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RE: OPTN Expiration Week



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VIX actually upticked with Friday's Rally.  Ending the week in the low 19%
area.  Volume continues at almost record levels.  So renewed interest in
index options, but most of the activity continues in Equity options.   We
traded over 1.2 Million contracts at CBOE on Friday.  Open interest was
almost 20 million at CBOE as of COB Thursday.....  If the number holds for
Monday I will be somewhat surprised as I would have thought with the rally
some of the "insurance" out there would NOT be renewed.

CBOE celebrates it's 25 with a gala the weekend of April 25th......actually
begins with an all day symposium on the 24th followed by dinner on the
24th.  Then a "Black - Tie" celebration on Saturday.