VIX FUTURES - CBOE FUTURES EXCHANGE
FUTURES ONLY POSITIONS AS OF 02/15/05                         |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  LONG  | SHORT  |SPREADS |  LONG  | SHORT  |  LONG  | SHORT  |  LONG  | SHORT
--------------------------------------------------------------------------------
($100 X VBI)                                         OPEN INTEREST:       11,856
COMMITMENTS
   5,666      290      278    2,051    8,748    7,995    9,316    3,861    2,540

CHANGES FROM 02/08/05 (CHANGE IN OPEN INTEREST:      1,411)
     561     -416        4     -328      629      237      217    1,174    1,194

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
    47.8      2.4      2.3     17.3     73.8     67.4     78.6     32.6     21.4

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       31)
      20        2        4        6        7       28       12
 

Updated February 18, 2005