Options Industry Sets Records For Tenth Consecutive Year Daily Equity Open Interest Sets New Record

ChicagoJanuary 7, 2002

The Options Industry Council (OIC) announced today that for the tenth consecutive year, total equity options volume hit new heights. Volume in 2001 reached 722,680,249 contracts, a 7.4 percent increase from 672,871,757 contracts in 2000. Average daily equity volume for 2001 rose 9.1 percent to 2,914,033 contracts from 2,670,126 contracts in 2000.

Daily equity open interest reached a new single day high in December. On Dec. 21, equity open interest stood at 95,632,541 contracts, after increasing throughout the month of December. During 2001, equity open interest set numerous single day records, beginning on Jan. 19 with 80,380,234 contracts.

Month-end equity open interest for December 2001 was 81,597,318 contracts, up from 67,635,806 contracts in December 2000.

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.

"The options industry's ten years of consecutive growth and rising equity open interest exemplify investors' belief and interest in the equity options market," said Paul Stevens, President, OIC. "We look forward to many great years ahead for the options marketplace."

December 2001 equity volume was 51,236,933 contracts (20,249,164 puts and 30,987,769 calls), vs. December 2000 equity volume of 59,121,603 contracts (22,935,054 puts and 36,186,549 calls). Average daily equity volume in December 2001 was 2,561,847 contracts as compared to 2,956,080 contracts in 2000.

2001 Records

In addition to the annual record volume and the equity open interest records, the equity options industry saw additional records set and broken during 2001. January rang in the new year and remained the month with the highest monthly equity volume of 73,284,884 contracts. The highest trading day (a new record set for daily volume) occurred on April 18 with 6,224,906 contracts. April also established the peak for average daily equity options volume with 3,525,531 contracts.

OIC Educational Efforts in 2001

In 2001, OIC continued to offer its free educational seminars nationwide in more than 90 cities. This year, OIC introduced "Options Strategies for Your Clients" seminars for Series 7 Brokers-only in Denver and New York. OIC also expanded its online education offerings with the Options Basics and Contract Adjustments classes. Investors and brokers are also able to review daily volume, open interest and historical statistics online.

About 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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