- 2000: Volume 9, No. 5 One Stop Shopping For Options Information

With just one telephone number or the click of a mouse, individual traders and brokers can now access a central source to request options investment information and obtain answers to their options-related questions. This summer, The Options Clearing Corporation launched Options Industry Services, a comprehensive options resource center that provides information and support for products traded on the nation's options exchanges.

The information center is available to investors for free by calling 1-888-OPTIONS or by sending e-mail to options@theocc.com. Qualified representatives answer questions and process requests Monday through Thursday from 8 a.m. to 5 p.m. (CST) and Friday from 8 a.m. to 4 p.m., with extended hours to 5 p.m. on expiration Fridays.

The increased interest in options is driving the need to step up educational efforts even more, so that individual traders and investors make well-informed, wise decisions when using the options tool. A recent survey of investors conducted by Yankelovich Partners reveals that 51 percent of investors who don't trade options cite lack of information as the number one barrier. The center is designed to serve as a valuable resource for those investors.

The Options Industry Council is a non-profit organization supported by the nation's securities options exchanges, to provide investor education. According to OIC, trading in options has increased by 155 percent over the past five years and volume is running 50 percent ahead of last year, which was a record year for the industry. This dramatic increase in interest has sparked a need for a centralized information center for the novice to advanced investor.

Former options traders and industry professionals staff the Options Industry Services call center. All services provided through the center are free and include:

• fulfillment of requests for materials from The Options Industry Council including options videos, interactive educational software and brochures,
• registrations for OIC's educational seminars,
• answers to basic and advanced options-related inquiries about industry terms, product specifications, and risks and rewards associated with options, as well as strategy and operational questions, and
• information and specifications on products traded on The Chicago Board Options Exchange, The International Securities Exchange, The Pacific Exchange and The Philadelphia Stock Exchange,

In addition to phone inquiries, the center will encourage individuals to use OIC's Web site as an added resource for options education. In September, the OIC is launching a new Web site at www.888options.com. The call center will complement this site, which will also provide the ability to register for OIC classes, provides on-line classes and other educational features.

Traders concerned about getting a "sales pitch" if they call, e-mail or visit the Web site, need not worry, since it is focused on education. Options Industry Services does not solicit securities or provide investment advice, rather they want to motivate investors at all levels, from novice to advanced, to look at the advantages of investing in the options market.

Paul Stevens is the president of the The Options Industry Council and The Options Clearing Corporation. If individuals are interested in more information about trading options, their best source of information is the Options Industry Services call center at 1-888-options or www.optionscentral.com.