Additionally, a new record was set for the highest volume day on January 15, when 2,639,749 contracts exchanged hands. This exceeded the highest previous daily total set last October 16 by 287,432 contracts. Average daily volume for the month was 1,831,842 contracts. Open interest, or the total number of options contracts not yet exercised or allowed to expire, reached 37,438,110 at its highest point on January 15.
Open interest is one indication of longer-term investing in equity options.
The OIC, which includes the American Stock Exchange, Chicago Board Options Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation, has an extensive educational program. A print and broadcast advertising campaign has resulted in more than 225,000 inquiries seeking literature and videotapes.