                Options Loadr V 1.1 Readme File
 
Thank you for choosing Options Loadr. This file provides
details regarding your product license and registration. 

Demo/Shareware Package 

Before obtaining a registration code, please evaluate this Demo 
Package of Options Loadr for suitability and system compatibility.
Due to copyright laws, Spread Systems, Inc. does not offer refunds.
This Demo allows you up to 12 successful downloads from the CBOE 
website, after which the download feature becomes disabled.

For continued use, you may obtain a registration code directly 
through links provided in the program. Inserting this code permanently 
enables (re-enables) the download feature. 

CONTENTS OF THIS README FILE

  A.   About Options Loadr
  B.   Contacting Spread Systems, Inc.
      - Electronic Access
      - By Telephone
      - Mail

  C.   Ordering 
  
  D.   System Requirements
        Installing
        UnInstalling

  E.   Product License Agreement

  F.   Acknowledgement 
_____________________________

A. About Options Loadr - Features

Options Loadr is a Windows 95/98/Me/NT database software program 
for downloading, and presenting equity and/or index options chains from 
the CBOE.com website. 

Features include:

* Direct Internet downloads of CBOE delayed options chains
* Separation of puts and calls (one tab for each)
* Binomial numerical methods options pricing model 
* Implied volatility approximation of each downloaded option
* Delta value computations based on volatility approximations 
* Future options price approximations based on volatility values, and user
  future date and price inputs 
* Computations for Index, Equity, LEAPS(r), Standardized, American, 
  European, Put and Call options
* Editing features for discarding those options not of interest
* Undelete features for recalling deleted options
* Full printed reports
* Direct access to MSN, Yahoo, and other sites for such basic 
  information as dividends, and earnings
* User customized database table of preferred or favorite websites


B. Contacting Spread Systems, Inc.

-- ELECTRONIC ACCESS:
    Internet E-mail:         info@spreadsystems.com
    World Wide Web:     http://www.spreadsystems.com 
                       
-- BY TELEPHONE:
    (504) 314-6304
  
-- By Snail Mail:
    Spread Systems, Inc.
    PO Box 13224
    New Orleans, LA 70185

C.   Ordering

1.To license demos of Options Loadr, please visit our website: 
   www.spreadsystems.com. Secure credit card order link is provided
   through Spread Systems order taking service. You will obtain a
   registration code which you may insert at any time during or after
   the Demo trial period

2. Links to this site may be accessed from the program's help menu

D. System Requirements

MINIMUM SYSTEM REQUIREMENTS
------------------------------------------------------------

* A personal computer with a 166MHz or faster CPU 
* Microsoft Windows 95/ 98/NT/Me operating system
* 16MB RAM
* 10MB hard drive free space
* A VGA or higher resolution monitor and graphics adapter
* Mouse or other pointing device

1. To install Options Loadr, double click on the file 'Setup.exe' 
   (Application, 45 Kb) after unzipping the Oloadr10.zip or
   Oloadr10.exe file and follow the prompts.

2. To UNinstall Options Loadr, click 'Start' on the
   Windows Task Bar, then Settings - Control Panel - 
   Add/Remove Programs


E.            Options Loadr End-User License Agreement

Please Read Carefully:

1. GENERAL

This End-User License Agreement (EULA) is a legal agreement between you -
an individual and Spread Systems, Incorporated for use of the software 
product - Options Loadr. By installing Options Loadr you agree to be bound by 
this EULA. If you do not agree to the terms of this EULA as described herein:

   DO NOT INSTALL ANY PARTS OR COMPONENTS OF THIS
   PROGRAM. CANCEL INSTALLATION PROCESS AND DELETE ALL
   Options Loadr-RELATED FILES FROM YOUR COMPUTER.

2. SOLICITATION

Options Loadr is not to be construed as an offer or solicitation of an
offer to buy or sell options or other derivatives or securities. 

