading directly with the joint account of 

which he is a member as all joint accounts are jointly and severally liable); 



continued 


• Nominees of the same entity may not trade as contra-parties on behalf of the firm 1 ; 

• Firm traders employed by the same broker/dealer on different trading desks regardless 

of whether they are separate profit centers may not trade as contra-parties on 

behalf of the firm; 

• Spouses may not trade as contra-parties. 

Additional Considerations: 

Members should be aware that under the new policy, related entities will continue to be 

aggregated for position limit purposes unless they have been granted non-aggregation 

pursuant to Exchange Rule 4.11.03. 2 

Questions regarding this circular may be addressed to Pat Cerny at (312) 786-7722 or 

Steve Slawinski at (312) 786-7744. 

1 This prohibition also applies to members who are registered fors. 

2 Members requesting non-aggregation must demonstrate that they do not control the trading decisions of the 

market-maker or member firm entity being financed. The rule requires the submission of an affidavit and/or 

other supporting documentation to rebut the presumption of control. Trading activity is reviewed on a periodic 

basis to ascertain if similar patterns of trading decisions are apparent. 


Date: May 7, 2001 

To: Members and Member Firms 

From: Market Operations Department 

Re: Restrictions on Transactions in Priceline.com Inc. (PUZ) Rite Aid Corp. (RAD) 

Trading in specific series in Priceline.com Inc. (PUZ) and Rite Aid Corp. (RAD) has been 

restricted. The PUZ options May, June and October 5, 7 ½ and 10 and the RAD May, June 

and October 5, 7 ½ and 10 have been restricted to closing customer orders only. 

Only closing transactions may be effected in the above mentioned series in PUZ and RAD 

options, except for (i) opening transactions by market-makers executed to accommodate 

closing transactions of other market participants and (ii) opening transactions by CBOE 

member organizations to facilitate the closing transactions of public customers executed 

as crosses pursuant to and in accordance with CBOE Rule 6.74(b or d). The specific series 

mentioned in PUZ and RAD options will not be traded on RAES. 

The execution of opening transactions in the series specified in PUZ and RAD options, 

except as permitted above, and/or the misrepresentation as to whether an order is opening 

or closing, will constitute a violation of CBOE rules, and may result in disciplinary action. 

There are no restrictions in place with respect to the exercise of PUZ and RAD options and 

the Options Clearing Corporation (OCC) has advised CBOE that the expiration of PUZ and 

RAD options will remain subject to OCC’s Exercise-by-Exception Procedures. 

Any questions regarding this circular may directed to Kerry Winters at (312) 786-7312. 



continued 

Rule Changes, 

Interpretations 

and Policies 


Date: May 9, 2001 

To: Members and Member Firms 

From: Market Operations Department 

Re: Rite Aid Corp. (RAD) 

Trading restrictions in specific series in Rite Aid Corp. (RAD) have been lifted in the following 

Rite Aide series May, June and October 5, 7 ½ and 10. 

Trading will resume in all RAD series on Wednesday, May 9, 2001. 

Any questions regarding this circular may directed to Kerry Winters at (312) 786-7312. 

APPROVED RULE CHANGE(S) 

The Securities and Exchange Commission (“SEC”) has approved the following change(s) 

to Exchange Rules pursuant to Section 19(b) of the Securities Exchange Act of 1934, as 

amended (“the Act”). Copies are available from the Legal Division. 

The effective date of the rule change is the date of approval unless otherwise noted. 

SR-CBOE-01-18 – Exchange Fees 

Pursuant to Section 19(b)(3) of the Securities Exchange Act, Rule Change File No. SR- 

CBOE-01-18 became effective May 1, 2001. The filing changes the Exchange’s Marketing 

Fee to exempt certain “deep-in-the-money” options transactions from the fee. Any 

questions regarding the rule change may be directed to Christopher Hill, Legal Division, at 

312-786-7031. A copy of the filing is available from the Legal Division. 

