Options on Exchange Traded Funds and HOLDRs

Options on Exchange Traded Funds

CBOE trades options on Exchange Traded Funds (ETFs) & HOLDRs. ETFs are shares of trusts that hold portfolios of stocks designed to closely track the price performance and yield of specific indices. HOLDRs are trust-issued receipts that represent an investor's beneficial ownership of a specified group of stocks. HOLDRs allow investors to benefit from the ownership of stocks in a particular industry, sector or group.

As ETFs trade like stock (see ETF Specifications for details), options on these products are operationally similar to options on stock. Options on ETFs are physically settled and have an American-style exercise feature. LEAPS are offered on some of the products.

CBOE's Options on ETFs - Manage Different Types of Exposures

CBOE's Options on ETFs - Delayed Quotes and Product Specifications

Note: Click the ticker symbol for delayed quotes.

ACWI - iShares MSCI ACWI Index Fund
AGQ - ProShares Ultra Silver
ALD - WisdomTree Asia Local Debt Fund
AMLP - Alerian MLP ETF
BBH - Market Vectors Biotech ETF
BGU - Direxionshares Large Cap Bull 3X Shares
BGZ - Direxionshares Large Cap Bear 3X Shares
BKF - iShares MSCI BRIC Index Fund
BNO - United States Brent Oil Fund LP
BRF - Market Vectors Brazil Small Cap ETF
BWX - SPDR Barclays Capital International Treasury Bond ETF
BZF - WisdomTree Dreyfus Brazilian Real Fund
BZQ - ProShares UltraShort MSCI Brazil
CCX - WisdomTree Dreyfus Commodity Currency Fund
CEW - WisdomTree Dreyfus Emerging Currency Fund
CORN - Teucrium Corn Fund
CRBQ - Jefferies TR/J Global Commodity Equity Index Fund
CROP - IQ Global Agribusiness Small Cap ETF
CRUD - Teucrium Crude Oil Fund
CSM - ProShares Credit Suisse 130/30
CYB - WidsomTree Dreyfus China Yuan Fund
CZI - Direxion Daily China 3X Bear Shares
CZM - Direxion Daily China 3X Bull Shares
DBA - PowerShares DB Agriculture Fund
DBB - PowerShares DB Base Metals Fund
DBC - Powershares DB Commodity Index Tracking Fund
DBE - PowerShares DB Energy Fund
DBO - PowerShares DB Oil Fund
DBP - PowerShares DB Precious Metals Fund
DBS - PowerShares DB Silver Fund
DBV - PowerShares DB G10 Currency Harvest Fund
DDM - Ultra Dow 30 ProShares
DEM - WisdomTree Emerging Markets Equity, Income Fund
DGL - PowerShares DB Gold Fund
DGS - WisdomTree Emerging Markets SmallCap Dividend Fund
DGT - streetTRACKS^® - DJ Global Titans Index Fund
DIA - Options on DIAMONDS^® | QUARTERLYS SPECIFICATIONS
DIG - Ultra Oil & Gas ProShares
DNO - United States Short Oil Fund LP
DPK - Direxionshares Developed Markets Bear 3X Shares
DRN - Direxion Daily Real Estate Bull 3x Shares
DRV - Direxion Daily Real Estate Bear 3x Shares
DUG - UltraShort Oil & Gas ProShares
DUST - Direxion Daily Gold Miners Bear 2x Shares
DVY - iShares^® DJ Select Dividend
DWX - SPDR S&P International Dividend ETF
DXD - UltraShort Dow 30 ProShares
DZK - Direxionshares Daily Developed Markets Bull 3X Shares
ECH - iShares MSCI Chile Investable Market Index Fund
EDC - Direxionshares Emerging Markets Bull 3X Shares
EDZ - Direxionshares Emerging Markets Bear 3X Shares
EEB - Claymore/BNY BRIC
EEM - iShares^® MSCI Emerging Markets Index
EET - ProShares Ultra MSCI Emerging Markets
EEV - UltraShort MSCI Emerging Markets ProShares