3. SOFTWARE PRODUCT LICENSE

This software product - Options Loadr is not vended. You - an individual,
are licensed to use Options Loadr. Options Loadr is the property of 
Spread Systems, Incorporated. All rights not specifically granted to you
hereunder are reserved by Spread Systems, Incorporated.

This product is protected by copyright laws and international copyright
treaties, as well as by other intellectual property laws and treaties.

4. GRANT OF LICENSE

You are hereby granted the non-exclusive right to use Options Loadr
on one computer at a time. You may install one copy of Options Loadr 
on a single computer. You may install Options Loadr on a second 
computer, only if this second computer is portable. At no time shall
more than one user be using a single licensed copy of Options Loadr.

5. OTHER RIGHTS AND LIMITATIONS

* Resale. You may not resell Options Loadr.

* Decompilation, Disassembly, Reverse Engineering. You may not 
  decompile, disassemble, reverse engineer, alter, adapt, merge this
  product without written consent from Spread Systems, Inc. Inasmuch,
  neither Spread Systems, Inc. nor its suppliers will be responsible for 
  damages, or losses of any kind.

* Separation or Addition of Components.  Options Loadr is licensed as
   a single complete product. You may not add, detach, or separate any 
   of its components.

* Lease. You may not rent, lease, or loan a registered copy of Options
   Loadr.

* Transfer. You may permanently transfer Options Loadr to another party
   only if that party agrees to accept the terms of this EULA, and sends
   written acknowledgment of such acceptance to Spread Systems, Inc.
   at PO Box 13224, New Orleans, Louisiana 70185. You may then deliver 
   wholly to that party, the original program, any copied components thereof,
   and all related materials and documentation. Any transfer other than
   as expressly permitted herein shall be void and shall result in the
   termination of this EULA. 

* The demonstration (Demo) package of Options Loadr may be freely 
   transferred as long as the user reads and accepts this EULA.

* Services and Support. Spread Systems, Inc. may provide support for
   general usability of Options Loadr. Spread Systems, Inc. is not 
   obligated to provide technical support on the subject of OPTIONS.

* Termination. Spread Systems, Inc. may automatically terminate this
   EULA if you violate any of its terms. In such event you must destroy 
   Options Loadr in whole.


6. COPYRIGHT

All title and copyrights in and related to Options Loadr (including but  
not limited to tables, images, text, help files, libraries, photographs, 
audio, applets incorporated into the software product), accompanying
printed materials and any copies of the software product or its
components are owned by Spread Systems,Inc. or its suppliers.
You may install Options Loadr as described in "The EULA-Grants"
described above. You may not copy the printed materials or help file
topics accompanying this product.

7. U.S. GOVERNMENT RESTRICTED RIGHTS

Use, duplication or disclosure by the Government is subject to 
restrictions as set forth in subparagraphs (a) through (d) of the 
Commercial Computer-Restricted Rights clause at FAR 52.227-19
when applicable, or in subparagraph (c) (1) (ii) of the Rights in
Technical Data and Computer Software clause at DFARS
252.227-7013, and in similar clauses in the NASA AR Supplement.
Contractor/manufacturer is Spread Systems, Inc., PO Box 13224, 
New Orleans, LA 70185.


8. OPTIONS

  Options Loadr is not to be construed as an offer or 
  solicitation of an offer  to buy or sell options or other
  derivatives or securities. Further, option implied volatility
  value approximations, deltas, and future option pemium 
  approximations are purely approximations. These are 
  not recommendations, suggested, specific or otherwise
  investment, hedge, trading, defensive, or other financial
  strategies. These are not to be regarded as actual
  market prices or conditions.

  Options Loadr is an educational tool intended to assist
  individuals in understanding options principles as they
  relate to; pricing, decay, volatility,  delta and other factors
  associated with the performance or behavior of options.
  Options Loadr is not intended to provide trading or 
  investment advice. Users should not make investment
  /trading decisions solely based on data generated by 
  Options Loadr.

