I got an email today from American Stock Exchange that I wanted to pass along:

AMERICAN STOCK EXCHANGE ANNOUNCES LAUNCH OF FIXED RETURN OPTIONS (FROs) ON THURSDAY MAY 8, 2008

New York , May 1, 2008 – The American Stock Exchange® (Amex®) announced today the launch of Fixed Return OptionsSM (FROsSM), which will begin trading on May 8. FROs are “binary” options on popular equities and exchange traded funds (ETFs), including QQQQ, SPDRs and Google that will pay a fixed, cash amount of $100.00 upon settlement “in-the-money.” Fixed Return Options are offered in two forms: “Finish High” – each long contract returns $100.00 if the underlying security settlement value is above the strike price at expiration and “Finish Low” – each long contract returns $100.00 if the underlying security settlement value is below the strike price at expiration. FROs will settle at expiration based on Amex. FRO Settlement Index that will ...