Subject: File No. SR-Phlx-2012-126
From: Ron H Bane

November 10, 2012

Option trading is confusing enough as it is. Creating a new set of "mini options" will only create confusion on the part of investors and will significantly increase the chances of making mistakes.
If an investor cannnot afford the cost of 100 share option contracts, then he/she probably should not be trading options anyway.