Trading Hours: 8:25 a.m. to 2:25 p.m., New York time.

Trading Symbol: SO

Underlying Asset: One COMEX Silver futures contract.

Contract Months: The nearest four of the following contract months: March, May, July, September, and December. Additional contract months January, February, April, June, August, October and November - will be listed for trading for a period of two months.

Min Price Fluctuation: Price changes are registered in multiples of one tenth of one cent ($.00 1 ) per troy ounce.

Strike Price Intervals: $.25/oz. apart for strike prices below $8.00

$.50/oz. apart for strike prices between $8.00 and $15.00

$1.00/oz. apart for strike prices above $15.00

On the first day of trading for any option contract month, there will be thirteen strike prices each for puts and calls.

Expiration: Second Friday of the month prior to the delivery month of the underlying futures contract.

Exercise: Until 3:00 p.m., New York trifle, on any business day for which the option is listed for trading. On expiration day, the buyer has until 4:00 p.m., New York time, to exercise an option.

: Upon exercise, option holders receive the appropriate short or long COMEX silver futures contract by way of a book entry. Writers of options who receive a notice of exercise are assigned the opposite futures position.