EFA - Options on iShares^® MSCI EAFE^® Exchange Traded Fund
EFU - UltraShort MSCI EAFE ProShares
ELD - WisdomTree Emerging Markets Local Debt Fund
EMB - iShares JPMorgan USD Emerging Markets Bond Fund
EPI - WisdomTree India Earnings Fund
EPU - iShares MSCI All Peru Capped Index Fund
EPV - ProShares UltraShort MSCI Europe
ERX - Direxionshares Energy Bull 3X Shares
ERY - Direxionshares Energy Bear 3X Shares
EUO - ProShares UltraShort Euro
EWA - iShares^® MSCI Australia Index Fund
EWC - iShares^® MSCI Canada Index Fund
EWD - iShares^® MSCI Sweden Index
EWG - iShares^® MSCI Germany Index
EWH - iShares^® MSCI Hong Kong Index
EWI - iShares^® MSCI Italy Index Fund
EWJ - iShares^® MSCI Japan Index
EWL - iShares^®iShares MSCI Switzerland Index Fund
EWM - iShares^® MSCI Malaysia Index Fund
EWP - iShares^® MSCI Spain Index
EWS - iShares^® MSCI Singapore Index Fund
EWT - iShares^® MSCI Taiwan Index Fund
EWV - ProShares UltraShort MSCI Japan
EWW - iShares^® MSCI Mexico Index
EWY - iShares^® iShares MSCI South Korea Index Fund
EWZ - iShares^® MSCI Brazil Index Fund
EZA - iShares^® MSCI South Africa Index
EZU - iShares MSCI EMU Index Fund
FAS - Direxionshares Financial Bull 3X Shares
FAZ - Direxionshares Financial Bear 3X Shares
FCG - First Trust ISE-Revere Natural Gas Index Fund
FXA - CurrencyShares Australian Dollar Trust
FXB - CurrencyShares British Pound Sterling Trust
FXE - CurrencyShares Euro Trust
FXF - CurrencyShares Swiss Franc Trust
FXI - iShares FTSA/Xinhua China 25
FXP - UltraShort FTSE/Xinhua China 25 ProShares
GCC - GreenHaven Continuous Commodity Index Fund
GEX - Market Vectors Global Alternative Energy ETF
GLD - Options on SPDR^® Gold Shares
GLL - ProShares UltraShort Gold
GSG - iShares GSCI Commodity-Indexed Trust
GUR - SPDR S&P Emerging Europe ETF
GXC - SPDR S&P China ETF
HAO - Claymore/AlphaShares China Small Cap Index ETF
HAP - Market Vectors RVE Hard Assets Producers ETF
HDGE - Active Bear ETF/The
HHH - Internet HOLDRs Trust
HYG - iShares iBoxx $ High Yield Corporate Bond Fund
IAI - iShares^® Dow Jones US Broker-Dealers Index Fund
IAU - iShares^® COMEX Gold Trust
IBB - iShares^® Nasdaq^® Biotechnology
ICF - iShares Cohen & Steers Realty Majors Index Fund
IDU - iShares^® DJ^® US Utilities Sector
IEF - iShares^® Lehman 7-10 Year Treasury Bond Fund
IEI - iShares Barclays 3-7 Year Treasury Bond Fund
IEO - iShares Dow Jones US Oil & Gas Exploration & Production Index Fund
IEV - iShares^® S&P Europe 350 Index Fund
IEZ - iShares^® Dow Jones US Oil Equipment & Services Index Fund
IFN - India Fund, Inc.
IGS - ProShares Short Investment Grade Corporate Bond ETF
IHF - iShares Dow Jones US Healthcare Providers Index
IJH - iShares^® S&P MidCap 400^® Index Fund
IJR - iShares^® S&P 600^® Index Fund
IJS - iShares^® S&P SmallCap 600 Value Index Fund
ILF - iShares^® S&P Latin America 40 Index
ITB - iShares^® Dow Jones US Home Construction
IVE - iShares S&P 500 Value Index Fund
IVV - iShares S&P 500 Index Fund
IWC - iShares^® Russell Microcap Index Fund
IWM - iShares^® Russell 2000^® Index Fund | QUARTERLYS SPECIFICATIONS
IWN - iShares^® Russell 2000 Value Index Fund
IWO - iShares^® Russell 2000 Growth Index Fund
IWP - iShares^® Russell Midcap^® Growth Index Fund
