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No Dog Days Of Summer For Equity Options Trading Broken Records Underscore Remarkable Trading Year

ChicagoSeptember 8, 1999

The Options Industry Council (OIC) announced today that equity options trading volume in August rose 25% from the same period last year, with 34,148,663 contracts changing hands. The August 1998 figure was 27,341,522.

The Options Industry Council (OIC) announced today that equity options trading volume in August rose 25% from the same period last year, with 34,148,663 contracts changing hands. The August 1998 figure was 27,341,522.

Average daily volume for the month was 1,552,212 contracts. Year-to-date, cleared volume for equity options as of August 31,1999 was 264,351,740.

"That equity open interest continues to set new records in a year characterized by reactionary news stories is a strong indication of investor confidence in options as a solid investment tool," said Paul Stevens, the OIC President. An equity option is the right but not the obligation to either buy or sell 100 shares of stock at a predetermined price (strike price) on or before a fixed date (expiration date).

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 now available for free to seminar attendees and can be downloaded from OIC's web site. A print and broadcast advertising campaign has resulted in more than 250,000 inquiries seeking literature and videotapes.

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