PROPOSED RULE CHANGE(S) 

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934, as amended (“the 

Act”), and Rule 19b-4 thereunder, the Exchange has filed the following proposed rule 

change(s) with the Securities and Exchange Commission (“SEC”). A copy of the rule 

change filing(s) is available from the Legal Division. Members may submit written comments 

to the Legal Division. 

The effective date of a proposed rule change will be the date of approval by the SEC, 

unless otherwise noted. 

SR-CBOE-01-16 – Order PACER 

On March 30, 2001, the Exchange filed Rule Change File No. SR-CBOE-01-16, which 

proposes to amend CBOE Rule 6.8 to enable the appropriate Floor Procedure Committee 

to regulate the number of orders a member firm may execute through RAES. Under 

the proposal, CBOE will add a new parameter, the order PACER, to ORS that will enable 

it to modulate the frequency of executions through RAES, as described below. 

When PACER is engaged, individual member firms will be entitled to execute, in a particular 

class, one RAES order (regardless of series) on the same side of the market every 

designated number of seconds. The appropriate FPC shall determine and establish the 

length of time for the PACER interval setting on a class by class basis.* Thus, if the 

1 While the appropriate FPC shall establish the length of the PACER interval, the DPM for a particular class, 

with input from the trading crowd, shall have the ability to disengage (and reengage) the order PACER for 

that class. 


Rule Changes, 

Interpretations and 

Policies continued 

SR-CBOE-01-16 continued 

PACER interval is established at 5 seconds, each individual member firm would be entitled 

to receive one execution through RAES for all orders in all series within the same class on 

the same side of the market per 5 second interval. For purposes of this proposal, the 

following orders shall be deemed to be on the same side of the market: 

• Long calls and short puts (Bullish side of the class) 

• Short calls and long puts (Bearish side of the class) 

For example, if Firm XYZ executes an order through RAES to buy 50 AOL calls, it would be 

ineligible to receive additional RAES executions for either long calls or short puts in any 

AOL series until the PACER interval period expired. Firm XYZ orders on the opposite side 

of the market (i.e., short calls and long puts) would be eligible for execution, subject to the 

PACER parameters applicable to the opposite side of the market (i.e., one order execution 

every X seconds). Firm XYZ’s RAES-eligible orders sent through ORS that are received 

during the period the PACER interval precludes automatic execution (i.e., before X seconds 

expire), would not be routed to RAES and instead would be sent to PAR where they 

would be handled in accordance with applicable procedures. 

The PACER interval shall apply only to RAES orders that would be assigned to market 

makers via standard RAES allocation methods (e.g., the wheel or variable RAES). As 

such, the PACER interval shall not apply to RAES orders executed against EBOOK via 

ABP or ABP Split-price. As an example, if the EBOOK represents the best price for a series 

along with autoquote and ORS receives three RAES-eligible orders to buy the same series 

(submitted by the same member firm), the first order would be executed against the EBOOK 

(extinguishing the order on the book). The second order would be executed in RAES, 

activating the PACER interval timer. The third order, because it was received during the 

period the PACER interval was activated, would not receive automatic execution and instead 

would be routed to the PAR station. 

Any questions regarding the proposed rule change may be directed to Steve Youhn, Legal 

Division, at 312-786-7416. The text of the proposed rule change is set forth below. Proposed 

new language is underlined. 

Rule 6.8 RAES Operations 

(d)(vi) The appropriate Floor Procedure Committee (“FPC”) may regulate the 

frequency of executions through RAES. To regulate the frequency, the FPC may 

institute a “PACER interval” applicable to a member firm’s RAES orders on the 

same side of the market within a given class of options. The PACER interval, 

which shall be activated by an initial RAES execution, shall prohibit subsequent 

RAES executions by the same member firm on the same side of the market within 

the same class until a set amount of time (the PACER interval) expires. Upon 

expiration of the PACER interval, that member firm would again be entitled to 

receive RAES executions in that class, subject to subsequent PACER restrictions. 

