Subject: File No. SR-CBOE-2011-100
From: Ron March

December 23, 2011

Here are the index movements after 3:00 pm on 12/23/2011:

2:59 1265.21
3:00 1265.24
1265.26
1265.29
3:01 1265.30
1265.31
1265.29
1265.30
1265.31
3:02 1265.32
1265.33
1265.32
3:04 1265.33

Once again, this data proves that the SPX index continues to move well past 3:00 and does so on a consistant basis.

If the index continues to move, option trading MUST be allowed.

Thank you.