  On any given trading day the consensus amongst traders,
  market makers, analysts, specialists, floor brokers and
  investors on market  sentiments can differ vastly, thus the
  dynamics of volatility can change dramatically and or abruptly.
  Therefore, prices and volatility values calculated by Options
  Loadr could vary from those seen in the marketplace.

  Options involve risk, and are not suitable for all traders
  /investors. You could lose all of your investment and more.
  IT IS IMPORTANT THAT YOU READ AND UNDERSTAND
  ALL RISKS ASSOCIATED WITH THE PURCHASE OR 
  SALE OF OPTIONS. It is recommended that you read and 
  understand as a minimum, the publication "Characteristics
  and Risks of Standardized Options" available from your
  broker or from the Chicago Board OptionsExchange
  (1-800-OPTIONS), prior to the initial purchase or sale of
  options.

  Spread Systems, Inc. will not be responsible for accuracy
  of data downloaded from the CBOE website. Further you 
  must read and accept the CBOE terms and conditions
  found on the CBOE web pages.

  The CBOE may change or discontinue the webpage(s) that
  this program accesses for free quotes. Spread Systems will 
  not be responsible or liable for Options Loadr's inability to
  the function due to such changes.
 
    NEITHER SPREAD SYSTEMS, INC. NOR ITS SUPPLIERS
    SHALL BE LIABLE FOR INCIDENTAL, CONSEQUENTIAL,
    SPECIAL, DIRECT OR INDIRECT DAMAGES OR LOSSES
    OF ANY SORT, INCLUDING, WITHOUT LIMITATION, ANY
    LOSS OF PROFITS, LOST SAVINGS, OTHER FINANCIAL 
    LOSS, DAMAGE TO DATA EVEN IF SPREAD SYSTEMS,
    INC. HAS BEEN INFORMED OF THE POSSIBILITY OF
    SUCH DAMAGES, OR LOSSES. 


9. ASSUMPTIONS

There are several known analytical and numerical models 
used to approximate options premiums. Scholars, theorists, and
programmers differ not only on their choices of models, but
also on assumptions made within a particular model. As a result
you will see variations in options prices from model to model,
and from software to software given the same underlying
fundamentals of a particular stock or index.

Options Loadr employs or utilizes the following in its program:

* The same binomial approximation tree structure is used
   throughout for both equity and index options, calls and puts, 
   standardized, LEAPS(R).

* The same number of time steps is used for both standardized
  and LEAPS(R) options. If the number of dividend payments
   throughout the life of an option, as could result in certain LEAPS(R)
  situations, exceed the user-defined time step value, this time step
   value is changed to match the number of dividend payments
   without warning.

* The formula used in backward induction of the binomial tree
   in approximating European-styled options implied volatility
   is changed for American-styled options pricing and volatility
   approximations.

* The same cash dividend amount is paid to the stockholder
   throughout the life of an option, and this is paid regularly at 
   91-day (365/4) intervals.

* Risk-free interest rate does not change throughout the life of
   an option.

* Each year consists of 365 (vs. 365.25) days.

* Implied volatility values calculated by this programare rounded
   to four  decimal places for display and for subsequent use. 
  Theoretical options premiums are not rounded off, they are
   truncated to two decimal places for display purposes.

* The dynamics of options change with time. This program 
   assumes the same implied volatility value approximated on
   Day 1, in approximating future prices (Day 2) of each option. 
   This program is unable to determine volatility or dynamics of
   options at future dates, therefore Spread Systems, Inc. will not
   be held accountable in any way for option premium or implied 
   volatility value discrepancies between program-calculated and
   actual market prices at Day 2. 

