December 22, 2003 - December 26, 2003

ISE SENTIMENT INDEX (ISEE) FOR   12/15/2003 - 12/19/2003
 Date Index
12/19/2003 172
12/18/2003 151
12/17/2003 185
12/16/2003 199
12/15/2003 199

ECONOMIC EVENTS
Release Date Release Time Indicator Period
12-22-03 none
12-23-038:30
8:30
8:30
8:30
Personal Income
Personal Consumption
Gross Domestic Product (Final)
Chain Weighted Defaltor - Final
Nov.
Nov.
3Q
3Q
12-24-038:30
8:30
10:00
Durable Goods Orders
Initial Jobless Claims
New Home Sales
Nov.
Latest week.
Nov.
12-25-03 none
12-26-03 none

EXPECTED EARNINGS ANNOUNCEMENTS
Date Symbol
12/22/2003CAG
12/23/2003MU

MAJOR MARKET EVENTS
Date Event
12/24/2003 Markets close at 1 PM -- Christmas Eve.
12/25/2003 Christmas Day -- Markets Closed.
12/26/2003 Markets close at 1 PM.
1/1/2004 Markets Closed. New Year's Day.

MARKET BENCHMARKS
Benchmark Symbol Level 21-dma 50-dma 200-dma
Dow Jones Industrial Average INDU 10,278.22 9,925.11 9,823.89 9,149.69
S&P; 500 Index SPX 1,088.65 1,064.60 1,053.83 983.32
S&P; 500 Index Futures SP/4H 1,085.40 1,064.36 1,053.10 982.52
NASDAQ 100 Index NDX 1,426.17 1,411.12 1,411.26 1,259.92
S&P; 100 Index OEX 540.26 526.26 522.12 493.50

ISE MOST ACTIVE CALL SERIES FOR   12/15/2003 - 12/19/2003
 Rank   Issuer   Bin   Option Symbol   Expiration   Strike   Volume 
1   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 26,252
2   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 23,282
3   Intel Corporation 6 INQ Jan, 2004 30 23,016
4   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 19,815
5   Oracle Corporation 5 ORQ Dec, 2003 12.5 17,806
6   Intel Corporation 6 INQ Jan, 2004 30 16,197
7   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 14,343
8   EMC Corporation 8 EMC Jan, 2004 12.5 13,487
9   Applied Materials Inc. 9 ANQ Jan, 2004 20 12,888
10   Citigroup Inc. 8 C Dec, 2003 47.5 12,288

ISE MOST ACTIVE PUT SERIES FOR   12/15/2003 - 12/19/2003
 Rank   Issuer   Bin   Option Symbol   Expiration   Strike   Volume 
1   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 16,251
2   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 15,345
3   Nasdaq-100 Shares 2 QQQ Jan, 2004 35 14,186
4   Nasdaq-100 Shares 2 QQQ Dec, 2003 35 12,109
5   Nasdaq-100 Shares 2 QQQ Jan, 2004 35 9,718
6   Intel Corporation 6 INQ Dec, 2003 30 8,958
7   Nasdaq-100 Shares 2 QAV Dec, 2003 34 8,407
8   Nasdaq-100 Shares 2 QQQ Dec, 2003 36 8,351
9   Rambus Inc. 5 BNQ Dec, 2003 25 7,534
10   Nasdaq-100 Shares 2 QAV Jan, 2004 34 7,454


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