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OIC Timeline

 

2011

  • On May 12, OIC released the results of the Financial Advisor Benchmark Study, conducted by Bellomy Research, which found that options usage among advisors is on the rise and advisors who use options tend to have more assets under management than non-users.
  • In June, Mary Savoie succeeds Susan Milligan as OIC Executive Director.
  • OIC names Alan Grigoletto as Director of Education on June 21 as part of its expanding effort to educate retail investors, their financial advisors and institutional investors on the risks and benefits of exchange-listed options.
  • On August 8, 41,535,580 contracts were traded, establishing a new daily volume record and marking the first time over 40 million contracts were traded in one day.
  • August saw the top four of the ten highest volume days for both total options and equity options.
  • A new monthly record volume is achieved in August with 550,049,407 contracts changing hands; the first time in history monthly volume has surpassed half a billion contracts.
  • On September 6, OIC presented the results of the study, European Demand for U.S. Listed Equity Options, conducted by Tabb which found that 10 percent of U.S. listed options volume originates from Europe today, and this amount is likely to increase as a result of global regulatory efforts to reduce risk.
  • OIC renamed its popular Call Center, also commonly referred to as the Help Desk, to Investor Services in September.
  • On September 14 OIC presented the results and analysis of the performance of a buy-write strategy on the Russell 2000®, which found that over the 15 year period covered in the study (including the periods before, during and after the credit crisis), the buy-write strategy provided a higher return than a long RUT portfolio while reducing risk by almost 17%.
  • Total options volume surpassed 4 billion contracts for the first time in history on November 9.
  • Total options trading volume for 2011 came in at 4,562,748,194 contracts, surpassing last year’s record by 17.02 percent.

2010

  • On February 24, results of the Financial Advisor Engagement Study, conducted by the Diamond Group Ltd. were released and found advisors inclined to use options to be more knowledgeable about different investment products with more assets under management than those disinclined.
  • BATS Options joined OIC in March.
  • On April 29, OIC released the results of the latest study conducted by Harris Interactive Inc. and found that not only are investors who use options more educated and affluent than investors who don’t use options, they also tend to be more strategic investors who are more open to new ideas.
  • On April 30, OIC announced its partnership with Financial Technologies Group to offer options education in India.
  • Options trading volume for 2010 came in at 3,899,068,670 contracts, surpassing 2009’s record year by 7.93 percent.

2009

  • In January, OIC signs content licensing agreements with both the Tokyo Stock Exchange and NASDAQ Dubai to develop options education programs in those regions.
  • In March, OIC adds Joe Burgoyne as the new Director of Institutional and Retail Marketing and Gary Delany as a consultant in the role of Director, European Marketing and Education.
  • On April 7, OIC announces the launch of a dedicated financial advisor web portal and the addition of Eric Cott as Director of Financial Advisor Education.
  • On September 23, OIC announced a new study that finds the use of options in a collar strategy on the PowerShares QQQ™ ETF provides superior returns to the traditional buy and hold strategy while reducing risk by almost 65%.
  • On October 8, OIC and Rutgers announced a unique partnership to launch a new options education program that will offer continuing education credits for financial advisors.
  • Total options trading volume in October 2009 came in at 330,432,938 options contracts, down 12.1 percent compared to October 2008. Total options volume was on pace for a record year despite this decline.
  • A new annual volume record was set in 2009 with a total of 3,612,637,118 contracts trading, surpassing 2008's record by .84 percent.

2008

  • In February, OIC announces its new, updated spring schedule of live seminars covering basic and intermediate options essentials for investors and financial advisors.
  • OIC experiences record registration and attendance at seminars as the spring sessions get underway.
  • In April, the Montreal Exchange and OIC team up to offer options education to Canadian investors beginning with live seminars on April 5 and 6.
  • On May 1, OIC announces the findings of the UMass Collar Strategy Study, which showed that the returns of passive collar strategy on the PowerShares QQQ ™ ETF provided greater returns than buying and holding the NASDAQ-100 Index ETF.
  • NASDAQ Options Market joined OIC in May.
  • In September, The Thailand Futures Exchange and OIC announced an agreement to cooperate to educate Thai investors via information sharing and co-branding of OIC’s materials.
  • Two of the top 10 highest volume days are recorded back-to-back September 17 and 18 as total options volume surpassed 26 million contracts and 30 million contracts respectively.
  • A new monthly record is achieved in September as 374,531,673 total options were traded.
  • Total options volume surpassed 3 billion contracts for the first time in history on October 20.
  • In November, The Warsaw Stock Exchange and OIC entered into a licensing agreement to develop an educational program aimed at Polish investors.
  • A new annual volume record was set in 2008 with a total of 3,582,572,581 contracts trading, surpassing 2007’s record by 25.14 percent.

