CBOE Continues To Shatter Volume Records, Market Share Continues To Increase

The Chicago Board Options Exchange (CBOE) announced on November 2 that total option volume during the month of October set a new record. A total of 25,716,989 option contracts (15,688,078 calls, 10,028,911 puts) traded during the month of October at CBOE, surpassing the previous monthly record of 22,117,963 contracts set in September, 1999. Volume year-to-date is also at record levels. Year-to-date option volume reached a record high of 199,314,638 contracts (125,118,442 calls, 74,196,196 puts). Total average daily volume for October reached a record 1,224,619 contracts, up nearly 38% over year ago levels, and well ahead of the record setting pace for average daily volume of 953,659 contracts. CBOE also established a new month's end record for open interest at the close of October, when total open interest stood at 37,396,223 contracts up 86% from year ago levels. The previous high at month's end was posted at the close of last month when total open interest stood at 34,698,015 contracts. Once again a new monthly record was also set for stock option volume at the CBOE in October. A total of 20,416,067 contracts (13,548,030 calls and 6,868,037 puts) changed hands, beating the previous monthly record of 16,962,367 contracts set in September of 1999. Year-to-date volume in stock options was a record, with 151,872,886 contracts trading so far this year. At the close of the month, open interest in stock options stood at a record high 32,922,531 contracts, an increase of 110% over the level at the close of October 1998. The CBOE continues to grow equity market share through the use of trading technology and aggressive competition. Currently the Exchange holds a 51% share of U.S. options volume. The CBOE's market share for equity options has increased to 46%, a 4% increase over October 1998, and the Exchange has enjoyed a gain in average daily contracts of more than 142,461 contracts per day since August. Dell and Microsoft options which CBOE listed in August, are now ranked third and seventh respectively in total equity volume at the CBOE, with the Exchange capturing market share of 56% for Dell and 23% for Microsoft. Total index option volume for October at CBOE was 5,294,742 contracts (2,137,775 calls, 3,156,967 puts). Average daily volume was 252,131 off nearly 12% from year ago levels, however up 3% from the previous month. Open interest for all CBOE indexes stood at 4,462,756 contracts. Trading volume for the month of October in the S&P 500® Index options (SPX) was 2,294,573 contracts (942,586 calls and 1,351,987 puts). Open interest in SPX options stood at 2,322,821 contracts at the end of October. Volume on the CBOE Internet Index (INX) continued to be strong with total volume reaching 2,884 contracts and open interest of 1,848. In addition, the GSTI Internet Index (GIN) volume reached 3,338 contracts with open interest of 1,478. 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, visit the new CBOE web site at http://www.cboe.com.