April 1, 1998
Exchange Bulletin
Volume 26, Number 13
The Constitution and Rules of the Chicago Board Options Exchange, Incorporated ("Exchange"), in certain specific instances, require the Exchange to provide notice to the Exchange membership. To satisfy this requirement, a complimentary copy of the Exchange Bulletin, including the bi-monthly Regulatory Bulletin, is provided to all individual members and nominees of member organizations on a weekly basis. Additional subscriptions may be obtained by submitting your name, firm, address and telephone number to: Chicago Board Options Exchange, Attention: Marketing Department, 400 South LaSalle, Chicago, Illinois 60605. The cost of an annual subscription (July 1 through June 30) is $100.00, ($50.00 after January 1) payable in advance. Non-members are welcome to subscribe.
MEMBERSHIP INFORMATION FOR March 19, 1998 THROUGH March 25, 1998 Members are required to report any address or telephone number changes to the Membership Department at (312) 786-7449 pursuant to Exchange Rule 3.6(b). For Seat Market Quotes, call (312) 786-7456.
SEAT MARKET QUOTES as of March 27, 1998
SEAT MARKET QUOTES as of February 28, 1997
Bid:
$650,000.00
Bid:
$735,000.00
Offer:
$708,000.00
Offer:
$745,000.00
Last Sale:
$735,100.00 on February 27, 1998
Last Sale: $715,000.00 on March 19, 1998
OPTION TRADING PERMIT- LEASE POOL as of March 27, 1998 Highest Bid:
$2,750.00
Highest Monthly Rate:
$5,300.00
OTP's Available:
None
Lowest Monthly Rate:
$2,800.00
Last Lease:
$5,300.00
Membership Sales and Transfers This notice is given pursuant to Rules 3.15 and 3.16 which permit certain types of claims to be filed with the Membership Department within 20 days from the date of this Exchange Bulletin. From
To
Price/Transfer
Date
Magesty Capital Corp.
The Arbitrage Group, L.P.
$715,000
03/23/98
Page 2
April 1, 1998
Volume 26, Number 13
The Chicago Board Options Exchange Bulletin
MEMBERSHIP APPLICATIONS RECEIVED This notice is given persuant to Exchange Rule 3.9. Please send any comments to the Membership Committee in care of the Membership Department.
Individual Member Applicants
Date Posted
Christopher J. Revord, CBT Individual 1849 N. Hudson Chicago, IL 60614
03/19/98
James I. Martinelli, Nominee AMBO General Partnership 55 Farnham Lane Lake Forest, IL 60045
03/19/98
Phillip M. Galles, Nominee Third Millennium Trading Llp 5712 S. Normandy Chicago, IL 60638
03/20/98
David Rothberg, Nominee Praxis Partners I Limited Partnership 29 Tioga Pass Short Hills, NJ 07078
03/20/98
John P. Stowick, Nominee U.S. Clearing Corp. 313 Rimini Court - 2B Palatine, IL 60067
03/23/98
Alec D. Pashknow, Nominee Spear, Leeds & Kellogg 842 W. Webster Chicago, IL 60614
03/24/98
Daryl T. Stucka, CBT Individual 1502 W. Harrison - Apt. 3B Chicago, IL 60607
03/25/98
Lessor: Lessee:
Lessor: Lessee: Rate:
03/19/98
David M. Maytnier Anteros Capital Markets L.L.C. Cynthia P. Francque, NOMINEE 1 1/8% Term:
Monthly 03/19/98
Term:
Rate:
Gedon Hertshten Wolverine Trading L.P. Mark H. Carnow, NOMINEE 1 1/8% Term:
Lessor: Lessee: Rate:
Edward H. Brown Bradley S. Joselit 1 1/8%
Lessor: Lessee:
Opcor, Incorporated Susquehanna Securities Robert Lawrence Wilson, NOMINEE 1 1/8% Term:
Rate:
Lessor: Lessee:
Rate:
Lessor: Lessee:
Lessor: Lessee:
Lessor: Lessee:
Rate:
Effective Date
Rate:
Lessor: Lessee:
Rate:
New Leases
Marathon Securities, Inc. BOTTA Trading, Inc. Jay J. Ritz, NOMINEE 1 1/4%
Lessor: Lessee:
Rate:
This notice is given pursuant to Exchange Rules 3.15 and 3.16 which permit certain types of claims to be filed with the Membership Department within 20 days from the date of this Exchange Bulletin.
