OIC Announces All-Time Volume And Open Interest Records July options volume exceeds 2001 by 34.9 percent
Chicago—August 05, 2002
The Options Industry Council (OIC) announced today that July equity options volume reached a new month-end high with 75,488,393 contracts (32,636,306 puts and 42,852,087 calls), surpassing the previous record set in January 2001 with 73,284,884 contracts (26,106,065 puts and 47,178,819 calls). Month-end volume represented a 34.9 percent increase over the 55,954,942 contracts (22,245,677 puts and 33,709,265 calls) traded in July 2001.
Month-end equity open interest also hit a record high with 85,966,152 contracts, exceeding the previous record set November 2001 with 84,411,277 contracts and representing a 19 percent increase over month-end equity open interest of 72,222,131 contracts in July 2001. Equity open interest hit a new single day high on July 19 with 95,734,008 contracts, surpassing the previous record set on Dec. 21, 2001 with 95,632,541 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.
On July 24, the equity options daily volume reached 4,837,478 contracts. This represents the highest single day in 2002 and the sixth highest trading day on record. Average daily equity options volume in July was 3,431,291 contracts, a 28.7 percent increase over 2,664,521 contracts traded in July 2001. Year-to-date equity options volume is 427,828,408 contracts, vs. 446,100,301 contracts for the same time period.
"July's volatile markets have been unprecedented. Its record-breaking volume and equity open interest demonstrates that investors understand that options are an important and powerful tool during these times," said Paul Stevens, President, OIC.
OIC is a non-profit association funded by the American Stock Exchange, Chicago Board Options Exchange, International Securities Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation. In 2002, OIC is celebrating its 10-year anniversary of providing investors and brokers options education. OIC's resources include: The Options Industry Services call center at 1-888-OPTIONS, an educational Web site at www.888options.com, evening seminars throughout the continental United States and Canada, instructional videos and educational literature and software.
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