EFTA Document EFTA01393137

opening.) Moreover, if the index underlay a capped index option, that option would or would not be auto- matically exercised based on an index level that might not reflect the true state of the market at the time. 9.OOO has no authority, and the options markets on which capped index options are traded do not intend as of the date of this booklet, to restrict the automatic exercise of capped index options. It is therefore possi- ble that automatic exercise of a capped index option could oc