Optionable, Inc. Schedules Third Quarter Report

Briarcliff Manor, NY, October 10, 2006 – Optionable, Inc. (OTCBB: OPBL), a leading provider of natural gas and other energy derivatives brokerage services, announced today that it expects to report earnings for the third quarter on Wednesday, October 25, 2006. The press release will be posted on the company’s website or available from the SEC’s EDGAR site.

About Optionable

Optionable, Inc. is a leading provider of natural gas and other energy derivatives trading and brokerage services, headquartered in Briarcliff Manor, NY. The company provides its services to brokerage firms, financial institutions, energy traders and hedge funds nationwide. In addition to the traditional voice brokerage business, Optionable recently launched an automated derivatives trading platform. OPEX is a real-time electronic trade matching and brokerage system designed to improve liquidity and transparency in the energy derivatives market. For more information about Optionable and OPEX please visit www.optionable.com.


Safe Harbor Statement

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with market acceptance of OPEX, our ability to retain key employees, reliance of strategic relationships, intense and increasing competition, concentration of services revenues related to natural gas derivatives, increased governmental regulations as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. Optionable assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

OPEX is a service mark of Optionable, Inc.

CONTACT

Allan Jordan
The Global Consulting Group
Tel: (646) 284-9452
Email: ajordan@hfgcg.com