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To: santhosh mohan who wrote (12956)	1/6/1998 4:23:00 PM
From: Elmer Flugum	Read Replies (1) \| Respond to of 45548

For those who missed it: data.com

To: santhosh mohan who wrote (12956)	1/6/1998 5:17:00 PM
From: Beachbumm	Read Replies (1) \| Respond to of 45548

Santhosh, I checked CBOE again and I'd say you are right. So I went back to the Characteristics & Risks of Standardized Options and found this wording on page 20 which is more clear: "As a general rule, stock dividends, stock distributions and stock splits can result in an adjustment in the number of underlying shares or the exercise price, or both... However, when a stock distribution results in the issuance of one or more whole shares of stock for each outstanding share -- such as a 2 for 1 stock split -- as a general rule the number of underlying shares is not ajusted. Instead, the number of outstanding options is proportionately increased and the exercise price is proportionately decreased." So, if you had a 3 for 2 split, the number of options you hold remains the same. But if you have a 2 for 1 split you will be holding twice as many options. Beachbumm