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Why add options to your practice?
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The Options Education Program
Chapter 1: Introduction to Options
Chapter 2: Options Core Concepts
Chapter 3: LEAPS® and Outright Positions
Chapter 4: Strategy Development
Chapter 5: Simple Spreads and Verticals
Chapter 6: Greeks and Volatility
Chapter 7: Advanced Positions
Getting Started with Options
What is an Option?
Leverage & Risk
What are the Benefits & Risks?
LEAPS® - Options for the Long Term
How LEAPS® Work
Availability of LEAPS®
Time Erosion vs. Delta Effect
Choosing the right strategy
Implied Volatility Increase
Implied Volatility Decrease
Sharp Move Up or Down
Buying Index Calls & Puts
Equity vs. Index Options
Understanding Option Greeks
Putting It All Together
Volatility & the Greeks
Options Quotes & Calculators
Today's Most Active Options
Historical and Implied Volatility
Options Strategy Builders
Covered Call Calculator
2020 Expiration Calendar
Options Product Specifications
Brochures & Literature
About The Options Industry Council
About the OIC
Feedback & Contact
In October, OIC shares the results of the study “Analysis on Structured Products and Listed Equity Options in Europe: An Industry Overview and Future Prospects,” conducted by Structured Retail Products (SRP).
OIC releases results of the study, "The Performance of Options-Based Investment Strategies: Evidence for Individual Stocks During 2003-2013" in May.
Also in May, OIC releases a study on investors conducted by Harris Poll.
At the beginning of January, OIC introduced its new options education initiative, the Options Education Program (OEP), which brings together OIC’s full range of educational offerings and network of leading industry professionals to offer investors the best educational platform possible to learn about options.
OIC launched its new mobile application for iOS devices on January 15 allowing investors access to options education on the go.
In March, Blair Hull was announced as the recipient of the 2014 Joseph W. Sullivan Options Industry Achievement Award presented at the 32nd Annual Options Industry Conference in Austin, TX.
A the end of March, OIC announced the results of the European TABB Study, "Shifting Demand in a Changing Market Landscape," which found European investors continue to be interested in using U.S. options while becoming more sophisticated, shown by an expansion in the use of directional and volatility strategies.
The China Futures Association and OIC sign an MOU regarding options education in China on April 16.
On April 30, OIC and Saxo Bank signed a content sharing agreement and announced an options education roadshow.
In May, OIC signed a content sharing agreement with The Shanghai Stock Exchange, marking the first time a content licensing agreement for OIC has been executed with a financial institution in mainland China.
On February 11, The MIAX Options Exchange joined OIC.
It was announced that Meyer "Sandy" Frucher would be the recipient of the Joseph W. Sullivan Options Industry Achievement Award at the Annual Options Industry Conference taking place in April in Las Vegas.
OIC announced a new internet radio show, OIC's Wide World of Options, airing as a reoccurring series on the Options Insider Radio Network starting June 4.
In July, The Taipei Foundation of Finance and OIC signed a content licensing agreement.
OIC presented the results of the study, "European Interest in U.S. Options: Factors Driving Renewed Demand," conducted by TABB Group which showed a sustained interest in the use of U.S. options by European investors driven by factors including the depth of liquidity, strength and accessibility of U.S. options markets in the current regulatory climate on September 26.
Total options trading volume for 2013 stood at 4,111,275,659 contracts, an increase of 2.68 compared to 2012, marking the third consecutive year annual volume was more than 4 billion contracts and 2013 as the second highest volume year on record.
In February, Edward J. Joyce was announced as the 2012 recipient of the Joseph W. Sullivan Options Industry Achievement Award being presented at the Annual Options Industry Conference in Las Vegas in May.
OIC launched its redesigned website, www.OptionsEducation.org, on April 2.
On May 3, OIC announced the findings from the study, Option-Based Risk Management in a Multi-Asset World, which showed the collar strategy improves performance and reduces risk.
At the end of June, OIC and the Chartered Institute for Securities & Investment (CISI) signed a content sharing agreement.