The appropriate FPC shall determine the length of the PACER interval. RAESeligible 

orders received during the PACER interval shall be routed to PAR. The 

PACER interval shall not be applicable to orders that execute against EBOOK. 

When there is a large influx of orders that route from RAES that are rerouted for 

manual handling such that there are more orders than can be handled expeditiously, 

the DPM for the class, with input from the trading crowd, shall have the 

ability to disengage the order PACER for that class. When the influx of orders 

subsides such that orders may be handled expeditiously, the DPM in the affected 

class, upon receipt of approval by two Floor Officials, may reactivate PACER in the 

affected class. 

For purposes of this rule, long (short) calls and short (long) puts shall be considered 

to be on the same side of the market. 


Rule Changes, 



SR-CBOE-01-17 – Membership Rules 

On April 4, 2001, the Exchange filed Rule Change File No. SR-CBOE-01-17, which proposes 

to: 

• change the voting requirement for approval of CBOE membership applications 

by the Membership Committee to the same voting requirement that 

applies to other CBOE committee decisions, and 

• clarify that a membership owner that grants to another member an Authorization 

to Sell the membership may waive the requirement that the grantee of 

the Authorization to Sell provide at least 3 business days notice to the membership 

owner prior to exercising the grantee’s right to sell the membership. 

Any questions regarding the proposed rule change may be directed to Arthur Reinstein, 

Legal Division, at 312-786-7570. The full text of the proposed rule change is set forth 

below. Underlining indicates proposed new language; strikethrough indicates proposed 

deletions. 

Rule 3.9 Application Procedures and Approval or Disapproval 

(a) - (j) Unchanged. 

(k) [Approval of an application requires a vote of the majority of the members 

of the Membership Committee then in office.] Any applicant that is approved 

to be a member by the Membership Committee must be approved by the 

Membership Committee to perform in at least one of the recognized capacities of 

a member as stated in Rule 3.1(b). Written notice of the action of the Membership 

Committee, specifying in the case of disapproval of an application the grounds 

therefor, shall be provided to the applicant. 

(l) Unchanged. 

* * * * * 

Rule 3.14 Sale and Transfer of Membership 

(a) - (c) Unchanged. 

(d) Authorizations to Sell. The owner of a transferable membership may 

voluntarily grant to another Exchange member an Authorization to Sell the membership. 

Authorizations to Sell shall be subject to the following provisions: 

(i) An Authorization to Sell shall be effective only if it has been 

executed on a form prescribed by the Exchange and filed with the Membership 

Department. 

(ii) A membership owner may not grant an Authorization to Sell a 

particular membership to more than one member. 

(iii) The grantee of an Authorization to Sell shall have all of the authority 

granted under the Constitution and Rules relating to the sale of 

the membership that would otherwise be vested in the membership 

owner, including the sole authority to determine whether and when to 

submit an offer to sell the membership in accordance with the provisions 

of paragraph (a) of this Rule. Notwithstanding the foregoing, unless the 

following notice requirement is waived as described below, a grantee of 

an Authorization to Sell must (A) notify the membership owner in writing 

at least 3 business days prior to exercising the grantee’s right to sell the 


Rule Changes, 




membership of any decision by the grantee to exercise that right and (B) 

provide the Membership Department with written verification in a form 

and manner prescribed by the Exchange that the required notice has been 

provided to the membership owner. The membership owner may waive 

the foregoing notice requirement in a form and manner prescribed by the 

Exchange. 

(iv) A membership owner that has granted an Authorization to Sell 

shall have no authority to direct the sale or transfer of the membership. 

An Authorization to Sell shall be irrevocable and may only be canceled if 

the grantee of the Authorization to Sell consents to its cancellation in a 

form and manner prescribed by the Exchange. 

