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CBOE® Index Volume Up 65%; DJX, QQQ and SPXsm Lead Gains

Date 01/02/2002

Index volume continued its strong growth in January at the Chicago Board Options Exchange (CBOE). Total index option volume at CBOE increased by 65% to 6,234,247 contracts from 3,783,831 contracts in January 2001. Open interest in all CBOE index options stood at 8,069,214 contracts (3,916,515 calls and 4,152,699 puts) at the end of January, an increase of 121% versus January 2001 when open interest stood at 3,652,703 contracts.

Total exchange volume for the month of January was 26,164,701 contracts (15,071,824 calls and 11,092,877 puts), a decrease of 13% from the January 2001 level when 30,163,174 contracts traded. In January, open interest in all CBOE listed options stood at 61,452,893 contracts (37,164,016 calls and 24,288,877 puts) at month's end, an increase of 34% over the end of January last year, when open interest stood at 45,945,864 contracts. CBOE exchange-wide average daily volume for the month was 1,245,938 contracts, compared to January 2001's average daily volume of 1,436,342 contracts.

Stock option volume for the month of January totaled 19,928,001 contracts, a decrease of 24% from January 2001's level of 26,377,098 contracts. Open interest in stock options stood at 53,376,982 contracts (33,245,247 calls and 20,131,735 puts) at the end of January, an increase of 26% over the year-ago January level of 42,288,884 contracts.

Volume in equity LEAPS (Long-Term Equity AnticiPation Securities) for the month of January increased by 3.5% to 2,135,008 contracts, up from 2,062,964 contracts traded in January 2001.

The S&P 500® Index options (SPX) were the most actively traded index options at CBOE, with a total of 2,049,557 contracts traded, an increase of 14% over the January 2001 volume of 1,794,368 contracts. Open interest in SPX stood at 1,726,283 contracts at the end of January, an increase of 13% over year-ago levels.

Options on the Nasdaq-100 Index Tracking Stock (QQQ), continued to be among the most actively traded index contracts at CBOE. QQQ volume reached 1,901,904 contracts for the month of January, up 39% from December's volume of 1,369,186 contracts. Open interest in the QQQ stood at 3,255,188 contracts at the end of the month.

Trading volume during the month of January in options on the Dow Jones Industrial Average (DJX) surged to 581,610 contracts traded-an increase of 156% over January 2001's level of 226,793 contracts. Open interest in the DJX options stood at 611,144 at month's end, compared to 276,601 contracts at the end of January 2001, an increase of 121%.

Volume in options on the S&P 100 Index with European-style exercise (XEO), launched on July 23 last year, showed strong growth during January, with 161,607 contracts traded, an 80% increase over the December month-end level. Trading volume for the month of January in the S&P 100® Index options (OEX®) was 770,945 contracts, compared to 810,465 contracts in January 2001. Combined XEO and OEX volume totaled 932,552 contracts.

Volume in the Mini-NDX Index options (MNX), an index option based on one-tenth of the Nasdaq-100 Index, for the month of January was 450,798 contracts, representing a decrease of 19% over the January 2001 total of 554,804 contracts traded. Open interest in MNX stood at 656,736 contracts, up 64% from the end of January last year when open interest stood at 401,070 contracts.

CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, access the CBOE site on the World Wide Web at http://www.cboe.com