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The Options Industry Council Announces New Monthly Volume Record As Trading Soars 55% Over September Last Year

Chicago—October 4, 2005

The Options Industry Council (OIC) announced today that a new monthly trading volume record has been set for the fourth time this year.

September options trading volume totaled 131,873,598 contracts, a 54.5% increase over the year-ago level of 85,362,710. September volume was 6.2% higher than the previous monthly record for total options trading set in April. September marks the twelfth consecutive month that total options trading has exceeded 100 million contracts.

On Sept. 16, total options trading volume surpassed 1 billion contracts for only the second time in history, achieving this milestone two months faster than it was reached last year. Year-to-date options volume finished September at 1,062,893,788 contracts traded, a 24.4% increase over the same period in 2004.

Equity options volume for September also set a new monthly trading record when it reached 120,125,847 contracts (48,469,302 puts and 71,656,545 calls), 54.3% higher than September last year and 6.4% higher than the previous monthly record set in March. Year-to-date equity options trading volume is up 23.5% over the same period a year ago.

September also brought to a close the highest volume quarter ever recorded with 367,005,789 contracts changing hands - more contracts than were traded in all of 1997. Total options trading in the third quarter 2005 was 39.3% higher than 3Q04, and - despite including the traditionally slower trading summer months of July and August - broke the quarterly volume record set in the previous quarter by 5.4%.

September Highlights

A new open interest record of 198,872,661 contracts was set on September 16. Open interest is the total number of options contracts that have not yet been offset, exercised or allowed to expire.

Additional volume statistics reported by The Options Clearing Corporation include:

  • Average daily equity options volume: 5,720,278 (up 54.3% from September 2004)
  • Average daily total options volume: 6,279,695 (up 54.5% from September 2004)
  • Three days were added to the top 10 volume days in September. On Sept. 15, 10,477,903 contracts traded to become the second highest volume day on record. The fifth highest volume day was recorded on Sept. 16, with 8,303,714 contracts changing hands, and Sept. 12 became the sixth highest volume day with 8,183,071 contracts traded. Nine of the top 10 volume days have been recorded in 2005.
  • Three days were added to the top 10 equity volume days in September. September 15 became the second highest equity option trading day when 9,612,145 contracts changed hands. The fifth highest equity volume day was Sept. 12, with 7,616,021 contracts traded, and Sept. 16 came in as the seventh highest equity option day at 7,097,411 contracts traded. Eight of the top 10 equity volume days have been recorded in 2005.

About OIC

OIC is a non-profit association funded by the U.S. options exchanges 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, educational literature and software.

Press Contacts

Jim Binder
312-322-9853
jbinder@theocc.com

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