Lessor: Lessee:
Rate:
Rate:
MEMBERSHIP LEASES
Rate:
Lessor: Lessee:
Monthly
Robert E. Tutwiler The Arbitrage Group, L.P. Jeffrey M. Katz, NOMINEE 1 1/8% Charles W. Howard GPZ Trading, L.L.C. David R. Tilley, NOMINEE 1 1/8%
Effective Date 03/23/98
Five Days 03/23/98
Term:
Monthly 03/23/98
Term:
Aaron Karsen Arbitrade, L.L.C. Michael A. Montin, NOMINEE 1 1/8% Term: Larkspur Securities, Inc. CTC LLC Thomas J. Pradd Jr., NOMINEE 1 1/8% Term: Steven V. Taitel CTC LLC John J. Watrous, NOMINEE 1 1/8% Term: Joseph A. Pirus CTC LLC Michael M. Mayor, NOMINEE 1 1/8% Term:
Monthly 03/23/98
Monthly 03/25/98
Monthly 03/25/98
Monthly 03/25/98
Monthly
Terminated Leases
Termination Date
Lessor: Lessee:
Marathon Securities, Inc. Erich Herman Teske(EHT)
03/19/98
Lessor: Lessee:
Gedon Hertshten Cooper Neff & Associates, L.P.
03/19/98
Lessor: Lessee:
David M. Maytnier 03/19/98 DBS Partners L.P. Robert D. Kallay III.(DAC), NOMINEE
Lessor: Lessee:
Edward H. Brown Joseph D. Heard Jr., Inc.
03/19/98
Lessor: Lessee:
Scott S. Samuelson Pyramid Capital, L.L.C.
03/20/98
Lessor: Lessee:
Opcor, Incorporated Hull Trading Company, L.L.C.
03/23/98
Lessor: Lessee:
Aaron Karsen William P. Lattner(LTT)
03/23/98
Lessor: Lessee:
Robert E. Tutwiler Cooper Neff & Associates, L.P.
03/23/98
Lessor: Lessee:
Magesty Capital Corp. GPZ Trading, L.L.C. David R. Tilley(TLE), NOMINEE
03/23/98
Lessor: Lessee:
Charles W. Howard Professional Edge Fund, L.P.
03/23/98
Lessor: Lessee:
Larkspur Securities, Inc. Lakota Trading, Inc.
03/25/98
03/19/98
Monthly 03/19/98
Term:
David M. Ofman DBS Partners L.P. Daniel M. Kerrane, NOMINEE 1 1/8% Term:
Monthly 03/23/98
Monthly
April 1, 1998
Volume 26, Number 13
The Chicago Board Options Exchange Bulletin
Termination Date
Termination Date Lessor: Lessee:
Steven V. Taitel Refco Securities, Inc. John J. Watrous(JNW), NOMINEE
03/25/98
Lessor: Lessee:
Joseph A. Pirus Refco Securities, Inc. Michael M. Mayor (MAY), NOMINEE
03/25/98
MEMBERSHIP TERMINATIONS Individual Members
Phillip M. Galles (LIP) Joseph D. Heard Jr., Inc. 440 S. LaSalle Ste. 3100 Chicago, IL 60605
03/23/98
Stephen M. Thurer (TSV) Susquehanna Investment Group 141 W. Jackson-Ste 2201a Chicago, IL 60604
03/25/98
Member Organizations Termination Date
CBT Exercisers: Stephen M. Kosanovich (BGY) 2116 Sheridan Rd. Highland Park, IL 60035
Page 3
BOG Partnership Five 419 Berkshire Crystal Lake, IL 60014
03/20/98
03/23/98
EFFECTIVE MEMBERSHIPS This notice is given pursuant to Exchange Rule 3.11.
