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Year-End Equity Options Surpasses Previous Year Volume by 30.51 Percent

Chicago—January 7, 2005

The Options Industry Council (OIC) announced today that total equity options volume reached 1,083,649,226 contracts, exceeding the 830,308,227 total equity options volume contracts traded in 2003 by 30.51 percent. This year's volume set a new annual volume record, surpassing the previous record set last year.

December volume highlights include

  • December month-end equity options volume of 96,250,379 contracts (35,137,812 puts and 61,112,567 calls) rose 17.45 percent from 81,949,824 contracts (30,065,926 puts and 51,883,898 calls). At its highest point on December 17, equity options volume hit 6,302,999 contracts. This is the fifth highest day for equity options volume.

  • December average daily equity options volume was 4,375,017 contracts vs. 3,724,992 contracts in December 2003. This indicates a 17.45 percent increase.

  • Month-end equity open interest for December 2004 was 149,841,144 contracts vs. December 2003 with 121,897,374 contracts, a 22.92 percent increase. This also represents a new record for month-end equity open interest, surpassing the previous record set in November with 148,600,740 contracts.

"This year’s record-breaking equity options volume is off the charts," said Gina McFadden, Executive Director, OIC. "We look forward to another strong year in 2005 and continue to encourage investors to utilize OIC’s diverse educational offerings."

A Review of 2004 Records

In addition to hitting a new annual equity options volume record, these additional records were set during 2004.

  • Month-end equity options volume record in January - 106,416,257 contracts.
  • Highest single trading day in 2004 for equity options volume - January 16 with 8,036,618 contracts.
  • Average daily equity options volume - 5,320,813 contracts in January.
  • Peak Day for Equity Options Open Interest - Nov. 19, with 165,209,612 contracts.

More details on historical equity options trading data are available in the "Market Data" section of the OIC Web site at www.888options.com.

About OIC

OIC is a non-profit association funded by the American Stock Exchange, Boston Options Exchange, Chicago Board Options Exchange, International Securities Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation. 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.

Press Contact

Debbie Baratz
312-322-6267
dbaratz@theocc.com

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