Options Industry Council

The Options Industry Council (OIC), was formed in 1992 by the major American option exchanges and The Options Clearing Corporation (OCC), and serves as the industry resource for equity options education.

Participating Members of OIC

  • The American STOCK Exchange
  • Boston Options Exchange
  • Chicago Board Options Exchange
  • International Securities Exchange
  • NYSE Arca
  • Philadelphia Stock Exchange
  • The Options Clearing Corporation

OIC Leadership

Gina McFadden - Ms. McFadden serves as the President of OIC.

Susan Milligan - Ms. Milligan serves as Executive Director of OIC and Senior Vice President of Government Relations and Communication for the Options Clearing Corporation.

Why was OIC formed?

OIC was formed as a unified industry effort to educate investors AbOUT equity options. Without the proper education and information about this useful, but complex product, investors May Be at risk. OIC resources provide in-depth education and insight so that investors are well informed of the risks and rewards associated with the options tool.

OIC Educational Programs

"An Investor's Guide to Trading Options"

  • Written in collaboration with Lightbulb Press, this 64-page book explains what options are and how they work, provides real-world investing scenarios and describes options strategies for various markets. This guide is designed for investors who trade equities but have not added options to their portfolios, those investors who trade occasionally and for brokers who want to demystify options for their clients or colleagues.

Seminars

  • Investor Seminars – Nearly 90 evening investor seminars are held in the United States and Canada every year. Seminars include Basic ("Options Strategies for the Stock Investor"), Advanced (“Advanced Options for Experienced Investors”), Covered Calls (“Practical Uses of Covered Calls”) and Spreads (“Understanding and Trading Options Spread Strategies”).

Websites

http://www.optionseducation.org highlights balanced options education for retail investors of all backgrounds and skill levels, and offers educational tools such as:

  • Interactive online classes
  • Options pricing calculators
  • Position Simulator
  • Options Quiz (tests visitors’ knowledge of options)
  • Extensive trading data
  • Registration for free options seminars
  • Access to OIC software and brochures
  • A glossary of options terms
  • Options trading strategies
  • Commonly asked questions and answers
  • Expiration calendars
  • Press releases
  • 20-minute delayed equity options and stock quotes
  • Mini Simplified Chinese website

http://www.optionseducation.org/institutional offers options education geared towards institutional investors. The Web site has been structured to give these investors comprehensive options information in various forms including:

  • Daily and weekly options news articles from Barron’s “The Striking Price”
  • Research articles and white papers
  • Interactive tools such as the Position Simulator which allows investors to explore positions *using real market conditions
  • Online classes for all levels
  • real-time CBOE VIX Index, ISE Sentiment Index, and other market information provided by http://www.IVolatility.com.

On-Demand Webcasts and Podcasts

As part of an initiative to provide more web-based education, on-demand webcasts and video and audio podcasts were introduced in 2006.

The webcasts are taught by the same options exchange instructors who host OIC’s live seminars, are typically one hour in length and offer a variety of topics for various investor skill levels. The on-demand function allows visitors to learn at their convenience and at their own pace. Webcast topics include ETFs, covered call writing, options basics, volatility strategies and LEAPS®, among others.

OIC podcasts allow visitors to download and watch recorded footage from a live OIC seminar on their MP3 player, iPod, smart phone, or computer. Each podcast follows the format of OIC’s Basic options seminar and lasts from eight to 18 minutes. Hosted by OIC instructor Dan Passarelli of the Chicago Board Options Exchange, the podcast topics include essential concepts, buying calls, buying puts, covered calls, terminology and mechanics, options pricing and LEAPS®.

Interactive Educational Software

The Options Investigator™ is an interactive software package that helps current and potential investors simulate options strategies. This CD is for option investors of all levels and presents 400 tutorials and over 40 options strategies.

Interactive Educational DVD, "It’s Good to Have Options"

It’s Good to Have Options is a free interactive DVD that introduces investors to exchanged-listed options. Hosted by personal finance columnist and registered investment advisor Terry Savage, It’s Good to Have Options is a great tool for beginner options investors. Ms. Savage walks investors through the basics of options – what they are, ways to use them and their benefits and risks. The DVD follows a talk show format in which Ms. Savage leads a panel discussion among options professionals and fields questions from the studio audience. The hour-long video commences with an interactive quiz that tests viewers on topics covered during the video and a tutorial for the Options Investigator.

Newsletter

Options Central is distributed quarterly online and provides the latest information on new options issues, strategies and common terms.

Educational Brochures

"Characteristics and Risks of Standardized Options,” "Directory of Exchange Listed Options (in xls format), “The Equity Options Strategy Guide,” ” Long–Term Equity AnticiPation Securities®” (LEAPS® is also available in Mandarin Chinese and Spanish), “Taxes & Investing,” “Understanding Index Options” and "Understanding Stock Options (available in Mandarin Chinese and Spanish) are all educational references OIC makes available.

Expiration Calendars

Published yearly, this calendar highlights expiration dates for equity, index and interest rate products, currency options, expiration month and strike price codes, and Exchange holidays.

Options Investor Services

Options Investor Services is a comprehensive options information center that provides information and supports all products traded on all OCC Participant Exchanges. The Options Help Desk is a major element to this program and is a popular resource for investors. Staffed by options professionals, The Options Help Desk is for retail investors and brokers interested in receiving one-on-one information about equity options and OIC.

Additional functions of Options Investor Services include:

  • Fulfilling requests for OIC, OCC and Exchange-specific materials which include free videos, interactive educational software and brochures. The center has information about any product OCC clears.
  • Taking registrations for OIC-sponsored seminars.
  • Answering basic options-related questions using industry terms, product specifications and discussions about basic risks and rewards associated with options.
  • Responding to more complex strategic and operational questions for specific options trades and strategies.