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OIC Announces Equity Open Interest Reaches New Heights Year-to-date equity volume up 10.5 percent

ChicagoNovember 7, 2001

The Options Industry Council (OIC) announced today that equity open interest attained new heights in October. Month-end equity open interest for October reached 79,392,157 contracts, breaking the previous record set in June with 75,742,279 contracts, and 22.3 percent higher than October 2000 with 64,915,538 contracts. On Oct. 19, equity open interest set a new single day record with 89,741,275 contracts, surpassing the previous record set on July 20 with 86,414,052 contracts.

Equity open interest, the total number of options contracts not yet exercised or allowed to expire, is seen as an indication of longer-term investing in these instruments.

Year-to-date equity option volume of 613,510,909 contracts is 10.5 percent ahead of the 555,059,400 contracts traded during the same time frame in 2000.

"Overall, we are pleased with the resiliency of the options marketplace considering the current economic situation. Investors are making sound use of options as an investment tool," said Paul Stevens, President, OIC." They continue to use equity options for both long-term investing and hedging their portfolios."

Average daily equity volume in October was 2,888,996 contracts as compared to 3,185,440 contracts for October 2000. October equity volume was 66,446,907 contracts (26,405,929 puts and 40,040,978 calls) while 70,079,672 contracts (27,768,702 puts and 42,310,970 calls) changed hands in October 2000.

To review daily volume statistics for the year to date, please visit OIC's volume statistics page at http://www.888options.com/news/volume/daily_volume.jsp.

OIC is a non-profit organization founded in 1992 by the nation's options exchanges to provide investor education about equity options. Today, its members include The American Stock Exchange, Chicago Board Options Exchange, International Securities Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation. OIC's free educational programs include: a call center, which provides U.S. investors with comprehensive options information, education and trading data at no cost from options experts; an educational Web site at www.888options.com; evening seminars throughout the continental United States and Canada; instructional videos, educational brochures and interactive software. More information on these resources is available by visiting the Web site or sending e-mail to options@theocc.com. U.S. inquiries can also be directed to the call center at 888-OPTIONS (888-678-4667).

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