[RT] Questions on options trading / exchange rules

[CalaxCorp@xxxxxxx]

Dear RTs:

I have some questions on options trading, please.

1.   Are there exchange rules stating that the minimum price for an option 
has to be 1/16 per share once it is listed in the option chain, or something 
like that ??

2.  If so, does that mean I can always sell my option to the market makers 
for at least 1/16 before expiration, and they are obligated to buy ??

3.  Must the market makers take my order for up to 20 contracts each time if 
I am buying from them at the current Ask, or selling to them at the current 
Bid, limit orders ??  If not, how can I make sure that my orders would get 
filled without using market orders ??

Thank you in advance for any help you can give me.

Bill...