VIX FUTURES - CBOE FUTURES EXCHANGE
FUTURES ONLY POSITIONS AS OF 07/12/05                         |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  LONG  | SHORT  |SPREADS |  LONG  | SHORT  |  LONG  | SHORT  |  LONG  | SHORT
--------------------------------------------------------------------------------
($100 X VBI)                                         OPEN INTEREST:       12,854
COMMITMENTS
   6,470    2,430      562    2,363    8,760    9,395   11,752    3,459    1,102

CHANGES FROM 07/05/05 (CHANGE IN OPEN INTEREST:        459)
     254      228       19      112      -69      385      178       74      281

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
    50.3     18.9      4.4     18.4     68.1     73.1     91.4     26.9      8.6

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:       40)
      22        2       10        6        6       37       17
 

Updated July 15, 2005