2007

  • In January, Susan Milligan succeeds Michael Walinskas as OIC Executive Director.
  • A new record trading day is set on February 27, 2007, with 18,281,667 contracts traded.
  • OIC launches www.OICoptions.com, the new home for options information and education geared to institutional investors.
  • OIC enhances classroom education by offering options classes from basic to advanced levels.
  • OIC celebrates 15 years of options education and co-hosts an equity options conference with FIA in New York.
  • Total options trading volume for the year surpassed 2 billion contracts for just the second time in history on September 26.
  • November experienced the highest trading volume reached in a single month with 310,801,122 contracts changing hands.
  • December saw a new annual volume record with a total of 2,862,826,218 contracts changing hands, surpassing 2006’s record by 41.18%.

2006

  • A record trading day is set on January 20 when 14,888,644 total contracts are traded.
  • A new monthly record is set in May when 199,714,215 total options contracts are traded.
  • Options trading reached 1 billion contracts on June 29, 2006, making it the third consecutive year that trading volume achieved that level.
  • OIC enjoys a successful launch of new educational offerings – on-demand webcasts, podcasts and an interactive DVD.
  • The results of OIC’s European User Study, conducted by Capco, were released on September 20, which showed that 15-20 percent of exchange-traded options volume originates from Europe.
  • OIC's governing committee is restructured to include representatives from securities firms that are active options market participants.
  • On December 22, total options contracts surpasses 2 billion contracts for the first time ever in a single trading year. The year concludes with 2,027,847,586 total options contracts traded, setting a new annual volume record.

2005

  • New monthly equity options volume record is set in March with 112,872,709 contracts traded.
  • In April, OIC conducted a five-city Fund Managers educational road show in Europe. The cities were Amsterdam, London, Milan, Frankfurt and Zurich.
  • On April 15, 10,097,235 equity options contracts traded setting a new daily record.
  • In April, Michael Walinskas succeeds Gina McFadden as OIC Executive Director.
  • The results of the Harris Interactive Study were release on April 25, providing an extensive profile of options investors while comparing them to investors who do not use options.
  • On October 4, OIC launched a redesigned web site, www.OptionsEducation.org, featuring new interactive options learning tools, improved usability and design, up-to-date web technologies and a new navigation scheme.
  • 2005’s total volume set a new annual volume record, with a total of 1,504,311,540 contracts, surpassing 2004’s previous record by an increase of 27.3%.

2004

  • January kicks off the year with new volume records:
    Highest month-end for equity options with 106,416,257 contracts
    Seven trading days join the top 10 for equity options volume
    Highest trading day on record for equity options - Jan. 16 with 8,036,618 contracts
    Highest peak day for equity open interest - Jan. 16 with 138,999,195 contracts
  • OIC, in collaboration with Lightbulb Press, launches in February the new options book, "An Investor's Guide to Trading Options."
  • On May 3, Paul Stevens, President, OIC received the third annual Joseph P. Sullivan Options Industry Achievement Award on behalf of the entire options industry at the 22nd Annual Options Industry Conference.
  • In August, the Boston Options Exchange (BOX) becomes a member of the Options Industry Council.
  • Equity options hit a new annual record on October 15, at 835,047,806 contracts traded, exceeding the 2003 record of 830,308,227 contracts.
  • In December, equity options volume hits one billion contracts for the first time. The year concludes with total equity options volume reaching 1,083,649,226 contracts, exceeding the 830,308,227 total equity options volume contracts traded in 2003 by 30.51 percent. This year's volume set a new annual volume record, surpassing the previous record set last year.
  • At year end, Paul Stevens retires as OIC President. He is replaced by George S. Hender, who also serves as Member Vice Chairman to OCC.

2003

  • OIC introduces Options University (OU), its latest free educational offering. OU is a comprehensive educational mini site that offers a variety of online options classes, strategy tools and other educational resources.
  • OIC launches an advanced class in October to its live seminar curriculum, "Advanced Options for the Real World."
  • OIC participates in a new live options seminar series, "Options for the Thinking Investor" with the Singapore-based group, Marketwise.
  • 2003 total equity options volume reaches 830,308,227 contracts, setting a new annual volume record, surpassing the previous record set with 722,680,249 contracts in 2001.
cd

2002

  • OIC introduces the Options Investigator™, an interactive educational CD that offers 400 educational tutorials with 40 interactive strategies.
  • OIC introduces the new online class, "Covered Calls", which defines covered calls, explains the benefits of the covered call strategy, demonstrates how the covered call strategy works and speculative vs. defensive covered call writing.
  • In March, OIC and Australian Stock Exchange participate in an educational road show in Australia.
  • In July, the month-end equity options volume reaches a new high with 75,488,393 contracts.
  • Equity open interest reaches the 100 million mark for the first time in October.

