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CBOE® Sets Volume Record In The New S&P100® Index Options (XEO Sm) In October - Three New Sector Indexes Listed

Date 02/11/2001

Total volume at the Chicago Board Options Exchange® (CBOE) was boosted by heavy trading in several CBOE index options which have seen a surge in activity from investors looking for broad market protection. Volume in options on the S&P 100 Index with European-style exercise (XEO), launched on July 23rd of this year, set a record of 228,786 contracts (84,042 calls and 144,744 puts) traded in October. A single-day volume record was set in XEO options on October 19th when 70,093 contracts traded. Open interest in the XEO also set a record, standing at 170,413 contracts at month's end, compared to 16,169 contracts at the end of September.

Total exchange volume for the month of October was 28,383,408 contracts (16,611,641 calls and 11,771,767 puts), an increase of 13% over September's robust volume of 24,968,536 contracts, but down from the October, 2000 level when 32,435,127 contracts traded.

In October, CBOE exchange-wide average daily volume for the month was 1,234,061 contracts, a decrease of 16% versus October, 2000's average daily volume total of 1,474,324 contracts. Open interest in all CBOE listed options stood at 73,018,139 contracts (46,072,843 calls and 26,945,296 puts) at month's end, an increase of 35% over the end of October last year, when open interest stood at 54,058,852 contracts.

Stock option volume for the month of October totaled 20,453,837 contracts (13,042,571 calls and 7,411,266 puts), a decrease of 26% from October, 2000's record-setting level of 27,680,314 stock option contracts. Open interest in stock options stood at 62,939,666 contracts (40,953,494 calls and 21,986,172 puts) at the end of October, an increase of 26% over the year-ago October level of 49,814,425 contracts.

Total index option volume at CBOE increased by an impressive 67% to 7,926,426 contracts (3,567,573 calls and 4,358,853 puts) from 4,753,834 contracts in October 2000. Open interest in all CBOE index options stood at 10,071,281 contracts (5,115,639 calls and 4,955,642 puts) at the end of October, an increase of 137% versus October 2000 when open interest stood at 4,240,918 contracts.

Options on the Nasdaq-100 Index Tracking StockSM (QQQ), continued to be the most actively traded index contract at CBOE. QQQ volume reached 2,469,485 contracts (1,305,357 calls and 1,164,128 puts) for the month of October. Open interest in the QQQ stood at 4,270,953 contracts at the end of the month, up 24% from September's month end level of 3,454,072 contracts.

Trading volume during the month of October in options on the Dow Jones Industrial AverageSM (DJX) was the second busiest on record, with 1,166,967 contracts (325,535 calls and 841,432 puts) trading-an incredible 201% increase over October, 2000's record level of 387,743 contracts. Open interest in the DJX options stood at 906,442 at month's end, compared to 492,974 contracts at the end of October 2000.

Trading in S&P 500® Index options (SPXTM) totaled 2,275,625 contracts (989,772 calls and 1,285,853 puts), an increase of 5% over the October, 2000 volume of 2,174,458 contracts. Open interest in SPX stood at 1,892,659 contracts at the end of October.

Trading volume for the month of October in the S&P 100® Index options (OEX®) was 791,134 contracts (344,970 calls and 446,164 puts), a decrease of 42% from October 2000. (As mentioned earlier, total volume in the XEO contract was 228,786 contracts during October.) Open interest in OEX stood at 237,389 contracts (and 170,413 contracts in the XEO) at the end of October.

Volume in the popular Mini Nasdaq-100® Index options (MNXSM) for the month of October was 588,526 contracts (323,709 calls and 264,817 puts), representing an increase of 72% over the October, 2000 total of 342,940 contracts traded. Open interest in MNX stood at 701,038 contracts, up 202% from the end of October last year when open interest stood at 232,337 contracts.

On October 22, 2001 CBOE listed options on three new sector indexes: the Morgan Stanley Biotech Index (MVB), Morgan Stanley Oil Services Index (MGO) and Morgan Stanley Retail Index (MVR). The Indices are comprised of the most highly capitalized, liquid U.S. stocks within the sector, as determined by the CBOE in consultation with Morgan Stanley. Volume in the indexes totaled 5,745 contracts during their first eight days of trading.