I have always worried that open outcry will eventually disappear from the options exchanges. I didn’t spend a long time there but I have always loved the CBOE. Things weren’t looking very good after the International Securities Exchange (ISE a great investment by the way) opened its doors and immediately took 33% of the market. But things are getting better for the CBOE and open outcry is holding its own. According to a The Street article only 8% of the order volume is traded through open outcry but 40% of the dollar volume is. I think most of this is the SPX (S & P 500) pit of which only trades at the CBOE. It shows the big trades still look to the floor for best prices. Another good sign for the CBOE is despite declines in 2003 and 2004 in option volume, 2005 showed an increase of 25%. This bodes well for option specializing brokers like OptionsXpress but I am saying that because I must disclose I have a large position in them. It is good to here all this and it looks like they will be here for a while. It also helps that they will be going public soon. For more of this great article read here.