2001

  • In January, the New Year kicks off with records in monthly volume (73,284,884 contracts), single equity open interest day (80,380,234 contracts) and a single day record.
  • OIC and the Australian Stock Exchange (ASX) announce in April that they have formed an alliance to share educational resources and options industry research.
  • OIC conducts road shows in Hong Kong and Singapore.
  • The markets close for four days in September in response to the events of Sept. 11.
  • On Dec. 5, total equity options reaches another milestone with total equity options volume reaching a new high of 673,574,100 contracts. This new high represents the tenth consecutive record year.
site

2000

  • OIC establishes a Call Center in July at 1-888-OPTIONS for individual investors and brokers.
  • OIC launches a new Web site, www.888options.com, with options tools, seminar registration, pricing calculators, extensive trading data, opportunity to subscribe to e-mail alerts, and an "Options Store." Together with the Call Center, the resource is named Options Industry Services.
  • OIC debuts online classes on www.888options.com.
  • OIC translates select OIC educational brochures to Spanish and Chinese in direct response to marketplace needs.
  • The International Securities Exchange joins OIC in September.
leaps-and-options

1999

  • OIC introduces a LEAPS® curriculum with a new seminar and videotape.
  • OIC implements several enhancements to www.optionscentral.com, making online educational resources more accessible. The site allows investors to register online for seminars, download the interactive software package, The Options Toolbox, order instructional videotapes and gather options strategies.
  • OIC conducts a sophisticated database analysis to build an investor profile that will assist in reaching the active investor of the next century.
  • OIC's London office builds a European presence through a series of educational efforts that target audiences in Switzerland and Germany.

1998

  • OIC participates in several new options forums and supports a Congressional Aides educational program in Washington, D.C.
  • OIC promotes awareness and education among institutional fund managers.
  • OIC unveils a new $1.8 million national advertising campaign

1997

  • OIC produces a new television and print media campaign.
  • OIC expands its video that over 200,000 investors and brokers already received, to include a discussion of Long-Term AnticiPation Securities (LEAPS®).
  • OIC enhances its Web site.
  • OIC expands its Broker Outreach Program by offering broker information booths at most of its educational seminars. Seminar attendees are also eligible to receive a free copy of the CD tutorial, The Options Toolbox.
  • OIC opens a London office to further develop relations with international investors and increase overseas options trading in the U.S. markets by educating financial institutions on the benefits of equity and index options.
  • With the repeal of the "short-short" rule, OIC creates an educational program that reintroduces portfolio managers to the benefits of options.

1996

  • OIC reaches a new one-day high in equity trading volume with 1,661,797 contracts. The previous volume record had been set on October 16, 1987.
  • OIC launches its Internet site, www.optionscentral.com, in April. It is the first to be developed by a consortium of exchanges.

1995

  • OIC offers a new advanced strategies video and practical applications workshop.
  • OIC commissions a comprehensive study of options users by Yankelovich Partners. The study determines that today's options investors are more affluent and knowledgeable than ever before. It also finds that these individuals have higher levels of product knowledge, income, and investments, and have a higher net worth than their peers.
  • Total equity options volume reaches 174.4 million contracts, surpassing the previous record set in 1987 by six percent.

1994

  • OIC adds an advanced strategy session to its 82 annual seminars.
  • Equity options volume has increased by 30 percent since OIC's inception and equity open interest has set records over the past two years.
  • OIC publishes the inaugural edition of its newsletter, The Blueprint.
  • OIC receives media coverage in publications and television programs such as The Wall Street Journal, Newsweek, Business Week, Nightly Business Report and USA Today.
  • CNBC airs a 30-minute segment on options in November that included an interview with Paul Stevens, President of OIC.

1993

  • A nationwide series of seminars providing basic options education for investors commences early in the year and extends to 27 cities.
  • OIC introduces intermediate seminars to its educational program and expands its reach to more than 50 cities across North America. Over 3300 investors and brokers attended these seminars.
  • Options volume increases nearly 20 percent over the previous year.

1992

  • The Options Industry Council is formed by the The Options Clearing Corporation (OCC), the American Stock Exchange (AMEX), Chicago Board Options Exchange (CBOE), New York Stock Exchange (NYSE), Pacific Stock Exchange (PSE) and Philadelphia Stock Exchange (PHLX). OIC's mission is to increase individual investor awareness and understanding of stock options.
  • On September 30, OIC formally introduces itself to the options world with a special celebration in New York.
  • OIC launches a three-year, six million dollar campaign promoting the "The Options Tool" to reintroduce listed stock options to the public. The campaign includes television and prints ads and the production and distribution of a 20-minute educational videotape. In the first three months, over 30,000 investors and brokers respond to the ads by calling a toll free number to receive the videotape and other educational materials.
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