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OIC Announces All-Time Volume and Open Interest Records Year-to-date volume ahead 12.45 percent
Chicago—November 5, 2003
The Options Industry Council (OIC) announced today that October equity options volume set a new record for month-end volume with 88,444,046 contracts (34,560,407 puts and 53,883,639 calls). This is a 25.87 percent increase over the 70,266,228 contracts (30,165,139 puts and 40,101,089 calls) traded in October 2002. The previous record for month-end volume was set in July 2002 with 75,488,393 contracts.
Year-to-date equity options volume is 677,431,315 contracts vs. 602,417,995 contracts during the same time period in 2002. This represents a 12.45 percent increase.
On Oct. 17, 5,600,929 equity options contracts traded, making it the fourth highest trading day on record and the highest trading day of the year for equity options volume.
October's average daily equity options volume rose to a new record with 3,845,393 contracts. This volume represents a 25.87 percent increase from 3,055,053 contracts traded in October 2002. The previous record was set in June 2003 with 3,585,814 contracts.
"October was certainly an exciting month for the equity options marketplace as many new records for volume were set," said Paul Stevens, President, OIC. "The unprecedented numbers in both options volume and open interest indicate the continued strength and versatility of the options product. We look forward to continuing our climb toward the highest year on record."
Equity open interest continued reaching new heights in October. On Oct. 13, equity open interest hit a new record-breaking one-day high with 125,804,269 contracts, beginning a five-day run of new records that peaked at 130,676,335 contracts on Oct. 17. The previous single day high for equity open interest occurred on Sept. 19 with 125,049,649 contracts.
October month-end equity open interest of 121,322,298 contracts surpassed October 2002 month-end equity open interest of 92,923,852 contracts by 30.56 percent. This also set a new month-end record, surpassing the previous record set in September with 116,149,954 contracts.
Equity open interest is the total number of options contracts not yet exercised or allowed to expire.
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. OIC's free resources include: The Investor 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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