Archived CBOE, CBSX, & CFE Press Releases

FOR IMMEDIATE RELEASE


CBOE TO LIST QUARTERLY INDEX OPTIONS ON SPX, XSP and XEO BEGINNING FEBRUARY 21st


CHICAGO, February 7, 2007 - The Chicago Board Options Exchange (CBOE) today announced plans to launch Quarterly Standard & Poor's 500 Index (SPX) options, Quarterly Mini-SPX Index (XSP) options and Quarterly Standard & Poor's 100 Index with European-style exercise (XEO) options beginning Wednesday, February 21, 2007.

Quarterly options, first launched by CBOE in July 2006, provide investors with options that expire on the last trading day of each quarter to coincide with end-of-quarter accounting practices. By comparison, traditional options generally expire on the Saturday following the third Friday of the month. Quarterly options have become especially popular with money managers who rebalance or settle portfolios on the last day of each quarter, and who use options as part of their portfolio management strategy.

CBOE currently lists Quarterly options on five Exchange-Traded Funds (ETFs): iShares Russell 2000 Index Fund (IWM), Nasdaq-100 Index Tracking Stock (QQQQ), Standard & Poor's Depositary Receipts/SPDRs (SPY), DIAMONDS Trust, Series 1 (DIA), and Energy Select SPDR (XLE). Volume and customer interest in Quarterly options has increased steadily, with total Quarterly volume traded at CBOE in January reaching 552,707 contracts.


CBOE Quarterly's
Volume
Total Volume
January '07
Total Volume
December '06
Average Daily Volume
January '07
Average Daily Volume
December '06
IWM
400,521
686,718
20,026
34,336
QQQ
54,377
126,255
2,719
6,313
SPY
68,334
398,475
3,417
19,924
DIA
25,164
30,143
1,258
1,507
XLE
4,311
11,604
216
580

Quarterly options are P.M.-settled contracts that generally will stop trading and expire on the last business day of March, June, September and December. Contract specifications, including expiration months, strike prices and settlement procedures can be found at http://www.cboe.com/Quarterly.

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

Contacts:
Lynne Howard-Reed
(312) 786-7123
howardl@cboe.com

Gary Compton
(312) 786-7612
comptong@cboe.com


CBOE®, Chicago Board Options Exchange®, OEX® and XEO® are registered trademarks of Chicago Board Options Exchange, Incorporated. SPXSM is a service mark of Chicago Board Options Exchange, Incorporated. Dow Jones®, DJIA®, and DIAMONDS® are registered trademarks of Dow Jones & Company, Inc. S&P® and SPDR are registered trademarks of the McGraw-Hill Companies, Inc. and are licensed for use by the Chicago Board Options Exchange, Incorporated pursuant to a License Agreement. The Russell 2000® Index is a registered trademark of The Frank Russell Company used under license. Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, and Nasdaq-100 Index Tracking StockSM are trademarks of The Nasdaq Stock Market, Inc. iShares is a service mark of Barclays Global Investors, N.A.