Description of Index	The Nasdaq Biotechnology Index contains companies primarily engaged in using biomedical research for the discovery or development of novel treatments or cures for human disease which also meet other eligibility criteria. The Nasdaq Biotechnology Index is calculated under a modified capitalization weighted methodology. On November 1, 1993, the Nasdaq Biotechnology Index began with a base of 200.00.
Components	The Nasdaq Biotechnology 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	Three 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 the 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	Calculated on the last business day before expiration, usually a Friday. Determined based on the NASDAQ Official Opening Price when an opening cross exists. When an opening cross does not occur at the open, NASDAQ designates the NASDAQ Official Opening Price based on the first eligible trade execution that day. If a stock does not trade on a given day, the previous day's close is used in the calculation.
Settlement of Exercise	Next business day following expiration.
Position Limits	31,500 contracts on the same side of the market.
Minimum Customer Margin For Uncovered Writers	100% of the market value of the option plus 20% 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 4:00 p.m., New York time.
Trading System	Specialist/Registered Options Trader.
Trading Symbol	NBI
Final Settlement Value Symbol	NBZ