Subject: File No. S7-19-07
From: Nan v Krish

August 19, 2008


I see comments by CBOE and options market makers against any changes in market makers exemption. My question to them is
- whatever delta neutral strategy that you are pursuing to promote your options business you are affecting the STOCK INVESTOR PARTICIPANTS by failing to deliver through one option expiration date to the other. How is it fair for these market participants?
- Also can you guarantee that options market makers will do nothing the whole week of option expiration. That is they will not buy or sell stocks to OPTIMIZE PROFITS on their option writing (their inventory of stocks and options) and will not PARK stock price at expiration. It is universal knowledge that in the low volume week of options expiration the options market makers are so busy trying to PARK the stock price to maximize their profits with the help of their options market maker EXEMPTION and shame on you that you would lobby to retain the options market maker exemption at the EXPENSE OF STOCK TRADERS.