-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LLFsiC+vZA9rPGzjk+ICfK/Y2rms7PCoMmGip2Z0w4j/wkMo0dKDN7duLU3UjqGC
 jnHtQXCUncHMMC90EUzw7g==

<SEC-DOCUMENT>0001172665-06-000328.txt : 20060818
<SEC-HEADER>0001172665-06-000328.hdr.sgml : 20060818
<ACCEPTANCE-DATETIME>20060818125735
ACCESSION NUMBER:		0001172665-06-000328
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060603
FILED AS OF DATE:		20060818
DATE AS OF CHANGE:		20060818

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Optionable Inc
		CENTRAL INDEX KEY:			0001303433
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				000000000

	BUSINESS ADDRESS:	
		STREET 1:		555 PLEASANTVILLE ROAD
		STREET 2:		SOUTH BUILDING SUITE 110
		CITY:			BRIARCLIFF MANOR
		STATE:			NY
		ZIP:			10510
		BUSINESS PHONE:		914-773-1100

	MAIL ADDRESS:	
		STREET 1:		555 PLEASANTVILLE ROAD
		STREET 2:		SOUTH BUILDING SUITE 110
		CITY:			BRIARCLIFF MANOR
		STATE:			NY
		ZIP:			10510

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Zucker Yechiel Abraham
		CENTRAL INDEX KEY:			0001355156

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51837
		FILM NUMBER:		061042917

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		914-773-1100

	MAIL ADDRESS:	
		STREET 1:		555 PLEASANTVILLE ROAD, SUITE 110
		CITY:			BRIAR CLIFF MANOR
		STATE:			NY
		ZIP:			10510
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>form4a_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2006-06-03</periodOfReport>

    <dateOfOriginalSubmission>2006-03-13</dateOfOriginalSubmission>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001303433</issuerCik>
        <issuerName>Optionable Inc</issuerName>
        <issuerTradingSymbol>OPBL.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001355156</rptOwnerCik>
            <rptOwnerName>Zucker Yechiel Abraham</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>555 PLEASANTVILLE ROAD, SUITE 110</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BRIARCLIFF MANOR</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10510</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive V.P. and Secretary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.20</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-12-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>58333</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.20</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-06-03</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>58333</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>58333</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.20</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-12-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>58333</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.20</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-12-03</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>58333</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>116666</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.20</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-12-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>58334</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.20</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2006-06-03</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>58334</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>175000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The 175,000 options reported herein were granted to Mr. Zucker pursuant to an Option Agreement dated 12/3/2004, all of which
 are intended to be non-statutory stock options (the &quot;Options&quot;). The Options do not expire, however they may be terminated,
 even if vested, upon the earlier of either (i) one year after the death of the Optionee; or (ii) immediately upon (a)
 Optionee's termination of employment or service for Cause or (b) if Optionee is in breach of employment or consulting
 agreement with the Issuer or one of its subsidiaries, in each case as determined by the Board.</footnote>
    </footnotes>

    <remarks>Voluntary filing of Exit Form - no longer subject to Section 16 effective May 23, 2006</remarks>

    <ownerSignature>
        <signatureName>Yechiel Abraham Zucker</signatureName>
        <signatureDate>2006-08-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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