From: Sondra Brewer Pfeffer
Sent: February 26, 2007
Subject: File No. SR-CBOE-2006-106

Securities and Exchange Commission
100 F St. NE
Washington DC 20549-1090
Att: Nancy M. Morris

RE File: SR-CBOE-2006-1006

I am writing this letter as a full CBOT member. My late husband was an active trader and long time member, when he died four years ago I chose not to sell his seat. This was against the advice of all the financial planners I spoke with who all pointed out the risks involved for a widow who needs safe investments and an income.

Well, I proved them all wrong! I have no JD, no College degree and no history of Financial genius just some good old fashioned common sense. After studying both sides of the argument it seems clear to me that A DEAL IS A DEAL.

The CBOE was created by members of the CBOT. The Exercise Right is a reward for their financial and intellectual investment.

For the reason stated above I urge the Committee to deny the Proposed Rule change that would make my Exercise Right worthless!

I appreciate your consideration and time.


Sondra Brewer Pfeffer