CBT Registered For:
Individual Members
Ronald J. Lejman (RON) BOG Partnership Five 440 S. LaSalle, Ste. 619 Chicago, IL 60605
03/20/98
Jeffrey E. Woodring (WDI) Hull Trading Company, L.L.C. 311 S. Wacker - 14th Floor Chicago, IL 60606
03/23/98
David A. Handberg (WAV) RPS Trading L.P. 440 S. LaSalle - Ste 1600 Chicago, IL 60605
03/24/98
Effective Date
CBT Registered For: Paul J. Schranz (PJS) Dennis P. Flynn, Inc. 440 Chicago Ave. Clarendon Hills, IL 60514 Type of Business to be Conducted: Market Maker
03/19/98
Kevin D. Burt (KBX) 03/19/98 Hull Trading Company L.L.C. 311 S. Wacker - Ste. 1400 Chicago, IL 60605 Type of Business to be Conducted: Market Maker, Floor Broker
Erich Herman Teske (EHT) 2229 N. Fremont Street Chicago, IL 60614
03/19/98
Keith B. Cooksey (CKY) 03/20/98 LFG, L.L.C. 440 S. LaSalle - Ste. 1305 Chicago, IL 60605 Type of Business to be Conducted: Market Maker, Floor Broker
William P. Lattner (LTT) 440 S. LaSalle-Ste 700 Chicago, IL 60605
03/23/98
Lessee(s):
Lessee(s):
Bradley S. Joselit (LGG) 411 W. Ontario - Apt 720 Chicago, IL 60610 Type of Business to be Conducted: Market Maker
Membership Owner(s): David M. Ofman (OFF) 440 S. LaSalle-Ste 2110 Chicago, IL 60605
03/19/98
03/23/98
Nominee(s)/Inactive Nominee(s):
Nominee(s)/Inactive Nominee(s): Michael P. Marchese (KZE) TFM Investment Group 440 S. LaSalle - Ste. 1651 Chicago, IL 60605
03/19/98
Kevin M. O’Connor (MKO) Pyramid Capital, L.L.C. 440 S. LaSalle - Ste. 600 Chicago, IL 60605
03/19/98
Robert D. Kallay III. (DAC) Dbs Partners L.P. 1802-F W. Diversey Pkwy Chicago, IL 60614
03/19/98
Matthew E. Anderson (MEA) Cole Roesler Traders L.P 2028 N. Larrabee St. Chicago, IL 60614
03/19/98
Cynthia P. Francque (CXP) Anteros Capital Markets L.L.C. 30 S. Wacker Dr., Suite 1502 Chicago, IL 60606 Type of Business to be Conducted: Market Maker
03/19/98
Jay J. Ritz (RIZ) BOTTA Trading, Inc. 440 S. LaSalle, STE. 3100 Chicago, IL 60605 Type of Business to be Conducted: Market Maker
03/19/98
Page 4
April 1, 1998
Volume 26, Number 13
Mark H. Carnow (MRC) Wolverine Trading L.P. 311 S. Wacker Dr., Ste. 1875 Chicago, IL 60606 Type of Business to be Conducted: Market Maker
Effective Date 03/19/98
Michael A. Montin (GBT) Arbitrade, L.L.C. 440 S. LaSalle, Ste. 3010 Chicago, IL 60605 Type of Business to be Conducted: Market Maker
03/23/98
Bradley W. Grant (BWG) Smith Barney Inc 401 S. LaSalle St. Chicago, IL 60605 Type of Business to be Conducted: Floor Broker
03/23/98
Robert Lawrence Wilson (BOB) Susquehanna Securities 141 W. Jackson Blvd., Ste 2201-A Chicago, IL 60604 Type of Business to be Conducted: Market Maker
03/23/98
Jeffrey M. Katz (KAT) The Arbitrage Group, L.P. 1130 N. Dearborn, #1506 Chicago, IL 60610 Type of Business to be Conducted: Market Maker
03/23/98
Thomas J. Pradd Jr. (TJP) CTC LLC 111 West Jackson, 18th Floor Chicago, IL 60605 Type of Business to be Conducted: Market Maker
03/25/98
The Chicago Board Options Exchange Bulletin Effective Date 03/19/98
Jay J. Ritz
QWT
Kevin D. Burt
QLL
03/19/98
Indranil D. Mukherjee
QOX
03/23/98
Thomas F. Jennings
QOX
03/23/98
Charles A. Maylee
QOX
03/23/98
Michael A. Montin
QPZ
03/23/98
Michael A. Montin
QUN
03/23/98
Jeffrey M. Katz
QCB
03/23/98
Robert Lawrence Wilson
QGS
03/23/98
John P. Robinson
QHB
03/24/98
Matthew W. Kingsbury
QQL
03/24/98
John F. Schuler
QGN
03/24/98
Thomas J. Pradd Jr.
QRI
03/25/98
Jeffrey A. Wotton
QCF
03/25/98
Dennis P. Flynn
QPJ
03/19/98
Paul J. Schranz
QPJ
03/19/98
Kevin M. Luthringshausen
QQK
03/19/98
Vincent E. Florack
QQK
03/19/98
John F. Schuler
QQK
03/19/98
Jay J. Ritz
QQK
03/19/98
Scott I. Bauer
QQK
03/19/98
Michael B. Frazin
QQK
03/19/98
Kevin M. Luthringshausen
QLY
03/19/98
Vincent E. Florack
QLY
03/19/98
John F. Schuler
QLY
03/19/98
Jay J. Ritz
QLY
03/19/98
Scott I. Bauer
QLY
03/19/98
New Accounts
Jeffrey A. Wotton (HFE) 03/25/98 Felt Trading Limited Partnership 1001 W. Belmont - Apt. 503 Chicago, IL 60657 Type of Business to be Conducted: Market Maker, Floor Broker
Member Organizations CTC L.L.C. 03/25/98 440 S. LaSalle - Ste. 2800 Chicago, IL 60605 Type of Business to be Conducted: associated with a Market Maker
JOINT ACCOUNTS This notice is given pursuant to Exchange Rule 8.9.