(v) When a membership owner has granted an Authorization to Sell 

a membership, the Exchange shall take direction solely from the grantee 

of the Authorization to Sell with respect to matters relating to the sale of 

the membership. Notwithstanding the foregoing, a membership owner 

and a grantee may have a written contract between them which sets forth 

the circumstances under which the grantee may exercise the grantee’s 

authority to sell the membership, and any breaches of this written contract 

may be redressed through arbitration under Chapter XVIII of the Rules or 

through other means permitted by that Chapter. The membership owner 

and the grantee shall promptly file with the Membership Department a 

copy of any such contract and any amendments thereto. 

(vi) In the event a grantee of an Authorization to Sell exercises the 

grantee’s right to sell the membership by submitting an offer to sell the 

membership in accordance with the provisions of paragraph (a) of this 

Rule, the grantee may not be the purchaser of the membership and no 

bid submitted by the grantee pursuant to Rule 3.13(b) shall be matched 

with the offer to sell the membership unless the membership owner consents 

in a form and manner prescribed by the Exchange to having the 

grantee be the purchaser of the membership. 

(vii) Following the receipt by the Membership Department of an Authorization 

to Sell that has been granted by a member, a cancellation of 

the Authorization to Sell, or a contract concerning the exercise of authority 

under the Authorization to Sell, the Membership Department shall provide 

a copy of the applicable document to any Clearing Member that guarantees 

the member’s Exchange transactions. 

(viii) The grant of an Authorization to Sell a membership shall include 

the grant of a security interest (A) in any proceeds from the sale of the 

membership that the grantee of the Authorization to Sell is entitled to receive 

pursuant to Rule 3.15(b) and (B) in the membership to the extent 

necessary to establish the priority of the preceding security interest in 

such proceeds. A properly executed Authorization to Sell form that has 

been filed with the Membership Department shall constitute a security 

agreement which grants the foregoing security interest to the grantee of 

the Authorization to Sell. The grantee of an Authorization to Sell may act 

to perfect the foregoing security interest under applicable law, which may 

include the filing of one or more UCC-1 Financing Statements. However, 

failure by a grantee of an Authorization to Sell to perfect the foregoing 

security interest under applicable law shall not affect the rights of the grantee 

under the Rules. In the event of a cancellation of an Authorization to Sell 

pursuant to paragraph (d)(iv) of this Rule, the grantee of the Authorization 

to Sell shall promptly file a Termination Statement with every filing author- 


Rule Changes, 




ity where UCC-1 Financing Statements were filed with respect to the 

Authorization to Sell. The grantee of an Authorization to Sell shall promptly 

file with the Membership Department a file-stamped copy of any UCC 

filings made with respect to the Authorization to Sell. 

SR-CBOE-01-19 – Trades Executed at a Clearly Erroneous Price 

On April 11, 2001, the Exchange filed Rule Change File No. SR-CBOE-01-19, which 

proposes to adopt new Rule 6.25 to allow for clear authority for Floor Officials to nullify 

trades executed through open outcry. Specifically, the Exchange proposes to permit two 

Floor Officials to nullify (“bust”) a transaction or adjust its terms if they determine the 

transaction was executed at a clearly erroneous price. Currently, Interpretation .05 of 

CBOE Rule 6.20, which also pertains to open outcry transactions, provides Floor Officials 

with authority to bust or adjust a trade if it was executed in violation of certain CBOE rules, 

without specifying the criteria to be used by Floor Officials in determining to bust a trade or 

adjust its terms. The Exchange believes it is necessary to clarify in a separate rule that 

two Floor Officials have authority to bust or adjust a trade if the transaction was executed 

at a clearly erroneous price. The proposed amendment would grant Floor Officials the 

same authority for open outcry transactions as currently is provided for transactions executed 

on RAES in Rule 6.8(a)(ii), and as proposed in SR-CBOE-01-04 pertaining to 

ROS. 