IWR - iShares^® Russell Midcap Index Fund
IWS - iShares^® Russell Midcap Value Index Fund
IWV - iShares^® Russell 3000^® Index Fund
IXC - iShares S&P Global Energy Sector Index Fund
IYE - iShares^® Trust - DJ US Energy Sector Index Fund
IYF - iShares^® Dow Jones US Financial Sector Index Fund
IYH - iShares^® Trust - DJ US Healthcare Sector Index Fund
IYM - iShares^® Dow Jones Basic Materials Sector Index Fund
IYR - iShares^® DJ U.S. Real Estate
IYT - iShares^® Dow Jones U.S. Transportation Average Index Fund
IYY - iShares^® DJ US Total Market
IYZ - iShares^® DJ U.S. Telecommunications Sector Index Fund
JNK - SPDR Barclays Capital High Yield Bond ETF
KBE - KBW Bank ETF
KCE - KBW Capital Markets ETF
KIE - KBW Insurance ETF
KRE - KBW Regional Banking ETF
LBJ - Direxion Daily Latin America Bull 3X Shares
LHB - Direxion Daily Latin America Bear 3X Shares
LQD - iShares^® GS$ InvesTop Corporate Bond Fund
MDY - Standard & Poor's MidCap 400^® Index
MOO - Market Vectors Global Agribusiness ETF
MUB - iShares S&P National AMT-Free Bond Fund
MWJ - Direxionshares Mid Cap Bull 3X Shares
MWN - Direxionshares Mid Cap Bear 3X Shares
MZZ - UltraShort MidCap 400 ProShares
NLR - Market Vectors Nuclear Energy ETF
NUGT - Direxion Daily Gold Miners Bull 2x Shares
OEF - Options on iShares^®® S&P 100^® Index Fund
OIH - Market Vectors Oil Services ETF
PBP - PowerShares S&P 500 BuyWrite Portfolio
PCEF - PowerShares CEF, Income Composite Portfolio
PCY - PowerShares Emerging Markets Soverign Debt Portfolio
PEJ - Powershares Dynamic Leisure & Entertainment Portfolio
PFF - iShares S&P U.S. Preferred Stock Index Fund
PGF - PowerShares Financial Preferred Portfolio
PGX - PowerShares Preferred Portfolio
PHB - PowerShares Fundamental High Yield Corporate Bond Portfolio
PIE - PowerShares DWA Emerging Markets Technical Leaders
PIN - PowerShares India Portfolio
PPH - Pharmaceutical HOLDRs Trust
PRF - PowerShares FTSE^TM RAFI US 1000 Portfolio
PSQ - Short QQQ ProShares
PST - UltraShort Lehman 7-10 Treasury ProShares
QDF - BLDRS Emerging Markets 50 ADR Index Fund
QID - UltraShort QQQ ProShares
QLD - Ultra QQQ ProShares
QQQQ - PowerShares QQQ Trust | QUARTERLYS SPECIFICATIONS
QSD - Schwab U.S. Large-Cap Growth ETF
QSQ - Schwab U.S. Large-Cap Value ETF
REMX - Market Vectors Rare Earth/Strategic Metals ETF
REW - ProShares UltraShort Technology
RKH - Regional Bank HOLDRs Trust
ROM - ProShares Ultra Technology
RSE - Rosetta Resources, Inc.
RSP - Rydex S&P Equal Weight Index Fund
RSU - Rydex 2x S&P 500 ETF
RSW - Rydex Inverse 2x S&P 500 ETF
RSX - Market Vectors Russia ETF
RTH - Market Vectors Oil Services ETF
RUSL - Direxion Daily Russia Bull 3x Shares
RUSS - Direxion Daily Russia Bear 3x Shares
RWL - RevenueShares Large Cap ETF
RWM - ProShares Short Russell 2000
SAA - ProShares Ultra SmallCap 600
SCHA - Schwab U.S. Small-Cap ETF
SCHB - Schwab U.S. Broad Market ETF
SCHC - Schwab International Small-Cap Equity ETF
SCHE - Schwab Emerging Markets Equity ETF
SCHF - Schwab International Equity ETF
SCHO - Schwab Short-Term U.S. Treasury ETF
SCHP - Schwab U.S. TIPs ETF
SCHR - Schwab Intermediate-Term U.S. Treasury ETF
SCHX - Schwab U.S. Large-Cap ETF
SCO - ProShares UltraShort DJ-AIG Crude Oil
SDS - UltraShort S&P 500 ProShares
SDY - SPDR S&P Dividend ETF
