Characteristics and Risks of Standardized Options (PDF|3.7MB)
Prior to buying or selling an option, investors must read a copy of this disclosure document. It explains the characteristics and risks of exchange traded options. February 1994 (with 1997 through June 2008 supplement).

September 2008 Supplement
Part I of this Supplement contains information regarding options on indexes measuring a) the historical ("realized") variance or the predicted ("implied") or realized volatility of the daily returns of a stock index or
b) the return from a trading strategy involving purchases and sales of equity securities and
options on those securities. Part II of this Supplement contains information relating to the
adjustment of stock option contracts to reflect cash dividends or distributions on the underlying
securities.