October 19, 2012
On October 19 in Shanghai, members from The Shanghai Association For International Exchange Of Personnel (SAIEP) and OIC signed an MOU regarding options education in Shanghai.
Representatives from The Shenzhen Stock Exchange and OIC signed an MOU regarding joint options research and education in Shenzhen, China on October 23.
Total options trading volume for the year was 4,003,871,308 contracts, off last year's record year by 12.25 and marking the second time annual volume was over 4 billion contracts.
On May 12, OIC released the results of the Financial Advisor Benchmark Study conducted by Bellomy Research. The study found that options usage among advisors is on the rise and advisors who use options tend to have more assets under management than non-users.
In June, Mary Savoie succeeds Susan Milligan as OIC Executive Director.
OIC names Alan Grigoletto as Director of Education on June 21 as part of its expanding effort to educate retail investors, their financial advisors and institutional investors.
On August 8, 41,535,580 contracts were traded, establishing a new daily volume record and marking the first time over 40 million contracts were traded in one day.
August saw 4 of the top 10 highest volume days for both total options and equity options.
A new monthly record volume was achieved in August with 550,049,407 contracts changing hands This total represents the first time in history that monthly volume has surpassed half a billion contracts.
On September 6, OIC presented the results of the study, European Demand for U.S. Listed Equity Options, conducted by TABB which found that 10% of U.S. listed options volume originates from Europe today and that this amount is likely to increase due to global regulatory efforts to reduce risk.
OIC changed the name of its popular Call Center, also commonly referred to as the Help Desk, to Investor Services in September.
On September 14, OIC presented the results and analysis on the performance of a buy-write strategy on the Russell 2000®. The study found that over the 15-year period covered in the study (including the periods before, during and after the credit crisis), the buy-write strategy provided a higher return than a long RUT portfolio while reducing risk by almost 17%.
Total annual options volume surpassed 4 billion contracts for the first time in history on November 9.
Total options trading volume for 2011 came in at 4,562,748,194 contracts, surpassing last year’s record by 17%.
On February 24, the Diamond Group Ltd. released the results of their Financial Advisor Engagement Study. The study showed advisors inclined to use options were more knowledgeable about different investment products and had more assets under management than those disinclined to use options.
BATS Options Exchange joined OIC in March.
On April 29, OIC released the results of a study conducted by Harris Interactive Inc. which suggested that investors using options are more educated and affluent than investors that didn’t use options. According to the study, option users also tended to be more strategic investors that were open to new ideas.
On April 30, OIC announced its partnership with Financial Technologies Group to offer options education in India.
Options trading volume for 2010 came in at 3,899,068,670 contracts, surpassing 2009’s record year by nearly 8%.
In January, OIC signed content licensing agreements with both the Tokyo Stock Exchange and NASDAQ Dubai to develop options education programs in those regions.
In March, OIC added Joe Burgoyne as the new Director of Institutional and Retail Marketing and Gary Delany as Director of European Marketing and Education.
On April 7, OIC announced the launch of a dedicated financial advisor web portal and the addition of Eric Cott as Director of Financial Advisor Education.
On September 23, OIC announced a new study that found the use of options in a collar strategy on the PowerShares QQQ™ ETF provided superior returns to the traditional buy-and-hold strategy while reducing risk by almost 65%.
On October 8, OIC and Rutgers University announced a unique partnership to launch a new options education program that will offer continuing education credits for financial advisors.
A new annual volume record was set in 2009 with a total of 3,612,637,118 contracts trading, surpassing 2008's record by almost 1%.
In February, OIC announced an updated spring schedule of live seminars covering basic and intermediate options essentials for investors and financial advisors.
OIC experienced record registration and attendance at seminars.
In April, the Montreal Exchange and OIC teamed up to offer options education to Canadian investors beginning with live seminars.
On May 1, OIC announced the findings of the University of Massachusetts Collar Strategy Study. The study showed that the returns of passive collar strategy on the PowerShares QQQ ™ ETF provided greater returns than buying and holding the NASDAQ-100 Index ETF.
