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OIC Kicks Off New Year with Winter Options Seminar Schedule

Chicago—January 12, 2004

The Options Industry Council (OIC) today announced its winter schedule of equity options seminars for investors and brokers. The seminar schedule includes intermediate, strategy-specific, and advanced seminars in select cities in the U.S. and Canada.

"In 2003, we saw our highest year of equity options volume which is partially attributable to more investors being educated about the product. OIC's live seminars, which continue to receive high marks from investors, serve as a vital learning tool for investors of all levels," said Paul Stevens, President, OIC.

OIC's seminars are taught in a classroom style format by experienced options exchange instructors. The seminars are held from 6-9 p.m.

Winter seminars will be held in the following cities from Jan. 13 through March 31: Arlington, VA, Atlanta, Boca Raton, Cambridge, Mass., Chicago, Cleveland, Dallas, Denver, Houston, Irvine, Calif., Long Island, Markham, Ontario, Minneapolis, Newport Beach, NY Midtown, Oak Brook, Ill., Orlando, Pasadena, Calif., Philadelphia, Pittsburgh, Pontiac, Mich., Portland, Ore., San Diego, San Jose and Tampa.

Seminar offerings include

Intermediate Seminar: Practical Strategy Applications - A follow-up to the basic seminar, which provides insight on managing an options portfolio, this workshop briefly reviews options basics, provides more in-depth instruction on pricing concepts, and explores volatility using educational software. More complicated strategies for the various market environments will also be discussed.

Covered Calls - This seminar will teach what stocks to look for, how to calculate returns and how to manage options positions. Attendees will also learn when to use the covered call strategy and how to create a disciplined approach to implementing it.

Trading Market Direction with Listed Options - This seminar introduces options strategies with limited risk for sharp market moves and teaches how to take advantage of options time decay in slow moving markets. The seminar also discusses how options prices change with fluctuations in underlying stock prices and as time to expiration diminishes. Strategies are presented with realistic expectations.

Advanced Options for the Real World (Taught in partnership with OptionVue) - For those investors who understand the language of options and simple spread trading strategies, this course covers the decision making variables that can affect investors' bottom line. Attendees will learn such topics as leveraging the statistical advantages in options trading; accurately predicting risk-to-reward ratios and probabilities of profit; understanding option modeling and the projecting of future theoretical option prices; and using volatility movement to your advantage.

Investors and brokers interested in attending the seminars can obtain a detailed schedule of the dates and locations, as well as register for the seminars, through OIC's Website.

About OIC

OIC is a non-profit association funded by the American Stock Exchange, Chicago Board Options Exchange, International Securities Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation. OIC's free resources include: The Options Industry Services call center at 1-888-OPTIONS, an educational Web site at, evening seminars throughout the continental United States and Canada, educational literature and software.

Editors note: Reporters are welcome to attend the seminars to learn more about equity options. To make arrangements please contact Debbie Baratz at 312-322-6267.

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