New Participants
Acronym
Effective Date
Cynthia P. Francque
QAP
03/19/98
Michael B. Frazin
QLY
03/19/98
Jay J. Ritz
QGN
03/19/98
John S. Stafford Jr.
QCU
03/23/98
Jay J. Ritz
QSK
03/19/98
Christopher J. Revord
QCU
03/23/98
Jay J. Ritz
QNK
03/19/98
Susan P. Gulotta
QHU
03/25/98
Jay J. Ritz
QIN
03/19/98
Todd A. Needlman
QHU
03/25/98
Mark H. Carnow
QWV
03/19/98
Terminated Participants
Acronym
John F. Schuler
QWT
03/19/98
Robert D. Kallay III.
QDB
Vincent E. Florack
QWT
03/19/98
Termination Date 03/19/98
April 1, 1998
Volume 26, Number 13
The Chicago Board Options Exchange Bulletin
Termination Date Charles A. Maylee
QCL
03/20/98
Jeffrey E. Woodring
QLL
03/23/98
Brett A. Keeshin
QDJ
03/23/98
Craig S. Coan
QDJ
03/23/98
Richard L. Lakin
QDJ
03/23/98
Christopher J. Revord
QOX
03/23/98
Peter H. Schulte
QOX
03/23/98
Stephen M. Thurer
QDP
03/25/98
Stephen M. Thurer
QEW
03/25/98
Stephen M. Thurer
QEX
03/25/98
Stephen M. Thurer
QFS
03/25/98
Stephen M. Thurer
QGS
03/25/98
Stephen M. Thurer
QIG
03/25/98
Stephen M. Thurer
QLO
03/25/98
Stephen M. Thurer
QNA
03/25/98
Stephen M. Thurer
QSM
03/25/98
Stephen M. Thurer
QNY
03/25/98
CHANGES IN MEMBERSHIP STATUS Individual Member Applicants
Effective Date
David M. Ofman 03/20/98 From: Membership Owner; Market Maker, Floor Broker To: Lessor to DBS Partners, L.P.; Richard J. Iwanski 03/23/98 From: CBT Exerciser Registered For GPZ Trading, L.L.C.; Market Maker To: CBT Exerciser; Market Maker Michael M. Mayor 03/25/98 From: Nominee For Refco Securities, Inc.; Market Maker To: Nominee For CTC LLC; Market Maker John J. Watrous 03/25/98 From: Nominee For Refco Securities, Inc.; Market Maker To: Nominee For CTC LLC; Market Maker Paul Kepes 03/25/98 From: CBT Exerciser Registered For Refco Securities; Inc.; Market Maker To: CBT Exerciser Registered For CTC LLC; Market Maker Andrew W. Hall 03/25/98 From: CBT Exerciser Registered For Refco Securities, Inc.; Market Maker To: CBT Exerciser Registered For CTC LLC; Market Maker
Page 5
MEMBER ADDRESS CHANGES Individual Members
Effective Date
Eunshik L. Cho STAFFORD TRADING ATTN: E. LEE CHO 230 S. LaSalle St., STE 688 Chicago, IL 60604
03/19/98
Stephen M. Kosanovich 2116 Sheridan Rd. Highland Park, IL 60035
03/20/98
Joseph G. Heilmann 1450 N. Astor #9A Chicago, IL 60610
03/20/98
Timothy M. Murphy 1858 N. Wilmot Chicago, IL 60647
03/24/98
Rosalia Wilde R.R 3 Box 104D Battle Lake, MN 56515
03/24/98
John J. Watrous CTC, L.L.C. 111 W. Jackson Blvd., #1800 Chicago, IL 60604
03/24/98
James T. Anstrand 10749 S. Longwood Dr. Chicago, IL 60643-3310
03/25/98
Matthew P. Hagen 1117 N. Dearborn, #516 Chicago, IL 60610
03/25/98
Joseph Ray 2804 N. 46th Ave., #C526 Hollywood, FL 33021
03/25/98
Frederick A. Gahl 269 Vine Ave. Lake Forest, IL 60045
03/25/98
William R. Power 2735 N. Pine Grove Ave. Chicago, IL 60614
03/25/98
Dipen K. Mehta 230 S. LaSalle, Ste. 688 Chicago, IL 60604
03/25/98
Daniel M. Weber 230 S. LaSalle, Ste 688 Chicago, IL 60604
03/25/98
Kevin J. Muench 103 Babcock Dr. Palatine, IL 60067
03/25/98
James G. Gilmore, Jr. 9 Siskiwit Circle Madison, WI 53719
03/25/98
James M. Eade 440 S. LaSalle Ste, #2800 Chicago, IL 60605
03/25/98
Page 6
April 1, 1998
Volume 26, Number 13 Effective Date 03/25/98
Christopher J. Delaney 30 S. Wacker, Ste #1413 Chicago, IL 60606
Member Organizations
The Chicago Board Options Exchange Bulletin Effective Date 03/25/98
R. Whiting, Incorporated Attn: Rosalia Whiting R.R. 3 Box 104D Battle Lake, MN 56515
Effective Date
