Description of Index	The Standard & Poor's MidCap 400 Index measures the performance of the mid-range sector of the U.S. stock market. The Index is based on 400 stocks chosen on the basis of market capitalization, liquidity and industry group representation. The S&P MidCap Index is market value (capitalization) weighted. The MidCap Index was introduced on June 19, 1991.
Components	The Standard & Poor's MidCap 400 Index.
Trading Unit	The minimum trade size is one option contract. The notional value underlying each contract equals $100 multiplied by the Index value.
Expiration Cycle	Four consecutive near-term expiration months plus two successive months from the March cycle.
Expiration	The Saturday following the third Friday of the expiration month.
Last Trading Day	Two business days prior to expiration (normally a Thursday).
Exercising Options	European style. Options may be exercised only on the last business day prior to expiration (normally a Friday). Writers are subject to assignment only at expiration. Check with your broker to ascertain cut-off times for exercise and provisions for automatic exercise.
Delivery Method if Exercised	Cash settlement based on the dollar difference between the final settlement value of the Index and strike price of the contract multiplied by $100.
Exercise Price Intervals	Exercise (strike) prices are set at $5.00 intervals, bracketing the current value of the Index, when the Index is above 200. If the Index is below 200, the interval will be $2.50.
Option Premium Quotations	Stated in dollars and cents. Minimum price variant $0.05 (nickel) for series trading under $3.00 and $0.10 (dime) for series trading $3.00 and above.
Index Settlement Value	Determined on the last business day prior to expiration, based on the first (opening) reported sale price for each component stock.
Settlement of Exercise	Next business day following expiration.
Position Limits	45,000 contracts on the same side of the market, provided that no more than 25,000 of such contracts are in the nearest expiration month series.
Minimum Customer Margin for Uncovered Writers	100% of the market value of the option plus 15% of the aggregate Index value less any out-of-the-money amount, subject to a minimum of 100% of the market value of the option plus 10% of the aggregate Index value.
Trading Hours	9:30 a.m. to 4:15 p.m., New York time.
Trading System	Specialist/Registered Options Trader.
Trading Symbol	MID
Final Settlement Value Symbol	MIV