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Nymex To Change Strike Price Increments In First Six Nearby Trading Months Of Silver Options

Date 16/05/2002

The New York Mercantile Exchange, Inc., will change the strike price increments for the first six listed months of its silver options contract beginning Monday, May 20, 2002.

Strike price increments $0.10 apart will be added to the current $0.25 strike price increments for strike prices $8 or less; strike price increments will be $0.25 apart instead of $0.50 for strike prices that are more than $8 and up to $15; and will be $0.50 apart instead of $1.00 for strike prices over $15.

The August 2002 contract and all future listed January, February, April, June, August, October, and November contracts will also have at least six strike prices in increments of $0.10 on either side of the previous day's settlement price and six strike prices in increments of $0.25 through the $8 strike price.