SEA - Claymore/Delta Global Shipping Index
SGOL - ETFS Gold Trust
SHY - iShares^® Lehman 1-3 Year Treasury Bond Fund
SIJ - ProShares UltraShort Industrials ETF
SIL - Global X Silver Miners ETF
SIVR - ETFS Silver Trust
SJB - ProShares Short High Yield
SKF - UltraShort Financials ProShares
SKYY - First Trust ISE Cloud Computing Index Fund
SLV - iShares^® Silver Trust
SMH - Market Vectors Semiconductor ETF
SMK - ProShares UltraShort MSCI Mexico Investable Market
SMN - UltraShort Basic Materials ProShares
SOXX - iShares PHLX SOX Semiconductor Sector Index Fund
SPXU - ProShares UltraPro Short S&P 500
SPY - SPDR S&P 500 ETF Trust
SQQQ - ProShares UltraPro Short QQQ
SRS - UltraShort Real Estate ProShares
SSG - UltraShort Semiconductor ProShares
SSO - Ultra S&P 500 ProShares
SVM - Silvercorp Metals Inc.
SWH - Software HOLDRs Trust
TAN - Claymore/MAC Global Solar Energy Index ETF
TBF - ProShares Short 20+Year Treasury
TBT - UltraShort Lehman 20+Year Treasury ProShares
TFI - SPDR Barclays Capital Municipal Bond ETF
TIP - iShares Barclays US Treasury Inflation Protected Securities Fund
TLT - iShares^® Lehman 20+ Year Treasury Bond Fund
TMF - Direxion Daily 30-Year Treasury Bull 3X 3X
TMV - Direxion Daily 30-Year Treasury Bear 3X
TNA - Direxionshares Small Cap Bull 3X Shares
TQQQ - ProShares UltraPro QQQ
TUZ - PIMCO 1-3 Year Treasury Index Fund
TWM - UltraShort Russell 2000^® ProShares
TYD - Direxion Daily 10-Year Treasury Bull 3X
TYH - Direxionshares Technology Bull 3X Shares
TYO - Direxion Daily 10-Year Treasury Bear 3X
TYP - Direxionshares Technology Bear 3X Shares
TZA - Direxionshares Small Cap Bear 3X Shares
UCO - ProShares Ultra DJ-AIG Crude Oil
UDN - PowerShares DB US Dollar Index Bearish Fund
UGA - United States Gasoline Fund
UGL - ProShares Ultra Gold
UNG - United States Natural Gas Fund
UPRO - ProShares UltraPro S&P 500
URA - Global X Uranium ETF
USD - Ultra Semiconductor ProShares
USL - United States 12 Month Oil Fund LP
USO - United States Oil Fund
UTH - Utilities HOLDRs Trust
UUP - PowerShares DB US Dollar Index Bullish Fund
UWM - Ultra Russell 2000^® ProShares
UXI - ProShares Ultra Industrials ETF
UYG - Ultra Financials ProShares
UYM - Ultra Basic Materials ProShares
VGK - Vanguard European ETF
VIXM - ProShares VIX Mid-Term Futures ETF
VIXY - Proshares VIX Short-Term Futures ETF
VXEEM - CBOE Emerging Markets ETF Volatility Index
XBI - SPDR^® Biotech ETF
XES - SPDR^® SPDR Oil & Gas Equipment & Services ETF
XHB - SPDR^® Homebuilders ETF
XLB - Materials Select Sector SPDR
XLE - Energy Select Sector SPDR | QUARTERLYS SPECIFICATIONS
XLF - Financial Select Sector SPDR
XLI - Industrial Select Sector SPDR
XLK - Technology Select Sector SPDR
XLP - Consumer Staples Select Sector SPDR
XLU - Utilities Select Sector SPDR
XLV - Health Care Select Sector SPDR
XLY - Consumer Discretionary Select Sector SPDR
XME - SPDR^® S&P Metals & Mining ETF
XOP - SPDR^® S&P Oil & Gas Exploration & Production ETF
XPP - ProShares Ultra FTSE/Xinhua China 25
XRT - SPDR^® SPDR S&P Retail ETF
XSD - SPDR^® Semiconductor ETF
YANG - Direxion Daily China 3X Bear Shares
YAO - Claymore/AlphaShares China All-Cap ETF
YCS - ProShares UltraShort Yen
YINN - Direxion Daily China 3X Bull Shares
ZSL - ProShares UltraShort Silver

