EFTA Document EFTA01353501

The following example is inserted immediately fol- lowing the example at the bottom of page 63 of the Booklet: EXAMPLE: An Investor receives a premium of $4 for writing a binary call option on XYZ security that has an exercise price of $80 and a fixed cash settlement amount of $100. If the exercise settlement value of XYZ is $81 at expiration, the investor will incur a loss of $96 (the $100 paid to the holder of the call option less the $4 premium received when the option was written).