NASDAQ Options Market joined OIC in May.
In September, the Thailand Futures Exchange and OIC announced an agreement to educate Thai investors via information sharing and co-branding of OIC’s materials.
Total annual options volume surpassed 3 billion contracts for the first time in history on October 20.
In November, the Warsaw Stock Exchange and OIC entered into a licensing agreement to develop an educational program aimed at Polish investors.
A new annual volume record was set in 2008 with a total of 3,582,572,581 contracts trading, surpassing 2007’s record by 25%.
In January, Susan Milligan succeeds Michael Walinskas as OIC Executive Director.
OIC launched www.OICoptions.com, the new home for options information and education geared to institutional investors.
OIC enhanced classroom education by offering options classes from basic to advanced levels.
OIC celebrated 15 years of options education and co-hosted an equity options conference with FIA in New York.
Total options trading volume for the year surpassed 2 billion contracts for just the second time in history on September 26.
December saw a new annual volume record with a total of 2,862,826,218 contracts changing hands, surpassing 2006’s record by 41%.
OIC enjoys a successful launch of new educational offerings releasing on-demand webcasts, podcasts and an interactive DVD.
The results of OIC’s European User Study, conducted by Capco, were released on September 20. Results showed that 15%-20% of exchange-traded options volume originated from Europe.
OIC's governing committee is restructured to include representatives from securities firms that are active options market participants.
On December 22, total options contracts surpassed 2 billion contracts for the first time ever in a single trading year. The year concludes with 2,027,847,586 total options contracts traded, setting a new annual volume record.
In April, OIC conducted a five-city fund managers educational road show in Europe. The cities were Amsterdam, London, Milan, Frankfurt and Zurich.
In April, Michael Walinskas succeeds Gina McFadden as OIC Executive Director.
The results of a Harris Interactive Study were released on April 25, providing an extensive profile of options investors while comparing them to investors who do not use options.
On October 4, OIC launched a redesigned website, www.OptionsEducation.org. The site featured new interactive options learning tools, improved usability and design, up-to-date web technologies and a new navigation scheme.
Total trading volume set a new annual record of 1,504,311,540 contracts, surpassing 2004’s previous record by an increase of 27.3%.
OIC, in collaboration with Lightbulb Press, launched the new options book, "An Investor's Guide to Trading Options" in February.
On May 3, Paul Stevens, OIC President, received the third annual Joseph P. Sullivan Options Industry Achievement Award on behalf of the entire options industry at the 22nd Annual Options Industry Conference.
In August, the Boston Options Exchange (BOX) becomes a member of OIC.
In December, equity options volume hit 1 billion contracts for the first time. The year concluded with total equity options volume reaching 1,083,649,226 contracts, exceeding the 830,308,227 total equity options volume contracts traded in 2003 by 30%.
At year end, Paul Stevens retired as OIC President. He is replaced by George S. Hender, who also serves as Member Vice Chairman to OCC.
OIC introduced Options University (OU), its latest free educational offering. OU was a comprehensive educational mini-site that offered a variety of online options classes, strategy tools and other educational resources.
In October, OIC launched an advanced class to its live seminar curriculum, "Advanced Options for the Real World."
OIC participated in a new live options seminar series, "Options for the Thinking Investor" with the Singapore-based group Marketwise.
Total equity options volume reached 830,308,227 contracts, setting a new annual volume record. This surpassed the previous record set of 722,680,249 contracts in 2001.
OIC introduced the Options Investigator™, an interactive educational CD that offers 400 educational tutorials with 40 interactive strategies.
OIC introduced the new online class, "Covered Calls." The class defined covered calls, explained the benefits of the covered call strategy, demonstrated how the covered call strategy works and outlined speculative vs. defensive covered-call writing.
In March, OIC and Australian Stock Exchange participated in an educational road show in Australia.
Equity option open interest reached the 100 million mark for the first time in October.
OIC and the Australian Stock Exchange (ASX) announced in April that they formed an alliance to share educational resources and options industry research.
