December 08, 2003 - December 12, 2003

ISE SENTIMENT INDEX (ISEE) FOR   12/01/2003 - 12/05/2003
 Date Index
12/5/2003 253
12/4/2003 201
12/3/2003 214
12/2/2003 243
12/1/2003 156

ECONOMIC EVENTS
Release Date Release Time Indicator Period
12-08-03 none
12-09-0310:00
Wholesale Inventories
Oct.
12-10-03 none
12-11-038:30
8:30
8:30
8:30
8:30
8:30
2:00
Business Inventories
Retail Sales
Retail Sales - Excluding Automotives
Export Prices
Import Prices
Initial Jobless Claims
FOMC Minutes
Oct.
Nov.
Nov.
Nov.
Nov.
Latest week.

12-12-038:30
8:30
8:30
Producer Price Index (PPI)
PPI (Excluding food and energy)
U.S. Trade Balance
Nov.
Nov.
Oct.

EXPECTED EARNINGS ANNOUNCEMENTS
Date Symbol
12/8/2003HOV
12/9/2003AZO
12/9/2003COST
12/9/2003KR
12/11/2003CIEN
12/11/2003ADBE
12/11/2003VRTY
12/12/2003ADIC

MAJOR MARKET EVENTS
Date Event
12/9/2003 Federal Open Market Committee (FOMC) Meeting.
12/18/2003 Last day for trading European style index options that expire in December.
12/19/2003 Last day for trading American style index and equity options expiring in December.

MARKET BENCHMARKS
Benchmark Symbol Level 21-dma 50-dma 200-dma
Dow Jones Industrial Average INDU 9,862.68 9,780.18 9,711.37 9,036.69
S&P; 500 Index SPX 1,061.50 1,053.20 1,043.46 971.23
S&P; 500 Index Futures SP/3Z 1,062.20 1,052.39 1,042.46 970.44
NASDAQ 100 Index NDX 1,406.90 1,413.36 1,400.60 1,239.04
S&P; 100 Index OEX 523.52 520.23 517.95 487.94

ISE MOST ACTIVE CALL SERIES FOR   12/01/2003 - 12/05/2003
 Rank   Issuer   Bin   Option Symbol   Expiration   Strike   Volume 
1   Microsoft Corporation 10 MSQ Dec, 2003 27.5 17,756
2   Time Warner Inc. 7 ZAN Jan, 2005 10 16,005
3   General Motors Corp. 9 GM Dec, 2003 47.5 15,756
4   BEA Systems, Inc. 5 BUC Jan, 2004 12.5 15,699
5   BEA Systems, Inc. 5 BUC Jan, 2004 12.5 15,668
6   Texas Instruments Inc. 3 TXN Jan, 2004 30 15,328
7   International Business Machines 3 IBM Dec, 2003 90 14,358
8   Intel Corporation 6 INQ Dec, 2003 35 14,230
9   Microsoft Corporation 10 MSQ Jan, 2004 25 13,760
10   Texas Instruments Inc. 3 TXN Dec, 2003 30 13,665

ISE MOST ACTIVE PUT SERIES FOR   12/01/2003 - 12/05/2003
 Rank   Issuer   Bin   Option Symbol   Expiration   Strike   Volume 
1   Nasdaq-100 Shares 2 QQQ Jan, 2004 35 16,470
2   Time Warner Inc. 7 ZAN Jan, 2005 7.5 16,090
3   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 13,031
4   Intel Corporation 6 INQ Dec, 2003 32.5 10,795
5   Nasdaq-100 Shares 2 QAV Dec, 2003 34 9,955
6   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 8,712
7   Nasdaq-100 Shares 2 QQQ Dec, 2003 36 8,581
8   Advanced Micro Devices Inc. 8 AMD Dec, 2003 17 7,957
9   Nasdaq-100 Shares 2 QAV Dec, 2003 33 7,671
10   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 7,432


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