Options on Exchange Traded Funds (ETFs) Product Specifications

Underlying: Generally, 100 shares of one of the exchange-traded funds or HOLDRs above.

Strike Price Intervals:

ETF Options: Minimum strike price intervals of not less than 1 point are permissible if the strike price is equal to or less than $200. When the strike price exceeds $200, strike price intervals will be no less than 5 points.

HLDRs Options:Minimum strike price intervals of not less than 1 point are permissible if the strike price is equal to or less than $200. When the strike price exceeds $200, strike price intervals will be no less than 5 points.

Strike (Exercise) Prices: In-, at- and out-of-the-money strike prices are initially listed. New series generally will be added when the underlying shares trade through the highest or lowest strike price available.

Expiration Date: Saturday immediately following the third Friday of the expiration month.

Expiration Months: Generally, two near-term months and two months from the March quarterly cycle (March, June, September and December). LEAPS may also be available.

Last Trading Day: Trading in Options on ETFs and HOLDRs will ordinarily cease at the close on the business day (usually a Friday) preceding the expiration date.

Exercise Style: American - Options on ETFs and HOLDRs generally may be exercised on any business day before the expiration date.

Settlement of Option Exercise: Physical Delivery. Exercise notices properly tendered on any business day will result in delivery of ETF or HOLDRs shares on the third business day following exercise.

Margin: Uncovered writers must deposit 100% of the options proceeds plus 15% of the aggregate contract value (current ETF or HOLDRs price multiplied by $100) minus the amount by which the option is out-of-the-money, if any. Minimum margin is 100% of the option proceeds plus 10% of the aggregate contract value. Long puts or calls must be paid in full.

Position Limts: For position limits on Options on ETFs and HOLDRs, visit the Options Clearing Corporation's web site.

Trading Hours for Options on ETFs & HOLDRS:
Click here for trading hours for individual Options on ETFs and HOLDRs.

streetTRACKS is a registered trademark ^® of State Street Corporation
iShares^® is a registered trademark ^® of Barclay Global Investors N.A.
MSCI & EAFE are both registered trademarks ^® of Morgan Stanley & Co., Inc.
Nasdaq-100 is a registered trademark ^® of NASD, Inc.
HOLDRs is a registered trademark ^® of Merrill Lynch & Co., Inc.