OIC conducted road shows in Hong Kong and Singapore.
The markets closed for four days in September in response to the events of September 11.
On Dec. 5, total equity options reached another milestone with volume reaching 673,574,100 contracts. This new high represents the tenth consecutive record year.
OIC establishes a call center in July at 1-888-OPTIONS for individual investors and brokers.
OIC launched a new website, www.888options.com. The site featured options tools, seminar registration, pricing calculators, extensive trading data, opportunity to subscribe to email alerts, and an "Options Store." Together with the call center, the resource is named Options Industry Services.
OIC debuted online classes on www.888options.com.
OIC translated select OIC educational brochures to Spanish and Chinese in direct response to marketplace needs.
The International Securities Exchange joins OIC in September.
OIC introduced a LEAPS® curriculum with a new seminar and videotape.
OIC implemented several enhancements to www.optionscentral.com, making online educational resources more accessible. The site allowed investors to register online for seminars, download the interactive software package "The Options Toolbox," order instructional videotapes and gather options strategies.
instructional videotapes and gather options strategies.
OIC conducted a sophisticated database analysis to build an investor profile that will assist in reaching the active investor of the next century.
OIC's London office builds a European presence through a series of educational efforts that target audiences in Switzerland and Germany.
OIC participated in several new options forums and supported a Congressional aides educational program in Washington, D.C.
OIC promoted awareness and education among institutional fund managers.
OIC unveiled a new $1.8 million national advertising campaign.
OIC produced a new television and print media campaign.
OIC enhanced its website.
OIC expanded its broker outreach program by offering broker information booths at most of its educational seminars. Seminar attendees were also eligible to receive a free copy of the CD tutorial,
The Options Toolbox."
OIC opened a London office to further develop relations with international investors and increase overseas options trading in the U.S. markets by educating financial institutions on the benefits of equity and index options.
With the repeal of the "short-short" rule, OIC created an educational program that reintroduces portfolio managers to the benefits of options.
OIC reached a new one-day high in equity trading volume with 1,661,797 contracts. The previous volume record had been set on October 16, 1987.
OIC launched its website, www.optionscentral.com, in April. It is the first to be developed by a consortium of exchanges.
OIC offered a new advanced strategies video and practical applications workshop.
OIC commissioned a comprehensive study of options users by Yankelovich Partners. The study determined that today's options investors were more affluent and knowledgeable than ever before. It also found that these individuals have higher levels of product knowledge, income and investments, and have a higher net worth than their peers.
Total equity options volume reached 174.4 million contracts, surpassing the previous record set in 1987 by 6%.
OIC added an advanced strategy session to its seminar schedule.
Equity options volume increased by 30% since OIC's inception, and equity open interest had set records during the previous two years.
OIC publishes the inaugural edition of its newsletter, "The Blueprint".
OIC received media coverage in publications and television programs such as The Wall Street Journal, Newsweek, Business Week, Nightly Business Report and USA Today.
CNBC aired a 30-minute segment on options in November that included an interview with Paul Stevens, President of OIC.
A nationwide series of seminars providing basic options education for investors commenced early in the year and extended to 27 cities.
OIC introduced intermediate seminars to its educational program and expanded its reach to more than 50 cities across North America. More than 3,300 investors and brokers attended these seminars.
Options volume increased nearly 20% more than the previous year.
The Options Industry Council is formed by OCC, the American Stock Exchange (AMEX), Chicago Board Options Exchange (CBOE), New York Stock Exchange (NYSE), Pacific Stock Exchange (PSE) and Philadelphia Stock Exchange (PHLX). OIC's mission was to increase individual investor awareness and understanding of stock options.
On September 30, OIC formally introduced itself to the options world with a special celebration in New York.
OIC launches a three-year, $6 million campaign promoting the "The Options Tool" to reintroduce listed stock options to the public. The campaign includes television and print ads and the production and distribution of a 20-minute educational videotape. In the first three months, over 30,000 investors and brokers respond to the ads by calling a toll free number to receive the videotape and other educational materials.
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About the OIC