EFTA Document EFTA01353407

The exercise price of a cash-settled option is the base for the determination of the amount of cash, if any, that the option holder is entitled to receive upon exercise (see the discussion of "Cash Settlement Amount and Exercise Settlement Value" below). Exercise prices for each options series are estab- lished by the options market on which that series is traded at the time trading in the series is introduced, and are generally set at levels above and below the then market value of the