The 10-13 Week Cycle

CALL OPTION Comparison
SPX: 896.00 ..........: OEX: 454.00
SPXAO.................: OXBAH
S&P 500 Index.........: S&P 100 Index
Jan 2003, Call 875.00 : Jan 2003, Call 440.00

Last: 34.50 + 2.10....: 23.00 + 1.80
As %:. 3.85% .........:. 5.07%
In-$ : 2.34% = 21.00 .:. 3.09% = 14.00
T.V. : 1.51%..........:. 1.98%
Last: 34.50 + 2.10....: 23.00 + 1.80
Mkt : 33.50 - 35.50...: 20.10 - 21.90
Size:.. x 1 ... x 1 ..:. x ?? .. x 50
Open: 35.50 ..........: 22.00
Volume ..38...........: ... 3
Lo/Hi 34.50 - 39.70...: 22.00 - 23.00
Previous Cl.: 32.40...:........ 21.20
Previous Close Date 12/24/2002

The SPX call looks BETTER VALUE:
Lower cost (3.85% v. 5.07%, & yet less Time Value!)