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To: ExtraBases who wrote (17098)	5/19/1998 7:04:00 PM
From: Phillip Kelly	Respond to of 31646

How do they determine options for companies? I just received email from the CBOE in response to this question. Dear Investor, While it is not necessary for a company's approval, many companies will co-ordinate their initial listing process with the exchange that initiated the listing. The CBOE and other options exchanges have research areas that monitor the equities that meet listing requirements. The main requirements are: 1. The security have a minimum of 7,000,000 shares owned by persons other than those required to report holdings under section 16 (a) of the Securities Exchange Act of 1934. 2. The market price per share has been at least $7.50 per share for a majority of business days during the three preceding calendar months. (In the case of IPO's, a three month trading history, regardless of trading level is required. 3. There must be a minimum of 2000 shareholders. 4. Trading volume must be at least 2,400,000 shares in the preceding 12 months. 5. Stock price history for at least 3 months. Please note that these are listing requirements, additionally, there are various channels that need to approve the stock selection for listing options.