X0201 4 2003-11-12 0000878520 SWS GROUP INC SWS 0001249605 TUBB ALLEN R 1201 ELM STREET SUITE 3500 DALLAS 75270 1 Secretary Common Stock $.10 Par Value 2003-11-12 4 A 0 246 0 A 246 D Stock Option SWS Stock Option Plan 16.6389 2000-10-10 2009-10-08 Common Stock $.10 Par Value 1487 1487 D Stock Option SWS Stock Option Plan 15.4475 2002-09-10 2011-09-08 Common Stock $.10 Par Value 4917 4917 D Stock Option SWS Stock Option Plan 13.42 2003-08-22 2012-08-19 Common Stock $.10 Par Value 2000 2000 D Allen R. Tubb 2003-11-14