Equity FLEX options are designed to extend investor access to customized derivative products. With Equity FLEX options, investors are able to set key contract terms like exercise prices, exercise styles, and expiration dates, and to trade in size, with no position or exercise limits.

At the American Stock Exchange, Equity FLEX options are traded on certain common stocks, American Depositary Receipts, exchange traded funds and HOLDRS.

A minimum of 150 contracts or $1 million notional value (i.e., strike price=$100 then notional value=$10,000/contract which would require a minimum of 100 contracts) is required to open a new Equity Flex Option Series.

A minimum of 100 contracts is required to establish additional opening positions in an existing Equity Flex Series. For closing transactions the minimum is 25 contracts or the remaining opening interest.

Contract Specification
All options contracts traded on the NYSE Amex Options and other national securities exchanges are issued, guaranteed, and cleared by The Options Clearing Corporation (OCC). The OCC is a registered clearing agency with the Securities and Exchange Commission and has received an AAA rating from Standard & Poor's Corporation for its ability to fulfill its obligations as the counterparty for options trades.