Trading of NYMEX Light Sweet Crude Oil Options on OPEX(R)

News Release

Optionable Announces Trading of NYMEX Light Sweet Crude Oil Options on OPEX(R)

VALHALLA, N.Y., April 12 PRNewswire-FirstCall -- Optionable Inc. (OTC Bulletin Board: OPBL), a leading provider of natural gas and other energy derivatives brokerage services, announced today that NYMEX Light Sweet Crude Oil Options will be available on Monday, April 16, 2007 on OPEX, the Company's electronic trading platform.

Optionable CEO Kevin Cassidy said, "Not only are we pleased to offer NYMEX Light Sweet Crude Oil Options to our clients, we are especially proud to be the first one to offer it electronically, on OPEX, our real-time electronic platform."

Optionable President Edward O'Connor said: "Crude oil is the world's most actively traded commodity, and the NYMEX Division light, sweet crude oil futures contract is the world's most liquid forum for crude oil trading, as well as the world's largest-volume futures contract trading on a physical commodity. We believe that the Light Sweet Crude Oil Options will answer the needs of energy market participants."

Light, sweet crude oil is preferred by refiners because of its low sulfur content and relatively high yields of high-value products such as gasoline, diesel fuel, heating oil, and jet fuel.

About Optionable
Optionable, Inc. is a leading provider of natural gas and other energy derivatives trading and brokerage services, headquartered in Valhalla, 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 developed an automated derivatives trading platform. OPEX(R) 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.