MEMBER NAME CHANGES Commercial Crush Inc Attn: William R. Power 2735 North Pine Grove Avenue Chicago, IL 60614
03/25/98
Individual Members
Effective Date
From: To:
03/20/98
The Helios Group Chicago L.L.C. Anteros Capital Markets L.L.C.
INFORMATION CIRCULARS Information Circular IC98-98-23 Date:
March 26, 1998
To:
Members, Member Firms
From:
CBOE Badge & Jackets Department
Re:
New Badging System
Effective Wednesday, April 1st there will be a new badge making system in production. This system will create the access badge, acronym badge and a new badge type, called an ID function badge (which is to be worn by all non-member floor staff). The acronym badge and ID function badge will have pictures on them and it will be required that these badges are displayed whenever personnel are on the trading floor. The badge re-issuance process is scheduled to occur during the months of April and May. Please note - that the process will be flexible such that pictures can be taken and people can either wait the 8-10 minutes for processing or return the next day to pick up their new badges. Please make arrangements for all staff with CBOE trading floor access to stop by the Badge & Jackets office during the time of 9:00 a.m. to 2:30 p.m. and as scheduled below: All staff whose last name begins with: A through E: April 6th - April 17th F through K: April 20th - May 1st L through Q: May 4th - May 15th R through Z: May 18th - May 29th Please call Nancy Ritchey (tele: 786-7858) at the Badge & Jackets office with questions. Your cooperation in this process will be greatly appreciated.
Position Limits For all equity options classes except those listed below, the standard position and exercise limits pursuant to Exchange Rule 4.11 and 4.12 will be applicable. For a complete list of all applicable lists, check 2nd floor data information bins or contact the Department of Market Surveillance. Class BAQ/BAW HBI/WNU IR/IRU NLQ PIR/PZW QST/QZT RAQ/WYH WYH/RAQ BKS CA/CWA CVZ/PMZ HHX/HRC HRC/HHX IBC IMG KZQ/KZY PWJ/PWZ QOE/QZE OWN/ZIT ROK/ROX SCI SFY/SYF SFV SUB/SUV TEO USI/IRZ AGE
Limit 10,500 contracts 7,500 contracts 1,575,000 shares 50,000 contracts 1,125,000 shares 1,125,000 shares 3,445,000 shares 3,445,000 shares 15,000 contracts 3,750,000 shares 2,584,000 shares 3,382,000 shares 3,382,000 shares 9,000 contracts 459,000 shares 2,000,000 shares 1,575,000 shares 463,500 shares 1,125,000 shares 10,500 contracts 21,000 contracts 750,000 shares 9,000 contracts 1,125,000 shares 15,000 contracts 1,125,000 shares 1,125,000 shares
Date 3/21/98 3/21/98 3/21/98 3/21/98 3/21/98 3/21/98 3/21/98 3/21/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 4/18/98 5/16/98
Class BQF CDN CWQ DLP/DLU FTZ/IGL HMA/HMZ HRS IGL/FTZ LM/LYM MZY/OFQ/OFZ NOI OFQ/QFZ/MZY QVY RKQ RWQ/RZW SEI VFC VX/VPQ WPI XRQ YPQ/VX AKS CKR/CKY DSZ/WAC FXH/QVS GMH/GUZ HQR/HZR
Limit 21,000 contracts 50,000 contracts 50,000 contracts 997,500 shares 15,000 contracts 1,575,000 shares 15,000 contracts 15,000 contracts 598,500 shares 3,603,000 shares 9,000 contracts 3,603,000 shares 15,000 contracts 21,000 contracts 937,500 shares 9,000 contracts 15,000 contracts 2,500,000 shares 21,000 contracts 9,000 contracts 2,500,000 shares 9,000 contracts 825,000 shares 990,000 shares 900,000 shares 10,500 contracts 7,500 contracts
Date 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 5/16/98 6/20/98 6/20/98 6/20/98 6/20/98 6/20/98 6/20/98
April 1, 1998
Volume 26, Number 13
Class
Limit
