OIC Announces Year to Date Volume is Ahead 42.08 Percent Month-end equity open interest reaches new heights

Chicago—July 7, 2004

The Options Industry Council (OIC) announced today that year to date equity options volume of 543,063,878 contracts is 42.08 percent greater than the same time period last year with 382,201,222 contracts.

June equity options volume was 76,047,664 contracts (31,404,083 puts and 44,643,581 calls) vs. 75,302,094 contracts (29,177,920 puts and 46,124,174 calls) in June 2003. This represents a slight increase from the previous year and the highest June on record.

June month-end equity options open interest reached new heights this month with 128,369,293 contracts. This exceeds June 2003 equity open interest of 103,603,095 contracts by 23.90 percent and surpasses the previous record set in May with 125,555,189 contracts. The peak day for equity open interest occurred on June 18 with 139,084,797 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.

"As we complete the first six months of the year, the equity options market is maintaining its ascent to a record-breaking year in volume," said Paul Stevens, President, OIC. "The new equity open interest record reflects the increased investor interest in the options marketplace. We hope that investors will continue to hedge and invest with options during these typically quiet summer months."

June average daily equity options volume was 3,621,317 contracts vs. 3,585,814 contracts. The highest trading day in June occurred on June 18 when 5,139,009 contracts traded.

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. OIC's free 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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