Options Industry Council

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The Options Industry Council
Image:OIC blue.jpg
Founded 1992
Headquarters Chicago
Products Options education
Key People Gina McFadden, President; Susan Milligan, Executive Director
Web site www.optionseducation.org/

The Options Industry Council (OIC) was formed in 1992.[1] Today, its sponsors include the Boston Options Exchange, the Chicago Board Options Exchange, the International Securities Exchange, NASDAQ OMX PHLX, NASDAQ Options Market, NYSE Amex Options, NYSE Arca Options, and The Options Clearing Corporation. These organizations have one goal in mind for the options investing public: to provide a financially sound and efficient marketplace where investors can hedge investment risk and find new opportunities for profiting from market participation. Education is one of many areas that assists in accomplishing that goal.

OIC was created to educate investors and their financial advisors about the benefits and risks of exchange-traded equity options. Options are a versatile but complex product, and that is why OIC conducts hundreds of seminars and webcasts throughout the year, distributes thousands of interactive DVDs and brochures, and maintains a Web site and help desk focused on options education.

Experienced options seminar instructors provide valuable insight on the challenges and successes that individual investors encounter when trading options.

Contents

Products and Services

OIC conducts hundreds of seminars and Webcasts throughout the year, distributes thousands of interactive CDs and brochures, and maintains a user-friendly Web site. Experienced instructors from the various options exchanges and OIC professionals provide insight on the challenges and successes that individual investors encounter when trading options. Options industry professionals create the content in OIC's software, brochures and a Web site. Appropriate compliance and legal staff ensure that all OIC-produced information includes a balance of the benefits and risks of options.

Seminars

Equity Options Seminar Schedule For Winter/Spring 2010 Seminars focusing on basic, intermediate, and advanced options topics such as volatility will be offered at select locations across the U.S. Additional intermediate and volatility seminars have been added for investors seeking advanced education.[2]

Online Classes

OIC offers online classes for all skill levels on subjects including the basics of options trade, pricing and strategies.[3]

Educational Webcasts

As of the beginning of 2008, OIC featured a dozen podcasts that were accessible at the viewers' convenience.[4]

Help Desk

The Options Help Desk is available for options-related questions that do not focus on trading/investing advice but rather on options education (1-888-OPTIONS or 1-888-678-4667), e-mail options@theocc.com; international callers use 312-463-6193.

Help Desk Hours

  • Open all trading days from 7:30 a.m. to 5 p.m. (Chicago Time).
  • Except: the Options Help Desk closes at 3:30 p.m. (Chicago time) every Monday for training purposes, but maintains regular hours on Mondays following expiration.

Virtual Trading System

In November of 2007, the OIC introduced the Virtual Trading System (VTS)[5] to its online educational offerings. The system is designed to provide investors with the most realistic trading environment possible as they practice executing various options strategies.

OIC’s VTS screens allow investors to experience a realistic trading situation for trading stocks and options, using strategies such as spreads, straddles and covered calls, while also investigating different order types like triggers and one-cancels-other. The system also offers stock and options quote detail screens where users can obtain quotes whenever they need to from any screen through the integrated quote window.

Annual OIC/FIA Conference

In 2006, OIC teamed with the Futures Industry Association, to host the first FIA/OIC New York Equity Options Conference in September. Aimed at both retail investors (to promote the responsible use of options) and industry leaders, the program was held again in 2007, 2008 and 2009.

Annual Options Industry Conference

  • The 28th Annual Options Industry Conference was held from April 29 to May 1, 2010, in Phoenix, Arizona. The annual Options Industry Conference is jointly sponsored by all the U.S. options exchanges. The conference is attended by representatives from all segments of the options business and is a major event for top level management and trading professionals to exchange ideas, strengthen relationships and forge new connections. The 2010 conference featured expanded panel discussions with updated content, additional keynote speakers and the largest exhibit space in OIC history. The 2011 conference will take place in Savannah, Georgia.

Senior Executives

History

OIC was formed in 1992. Today, its sponsors include the Boston Options Exchange, the Chicago Board Options Exchange, the International Securities Exchange, NASDAQ OMX PHLX, NASDAQ Options Market, NYSE Amex Options, NYSE Arca Options, and The Options Clearing Corporation.

To better reflect its long-term commitment to increasing the awareness, knowledge and responsible use of exchange-listed equity options among individual investors and their financial advisors, OIC renamed its website www.optionseducation.org in November 2007.

Options Volume Highlights

  • A total of 330,432,938 options contracts changed hands in October 2009. This represented a 12.1 percent decline compared to October 2008 where 375,934,882 contracts were traded. Total options volume was on pace for a record year despite this decline.
  • Total options trading volume in May 2009 came in at 314,799,038 options contracts, up 17.96 percent compared to May 2008 volume of 266,870,046 contracts.
  • The options industry turned 35 years old in 2008, in that time 19.5 billion contracts have traded. The last five years (2004-2008) account for 57 percent of that total (11+ billion contracts).
  • In 2008, 3.58 billion options contracts were traded, up 25 percent over the record volume set in 2007. This was the first time in history that options trading surpassed 3 billion contracts in one year.
  • The last 3 years (06-08) saw 8.47 billion contracts traded, more than the total contracts traded from 1973 through 2003 (8.33 billion).
  • Options premium amounted to $1.3 trillion in 2007, the first time it surpassed the trillion mark. In 2008, options premium amounted to more than $1.9 trillion.
  • Equity and ETF options contracts exercised in 2008 resulted in the trading of 43 billion shares worth $2.3 trillion.

News

2010

  • Beginning in February, investors looking to learn options on the go could download an e-Reader version of the options book An Investor’s Guide to Trading Options on OIC’s Web site.
  • On Feb. 24, results of the Financial Advisor Engagement Study, conducted by the Diamond Group Ltd. were released and found advisors inclined to use options to be more knowledgeable about different investment products with more assets under management than those disinclined.

Resources

References

  1. ↑ About The Options Industry Council. Options Industry Council. Retrieved on June 20, 2008.
  2. ↑ Seminars And Events Registration. OIC. Retrieved on December 2, 2009.
  3. ↑ Online Classes. OIC. Retrieved on December 2, 2009.
  4. ↑ OIC Audio & Video Podcasting. OIC. Retrieved on December 2, 2009.
  5. ↑ "The Options Industry Council Adds Virtual Trading to Its Portfolio of Educational Tools”. OIC. Retrieved on January 11, 2008.
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