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FOR IMMEDIATE RELEASE


CBOE ANNOUNCES OEX WEEKLYS; SHORT TERM OPTIONS BASED ON S&P 100 INDEX WILL LAUNCH FRIDAY, OCTOBER 28, 2005

CHICAGO, October 6, 2005 - The Chicago Board Options Exchange (CBOE) announced it will launch WeeklysSM options on the Standard & Poor's 100 Index (OEX) in addition to Weeklys based on the S&P 500 Index (SPX), on Friday, October 28, 2005. Weeklys options were created by CBOE to provide investors with an efficient means to trade options specifically around certain news or events-- such as economic data announcements. CBOE's one-week options will be listed on a Friday and expire the following Friday, as opposed to traditional options which have a life of months or years.

The first SPX and OEX Weeklys contracts will open on Friday, October 28 and expire the following Friday, November 4th. In general, Weeklys will have the same contract specifications as standard options, except for the time to expiration.New series will be listed each Friday, expiring the following Friday, except that no Weeklys will be listed that would expire during the expiration week for standard options (the third Friday of each month). Initially, no more than five strike prices will be listed per class, per expiration (two in-, one at-, and two out-of-the-money strike prices), and no new series will be added between listing and expiration. CBOE plans to list several more Weeklys contracts soon.

Both SPX and OEX Weeklys will be cash-settled contracts and will offer the same continuous, two-sided quotes as standard options. SPX Weeklys will be European-style exercise with A.M. settlement, and OEX Weeklys will be American-style exercise with P.M. settlement. There are no position or exercise limits; however, reporting requirements apply. For more information on SPX and OEX Weeklys, go to http://www.cboe.com/Weeklys.



CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the SEC. For additional information about the CBOE and its products, access the CBOE website at: http://www.cboe.com/
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