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Options Trading Volume Reaches Three Milestones In April

ChicagoMay 7, 1999

The Options Industry Council (OIC) announced today that equity options trading volume last month hit a record 37,656,322 contracts, a 27 percent increase over the 29,579,385 contracts traded during April of last year. The new record exceeds the 34,804,991 contracts traded in January of 1999, the previous top mark for any month. In addition, the highest one-day equity options volume ever was recorded on April 16 as 2,692,301 contracts exchanged hands. The previous record of 2,639,749 was set last January.

The Options Industry Council (OIC) announced today that equity options trading volume last month hit a record 37,656,322 contracts, a 27 percent increase over the 29,579,385 contracts traded during April of last year. The new record exceeds the 34,804,991 contracts traded in January of 1999, the previous top mark for any month. In addition, the highest one-day equity options volume ever was recorded on April 16 as 2,692,301 contracts exchanged hands. The previous record of 2,639,749 was set last January.

"Investors have been riding the current bull market for some time now - a momentum that started last October when the Dow began its march upward from 7400. Many investors believe that there is still room for growth, and they are using options as a way to invest in that possibility," said Paul Stevens, the OIC President.

The OIC, which includes the American Stock Exchange, Chicago Board Options Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation, has an extensive educational program.

The program, aimed at current and potential investors and their brokers, includes a web site at www.optionscentral.com, two instructional videos: "How To Optimize Your Stock Portfolio With Options" and "Investing with LEAPS®" available at 800/952-8665, and free evening seminars throughout the continental United States and Canada.

Interactive educational software, "The Options Toolbox," is available for free to seminar attendees. A print and broadcast advertising campaign has resulted in more than 250,000 inquiries seeking literature and videotapes.

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