OCN WAI/WZA KHQ/KHW NT QVS/FXH UQD BQR/FLT CQM/NWY ECL ENZ/ENX EQD/EZD MEA MOQ/MOZ NWY/CQM ORG/ORY PQO QIG/TWZ QRT QTP/ZTP TCB TWZ/QIG VXQ YQC IOM KOZ/PPZ/PRH MHQ PRH/PPZ/KOZ QAG QRI/RIU REGI SFE/SGZ CSC FQB/FXB ICN QDA/QXA XSQ/XYQ WH/WHZ BJS BQB/BZB CCN/CXN CTX FQW/FWW IQL QTH QWA FRX SGQ SYY HQR/HZR AAL/VHW BA/WBO/VBO
9,000 contracts 7,500 contracts 1,575,000 shares 21,000 contracts 900,000 shares 15,000 contracts 2,927,500 shares 3,320,000 shares 15,000 contracts 472,500 shares 937,500 shares 15,000 contracts 937,500 shares 3,320,000 shares 750,000 shares 50,000 contracts 50,000 contracts 21,000 contracts 4,500 contracts 9,000 contracts 1,695,000 shares 50,000 contracts 9,000 contracts 50,000 contracts 15,000 contracts 21,000 contracts 15,000 contracts 15,000 contracts 1,125,000 shares 9,000 contracts 4,500 contracts 21,000 contracts 1,575,000 shares 1,575,000 shares 675,000 shares 3,750,000 shares 10,500 contracts 21,000 contracts 1,125,000 shares 463,500 shares 9,000 contracts 675,000 shares 15,000 contracts 21,000 contracts 21,000 contracts 15,000 contracts 21,000 contracts 21,000 contracts 7,500 contracts 50,000 contracts 50,000 contracts
The Chicago Board Options Exchange Bulletin
Date
Class
6/20/98 6/20/98 6/20/98 6/20/98 6/20/98 6/20/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 7/18/98 8/22/98 8/22/98 8/22/98 8/22/98 8/22/98 8/22/98 8/22/98 8/22/98 9/19/98 9/19/98 9/19/98 9/19/98 9/19/98 9/19/98 10/17/98 10/17/98 10/17/98 10/17/98 10/17/98 10/17/98 10/17/98 10/17/98 11/21/98 11/21/98 11/21/98 12/20/98 1/23/99 1/23/99
CD/VUC/LUL/VFS/ LFS CIQ/WCI/VHR CTC/WDT/VDT/ CUC/VXD HAL/VHW HOT/IZT/VZU IZT/VZU/HOT KRB/LXK//VUK/ VKX/VZK MER/VME/LME MMM/WMU/VMU/ VMV VFS/LFZ/CD/ VUC/LUL VUZ/THQ/VTH/ LTH AIG/VAF/LAJ/ VXE/LVJ AOL/VAN/LOL ARC/VFR/LFR BAC/VBA/LBA CYQ/VYC/LCY/CYZ VYV/LYL DD/VDD/LDD EMC/VUE/LUE GM/LGM/GMX/ VGN/LGZ GPS/VGS/LGS GZP/VWS/LVP HWP/VVX IBM/VIB/LIB LUV/VUV/LOV/ LYU/VUY/LVW MTC/VM/LCT/MZM VZV/LYC ORQ/VOR/LRO/OWQ VZR/LRZ/WOU PEP/VP/LPP/PVP/ VPR/LDV SCH/VYS/LWS SYH/VZY/LWZ SLB/VWY/LYS SLM/VRM/LOS/SLZ/ VZL/LYM SWY/VYW/LYW TXN/VXT/LTN VSZ/WZY/VVX/HWP WMB/VBB/LMB MOB/VML/LML
Limit
Page 7 Date
9,750,000 shares
1/23/99
42,000 contracts 4,462,500 ADSs
1/23/99 1/23/99
50,000 contracts 4,900,000 shares 4,900,000 shares 4,500,000 shares
1/23/99 1/23/99 1/23/99 1/23/99
50,000 contracts 25,000 contracts
1/23/99 1/23/99
9,750,000 shares
1/23/99
6,875,000 shares
1/23/99
3,750,000 shares
1/22/2000
50,000 contracts 40,000 contracts 50,000 contracts 3,750,000 shares
1/22/2000 1/22/2000 1/22/2000 1/22/2000
50,000 contracts 50,000 contracts 25,000 contracts
1/22/2000 1/22/2000 1/22/2000
3,750,000 shares
1/22/2000
32,500 contracts 50,000 contracts 3,000,000 shares
1/22/2000 1/22/2000 1/22/2000
25,000 contracts
1/22/2000
3,750,000 shares 25,000 contracts
1/22/2000 1/22/2000
2,000,000 shares
1/22/2000
50,000 contracts 2,625,000 shares
1/22/2000 1/22/2000
40,000 contracts 50,000 contracts 32,500 contracts 21,000 contracts 50,000 contracts
1/22/2000 1/22/2000 1/22/2000 1/22/2000 2/19/2000
POSITION LIMIT CIRCULARS POSITION LIMIT CIRCULAR PL98-19 DATE:
March 26, 1998
TO:
Members
RE:
Oregon Metallurgical Corporation (“OREM/QOU”) Merger with Sea Merger, Inc., a wholly owned subsidiary of Allegheny Teledyne Incorporated (“ALT”) Effective Date March 25, 1998