Any questions with respect to the proposed new rule may be directed to Tim Thompson, 

Legal Division, at 312-786-7070. The full text of the proposed rule is set forth below. 

Rule 6.25 Trade Adjustments and Nullification 

Two floor officials may nullify a transaction or adjust its terms if the transaction 

was executed at a clearly erroneous price. Floor Officials should make every 

effort to notify parties to a transaction that the transaction may be adjusted or 

busted as soon as they become aware that the particular transaction may have 

been executed at an erroneous price. 

SR-CBOE-01-20 – Prohibition Against Members Functioning as Market-Makers 

On April 11, 2001, the Exchange filed Rule Change File No. SR-CBOE-01-20, which 

proposes to adopt new Rule 6.8C, Prohibition Against Members Functioning as Market- 

Makers, which will restrict the entry of certain option limit orders into ORS. The proposed 

new rule provides that member firms, acting as either principal or agent, may neither enter 

nor permit the entry of orders into ORS if the orders are limit orders for the account or 

accounts of the same beneficial owners and the limit orders are entered in such a manner 

that the beneficial owner(s) effectively is operating as a market maker by holding itself out 

as willing to buy and sell such securities on a regular or continuous basis. In determining 

whether a beneficial owner effectively is operating as a market-maker, the Exchange will 

consider, among other things, the simultaneous or near simultaneous entry of limit orders 

to buy and sell the same security; the multiple acquisition and liquidation of positions in the 

security during the same day; and the entry of multiple limit orders at different prices in the 

same security. 

Any questions with respect to the proposed new rule may be directed to Tim Thompson, 

Legal Division, at 312-786-7070. The full text of the proposed rule is set forth below. 

Rule 6.8C Prohibition Against Members Functioning as Market-Makers 

(a) Member firms, acting as either principal or agent, may neither enter nor permit 

the entry of orders into the Exchange’s electronic Order Routing System if (i) 

the orders are limit orders for the account or accounts of the same beneficial 


Rule Changes, 



Arbitration 

Awards 


owner(s) and (ii) the limit orders are entered in such a manner that the beneficial 

owner(s) effectively is operating as a market maker by holding itself out as willing 

to buy and sell such securities on a regular or continuous basis. 

(b) In determining whether a beneficial owner effectively is operating as a market 

maker, the Exchange will consider, among other things, the simultaneous or near 

simultaneous entry of limit orders to buy and sell the same security; the multiple 

acquisition and liquidation of positions in the security during the same day; and the 

entry of multiple limit orders at different prices in the same security. 

ARBITRATION AWARDS 

Pursuant to Exchange Rule 18.31, Arbitration Awards, for claims filed after September 1, 

1989, are publicly available, provided that the name of a public customer will be withheld 

upon the written request of the customer. Upon written request, copies of Awards are 

available from the Arbitration Department. 

Summaries of all Awards are published in the Regulatory Bulletin. In addition, all Awards 

are provided to the Securities Arbitration Commentator and Glasser Legal Works. Awards 

involving public customers are reported to the Central Registration Depository (CRD). 

Questions regarding arbitration may be directed to the Arbitration Department at 312-786- 

7466 or 312-786-7461. 

Case Name: Saliba Partners, LLC, John Saliba and Anthony Saliba v. 

LETCO Trading, L.P., Lee Tenzer, Scott Kilrea, John Robinson 

Joseph Fahrenbach and Michael Riley 

Case Number: 00M006 

Date Received: August 23, 2000 

Summary of Issues: Breach of Contract 

Amount in Dispute: $11,400,000 

******* 

Counterclaim: Breach of Contract 

Amount in Dispute: $150,000 

******* 

Award on Claim: Parties ordered to terminate their business relationship 

pursuant to specific procedures. 

Award on Counterclaim: $0 

Award Issued: March 15, 2001

CBOE Exchange and Regulatory Bulletin - CBOE.com

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