Options Industry Council

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The Options Industry Council
OIC blue.jpg
Founded 1992
Headquarters 125 South Franklin Street, Suite 1200, Chicago, IL 60606

OIC headquarters map in Chicago

Products Options education
Key People Mary Savoie, Executive Director
Twitter @Options_Edu
youtube OptionsEdu
facebook OptionsIndustryCouncil
LinkedIn Profile
Web site www.optionseducation.org/

The Options Industry Council (OIC) is an industry resource funded and managed by Options Clearing Corporation (OCC), the world’s largest equity derivatives clearing organization, to provide education to investors and advisors about the benefits and risks of using exchange-listed options to gain market exposure, generate income and manage risk. Formed in 1992, OIC is supported by Box Options Exchange LLC, Cboe Global Markets, Inc., Miami International Securities Exchange, LLC, Nasdaq, Inc., The New York Stock Exchange, and OCC. These organizations' stated goal is to provide a financially sound and efficient marketplace where investors can hedge investment risk and find new opportunities for profiting from market participation.

OIC hosts free options webinars, videos, podcasts and live events, distributes educational literature and maintains an educational website. [1] OIC also offers live individual assistance from knowledgeable options professionals.

History

By the early '90s, the listed options market had grown from trading calls on 16 underlying stocks in the old smoker’s lounge at the Chicago Board of Trade (the first location of the CBOE), to an industry of multiple exchanges that allowed for the trading of puts, options with longer term expiries and options on indexes. The industry recognized that to facilitate continued growth of a complex financial instrument like options, it needed to create an institution focused on education.

In 1992, the OCC, American Stock Exchange (AMEX), Chicago Board Options Exchange (CBOE), New York Stock Exchange (NYSE), Pacific Stock Exchange (PSE) and Philadelphia Stock Exchange (PHLX) formed the OIC.

By 1993, OIC had expanded its reach to 50 North American cities and more than 3,000 investors and brokers attend its seminars. Its first website was created in 1996. OIC furthered its reach by offering on-demand webinars and podcasts in 2006.

The year the OIC was created, OCC reported annual volume of 201,995,757 contracts. In 2017, the annual volume exceeded 4.3 billion contracts.[2] The continued growth of the industry and the designation of OCC as a systemically important financial market utility (SIFMU), in 2012, have pushed OIC to the expand its educational efforts to an increasing number of investors.

In 2017, OIC celebrated its 25th anniversary as a worldwide resource for options education.

Options Education Program

OIC offers its Options Education Program (OEP) for free. The OEP aims to provide education on the responsible use of options to a global audience of investors. The program has four main educational goals: customized education, comprehensive courses, in-person learning and live options help. OEP offers the MyPath assessment tool, which allows investors to test their level of options knowledge for a personalized learning track. Later on users can advance through a customized curriculum filled with online courses, podcasts, webinars and videos ranging from basic to advanced options topics. Students of the program can also learn about options in-person by attending live seminars and events presented by experienced options instructors.[3] A video overview of the OEP can be found here

Seminars

Seminars focusing on basic, intermediate, and advanced options topics such as volatility are offered at select locations across the U.S. Additional intermediate and volatility seminars have been added for investors seeking advanced education.[4] For those who are not able to make the physical seminars, there are additional webinars that can be accessed worldwide.

Online Classes

OIC offers online classes for all skill levels on subjects including the basics of options trade, pricing and strategies.[5] Access the OIC's course catalog here.

Educational Videos

OIC offers dozens of videos accessible at the viewers' convenience.[6] The company also provides a glossary and quick concepts Youtube series to further educate current and potential options traders. The OIC's Youtube channel can be found here.

Podcasts/Radio Show

OIC offers educational podcasts covering a wide variety of topics, from options basics and terminology to more advanced concepts. These podcast can be found here or in iTunes.

OIC's Wide World of Options radio show features a dynamic mix of current events, investor resources, strategy insights and interviews with a variety of options professionals throughout the industry. Past episodes can be found here.

Investor Services

OIC's Investor Services is available for options-related questions that do not focus on trading/investing advice but rather on options education. The company can be contacted via e-mail at: options@theocc.com.

Options Calculators

Among the OIC's tools for investors are a number of calculators: a theoretical options calculator (personalize an underlying instrument and see how much the option would cost), a collar calculator (for determining hypothetical outcomes of a given collar strategy), covered call calculator (same as the collar calculator but for a different strategy) and a position simulator (using sample data see the effects of varying strategies in a simulated market).

Volatility Archives

The OIC's website offers a repository of historical and implied volatility for a range of indexes and stocks.

Senior Executives

Roundtable

OIC's Roundtable is the independent governing body of the Council and is comprised of representatives from the U.S. options exchanges, member brokerage firms and OCC.

  • John Black, Product Development Specialist, Nasdaq
  • Jeff Chiappetta, Vice President of Client Experience and Education, Charles Schwab
  • Gary Franklin, Vice President, Manager Options Trading & Strategies at Raymond James Financial
  • Thomas Kennelly, Lead-Trading Operations, MIAX Options
  • Christopher Larkin, Senior Vice President of Trading, E*TRADE
  • Frank A. Magnani, Global Prime Brokerage Institutional Sales, Interactive Brokers
  • Patty Schuler, Vice President, Sales & Marketing, BOX Options Exchange

OIC Instructor

  • Mark Benzaquen, Manager of Investor Services, Options Industry Council
  • Dan Carrigan, President, Nasdaq Futures, Inc. (NFX), the US Futures Exchange of Nasdaq, Inc.
  • Jermal Chandler, Instructor, Cboe Options Institute
  • Kevin Davitt, Senior Instructor, Cboe Options Institute
  • Bill Ryan, Senior Investor Services Specialist, Options Industry Council

Instructors

John Lothian News Interviews

References

  1. About The Options Industry Council. Options Industry Council.
  2. OCC Historical Volume Query. OCC.
  3. OIC Introduces the Industry's Premiere Options Education Program. OIC.
  4. Seminars And Events Registration. OIC.
  5. Online Classes. OIC.
  6. OIC Audio & Video Podcasting. OIC.