On July 29th, the SEC approved the Chicago Board Options Exchange's proposal to list and trade cash-settled, P.M.-settled, European-style exercise options that overlie the ordinary cash dividends paid by an issuer over an annual accrual period. CBOE also may list series of SSDOs with an accrual period of less than a year, but in no event less than one quarter of a year. SEC Release No. 34-64991.