23 CAR § 2-306. Certain transactions subject to Section 1 of the act

(a) The acquisition or disposition of any transferable option, put, call, spread, or straddle shall be deemed such a change in the beneficial ownership of the security to which such privilege relates as to require the filing of a statement reflecting the acquisition or disposition of such privilege. (b) Nothing in this section, however, shall exempt any person from filing the statements required upon the exercise of such: (1) Option; (2) Put; (3) Call; (4) Spread; or (5) Straddle.