OLIN Corp — Director's Dealing 2006

Feb 13, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OLIN CORP (OLN)
CIK: 0000074303
Period of Report: 2006-02-09

Reporting Person: PAIN GEORGE H (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-09	Employee Stock Option (right to buy)	$20.68	A	38000	Acquired	2016-02-08	Common Stock (38000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock $1 par value	950	Indirect
Common Stock $1 par value	980.0261	Indirect

Footnotes

F1: Represents shares held in a revocable trust controlled by the reporting person's spouse and for the benefit of his spouse.

F2: The figure shown represents shares of Olin Common Stock acquired on a periodic basis under the Olin Contributing Employee Ownership Plan (CEOP), a tax-conditioned plan, and held in the Olin Common Stock Fund of the CEOP, in a transaction exempt under Rule 16b-3, and is based on information provided by the Plan Administrator as of January 15, 2006.

F3: The option vests in three annual installments beginning February 9, 2007.