The February 1998 figure was 22,927,216. Average daily volume for the month was 1,418,708 contracts. Open interest, or the total number of options contracts not yet exercised or allowed to expire, reached 33,298,486 at its highest point on February 19.
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.