VIX FUTURES - CBOE FUTURES EXCHANGE
OPTION AND FUTURES COMBINED POSITIONS AS OF 01/04/05          |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short
--------------------------------------------------------------------------------
($100 X VBI)                                         OPEN INTEREST:        9,379
COMMITMENTS
   4,589    1,424      244    2,606    7,099    7,439    8,767    1,940      612

CHANGES FROM 12/28/04 (CHANGE IN OPEN INTEREST:         20)
     -11       43        1       78       16       68       60      -48      -40

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
    48.9     15.2      2.6     27.8     75.7     79.3     93.5     20.7      6.5

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       25)
      13        5        3        5        6       21       12
 

Updated January 7, 2005