DISCLAIMER AND LIMITATION OF LIABILITY

Spread Systems, Inc. does not make or give any representation
or warranty with respect to the usefulness or the efficiency of this
product. It being understood that the degree of success with which 
equipment, software, modifications, and other materials can be
applied to data processing is dependent upon many factors, many
of which are not under the control of Spread Systems, Inc.

ACCORDINGLY, Options Loadr IS PROVIDED TO YOU 'AS IS' 
WITHOUT WARRANTY. NO EXPRESS OR IMPLIED WARRANTIES,
INCLUDING NO WARRANTIES OF MERCHANTABILITY, TITLE,
FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT
IS PROVIDED REGARDLESS OF WHETHER OR NOT SPREAD 
SYSTEMS, INC. IS AWARE OR HAS REASONS TO BE AWARE 
OF YOUR NEEDS.  THIS SOFTWARE PRODUCT IS PROVIDED 
GRATUITOUSLY AND, ACCORDINGLY, SPREAD SYSTEMS, INC.
SHALL NOT BE LIABLE UNDER ANY THEORY FOR ANY DAMAGES 
SUFFERED BY YOU.  SPREAD SYSTEMS, INC. WILL NOT SUPPORT
THIS SOFTWARE AND IS UNDER NO OBLIGATION TO ISSUE
UPDATES TO THIS SOFTWARE. IN ADDITION, NEITHER SPREAD
SYSTEMS, INC. NOR ANY OTHER PERSON WARRANTIES 
THAT Options Loadr WILL RUN UNINTERRUPTED OR ERROR-FREE. 
YOU ARE SOLELY AND ENTIRELY RESPONSIBLE FOR YOUR USE 
OF Options Loadr.

WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, NEITHER 
SPREAD SYSTEMS, INC. NOR ITS SUPPLIERS SHALL BE LIABLE FOR 
(a) INCIDENTAL, CONSEQUENTIAL, SPECIAL OR INDIRECT DAMAGES 
      OF ANY SORT, INCLUDING, WITHOUT LIMITATION, ANY LOSS 
      OF PROFITS, LOST SAVINGS OR OTHERWISE FINANCIAL LOSS, 
      DAMAGE TO DATA, WHETHER ARISING IN TORT, CONTRACT OR 
      OTHERWISE, EVEN IF SPREAD SYSTEMS, INC. HAS BEEN INFORMED 
      OF THE POSSIBILITY OF SUCH DAMAGES, OR FOR 
(b) ANY CLAIM BY ANY OTHER PARTY. SOME STATES DO NOT 
      ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR 
      CONSEQUENTIAL DAMAGES, SO THIS LIMITATION AND EXCLUSION 
      MAY NOT APPLY TO YOU.  
(c) WEBSITE DOMAINS OR URL'S INCLUDED IN THIS PROGRAM ARE 
      PROVIDED AS COURTESY AND/OR EXAMPLES OF HOW TO USE THIS
      PROGRAM. SPREAD SYSTEMS, INC. DOES NOT ENDORSE,
      SUPPORT, ADVOCATE, OR RECOMMEND ANY OF THESE WEBSITES OR
      THEIR CONTENTS. FURTHER, SPREAD SYSTEMS WILL NOT BE LIABLE
      OR RESPONSIBLE IN ANY WAY FOR DAMAGES, HARD DRIVE CAPACITY 
      CONSUMPTION, COMMERCIAL ADS/CONTENT, OR COOKIES ARISING
      FROM A NETWORK CONNECTION INITIATED OR ESTABLISHED BY
      Options Loadr.


This EULA constitutes the parties' final, complete and exclusive 
EULA with respect to Options Loadr.

This EULA may only be modified or amended in writing, signed 
by you and Spread Systems, Incorporated.
------------------------------------------------------------

 ACKNOWLEDGEMENT

Thanks to the McGraw Hill Companies for granting permission to
use theory discussed in certain of their publications.
------------------------------------------------------------


LEAPS(R) is a registered trademark of the Chicago Board Options
Exchange 

**************