The Exchange has established that the position and exercise limits following this merger will be any combination of OUY and ALT option contracts on the same side of the market not to exceed 2,404,500 shares of the underlying security through November 21, 1998. Following the November, 1998, expiration, the position and exercise limits will revert to the standard limit of 10,500 contracts of ALT. For additional information, please contact Beth Hadley at (312) 786-7906 in the Department of Market Regulation. Position Limit Circular PL98-20 March 26, 1998 Equity Option Position and Exercise Limits As a result of a review of trading statistics, the following class now qualifies for a higher position and exercise limit: Option Class QXT
New Tier 10,500
For additional information, please contact Karen Charleston at (312) 786-7724 in the Department of Market Regulation.
Page 8
April 1, 1998
Volume 26, Number 13
The Chicago Board Options Exchange Bulletin
Information Circular IC98-21
CBOE 25th Anniversary Gala Questions and Answers We are excited about the Twenty-Fifth Anniversary celebration we have planned for you, and we know you are anxious to know details. We hope this answers most of your questions. DOES MY INVITATION GUARANTEE THAT I CAN PURCHASE TWO TICKETS? Although this event will accommodate several hundred more CBOE members than did CBOE’s 20th Anniversary Gala, capacity is limited. Invitations have been mailed to CBOE members only, with a strict limit of two tickets per invitation (to be used only by the invited member and his/her guest). If, by April 10 (the deadline for responses), the number of ticket requests exceeds the capacity of the Grand Ballroom, tickets will be sold on the basis of membership seniority, with longer-term members (as defined by the date at which you first became a CBOE member) given priority. In the event that we are oversubscribed, we will, of course, issue prompt refunds to any member who, regretfully, could not be accommodated. CAN WE INVITE ADDITIONAL GUESTS? Again, due to capacity limits, we cannot accommodate all of our CBOE friends. If tickets are available after the April 10 deadline for CBOE members, we will issue an announcement regarding the sale of tickets to non-members. WHAT IS THE DRESS? Black Tie, let the granduer and mystique of the French Cirque be your guide. WILL SEATING BE ASSIGNED? No, the CBOE Cirque is an event to experience. While you may, of course, choose to stay at one table, you may also table hop between elegant buffets, dancing, and an array of Cirque surprises. Food and cocktails will be served throughout the evening. WILL THERE BE MUSIC? Yes, the acclaimed “Gentlemen of Leisure” band (the group who performed at CBOE’s 20th Anniversary Gala) will provide music and entertainment throughout the evening. ARE THERE OVERNIGHT HOTEL ACCOMMODATIONS? Yes, information regarding hotel reservations is enclosed. Is Parking Available? Yes, complimentary valet parking is available. If you have any additional questions, please consult with a Twenty-Fifth Anniversary Committee member. We look forward to seeing you on April 25. CBOE Twenty-Fifth Anniversary Member Committee Tom Bond Jack Kennedy Jack Callahan Victor Meskin Norm Friedman Ilene Resnick Jesse Stamer
CBOE 25th Anniversary Hotel Accommodations The Hyatt Regency Hotel, 151 East Wacker Drive. $155.00 plus tax for Saturday evening. Contact the Hyatt at 312/565-1234 or call toll-free at 800/233-1234 and ask for hotel reservations at the CBOE rate. Hyatt Hotel reservations should be made prior to April 3. The Fairmont Hotel, 200 North Columbus Drive. $179.00 plus tax for Saturday evening. Contact the Fairmont at 312/565-8000 or call toll-free at 800/527-4727 and ask for hotel reservations at the CBOE rate. Fairmont reservations should be made prior to April 3.
