1, 2004

TO:

Members and Member Organizations

FROM:
Department of Market Regulation

RE:

Equity Position and Exercise Limits will be decreased to a Lower Tier Limit Effective
October 18, 2004

Please be reminded that the position and exercise limits
1
for the following equity option classes will be
decreased to a lower tier limit with the October 2004 expiration. Effective October 18, 2004, the position
and exercise limits for the following equity option classes will be decreased to the applicable standard
limit as noted below:


Underlying Stock
Option
Symbol
Stock
Symbol

Standard Position and
Exercise Limit
Internet Initiative Japan Incorporated
ADR Sponsored
IQD IIJI
22,500
Contracts
OM Group, Inc.
OMG
OMG
22,500 Contracts

The complete list of the applicable limits is available on the OCC website at www.theocc.com under the
"Market Data" tab and then under the Position Limit Data tab. The following two reports are available
on the OCC website: Daily Position Limit Report and Position Limit Change Report.



1
Limits were previously reviewed in July 2004 and, at that time, these equity option classes were not eligible to remain at their current tier limit.