The American Stock Exchange trades Fixed Return Options (FROs) on a number of securities. Fixed Return Options (FROs) are exchange traded binary or "cash or nothing" options based on an underlying security such as a stock or ETF. There are two types of FROs: Finish High^SM FROs and Finish Low^SM FROs. At expiration, an in-the-money FRO pays the holder of the option $100.00 per contract. For example, the holder of the XYZ June 20 Finish High FRO would receive $100.00 at expiration if the Amex FRO Settlement Index^SM on the last trading day prior to expiration for XYZ was $20.01 or higher. If the Amex FRO Settlement Index closed at $20.00 or lower, the holder of the XYZ June 20 Finish High FRO would receive $0.00.

For more information, contact the Amex Options Department at FROinfo@amex.com.