April 1, 1998
Volume 26, Number 13
The Chicago Board Options Exchange Bulletin
Page 9
RESEARCH CIRCULARS The following Research Circulars were distributed between March 20, 1998 and March 27, 1998. If you wish to read the entire document, and have access to a fax machine, please call the CBOE FaxLine at 1-800-OPTIONS, choose option “4” and then option “1”. Please have your fax number and the corresponding FaxLine document number ready. The FaxLine number is listed adjacent to each circular. To receive a list of all available documents, use the FaxLine number 000. You may also access the Research Circulars on our Web Site at http://www.cboe.com Questions regarding any of the information that is discussed in any Research Circular may be directed to the CBOE Investor Services Department at 1-800-OPTIONS. CBOE Research Circular #RS98-138 FaxLine Document No. 915 March 20, 1998 Ford Motor Company (“F/VFO/LFO”) Distribution of Associates First Capital Corp. (“AFS”) Ex-Distribution Date: April 8, 1998 CBOE Research Circular #RS98-139 FaxLine Document No. 900 March 20, 1998 New Listings: Applied Micro Circuits Corporation (“AMCC/QLL”) CBOE Research Circular #RS98-140 FaxLine Document No. 916 March 20, 1998 CORESTAFF, Inc. (“CSTF/EQB”) Name and Underlying Stock Symbol Change to: Metamor Worldwide, Inc. (“MMWW”) Effective Date: March 23, 1998 CBOE Research Circular #RS98-141 FaxLine Document No. 917 March 23, 1998 Campbell Soup Company (“CPB/VLL/LLL”) Distribution of Shares of Vlasic Foods International Inc. (“VL”) Ex-Distribution Date: March 31, 1998 CBOE Research Circular #RS98-142 FaxLine Document No. 918 March 24, 1998 Ralston-Ralston Purina Group (“RAL”) Distribution of Shares of Agribrands International, Inc. (“AGX”) Ex-Distribution Date: April 1, 1998 CBOE Research Circular #RS98-143 FaxLine Document No. 919 March 25, 1998 Forest Laboratories Inc. (“FRX”) 2-for-1 Stock Split Ex-Distribution Date: March 26, 1998 CBOE Research Circular #RS98-144 FaxLine Document No. 920 March 25, 1998 Oregon Metallurgical Corporation (“OREM/QOU”) COMPLETED Merger with Sea Merger Inc. CBOE Research Circular #RS98-145 FaxLine Document No. 921 March 26, 1998 The Energy Group plc ADS (“TEG”) Tender Offer by Goldman Sachs International on Behalf of PacifiCorp Acquisitions: Expiration of Initial Offer Period Determined CBOE Research Circular #RS98-146 FaxLine Document No. 900 March 26, 1998 New LEAPS Listing: At Home Corporation, Ser. A (“ATHM/AHQ”) CBOE Research Circular #RS98-147 FaxLine Document No. 900 March 26, 1998 New LEAPS Listing: Platinum Software Corporation (“PSQL/PQS”): VPO and LPO CBOE Research Circular #RS98-148 FaxLine Document No. 900 March 26, 1998 New Listings: Allied Capital Corporation (“ALLC/CQL”) Electric Lightwave, Inc. Cl A (“ELIX/XQQ”) Ocean Energy, Inc. (“OEI”) Splash Technology Holdings, Inc. (“SPLH/QRX”) CBOE Research Circular #RS98-149 FaxLine Document No. 922 March 27, 1998 Cablevision Systems Corporation Class A (“CVC”) 2-for-1 Stock Split Ex-Distribution Date: March 31, 1998 CBOE Research Circular #RS98-150 FaxLine Document No. 923 March 27, 1998 Level One Communications, Inc. (“LEVL/LVQ”) 3-for-2 Stock Split Ex-Distribution Date: March 31, 1998 CBOE Research Circular #RS98-151 FaxLine Document No. 924 March 27, 1998 Gulf South Medical Supply, Inc. (“GSMS/MQG”) Completed Merger with Physicians Sales Service, Inc.