The Chicago Board Options Exchange (CBOE) today reported average daily volume (ADV) of 4.5 million contracts in March for a monthly total of 104.4 million contracts. March's average daily volume reflects an eight-percent decline from March 2009 and a seven-percent increase from February 2010 ADV.
For the first quarter of 2010, average daily volume at CBOE rose two percent from the same period one year ago. Quarterly index option ADV rose 26 percent, while equity option and ETF option volume declined by two and ten percent, respectively.
|
Current Month |
Year-To-Date |
||||||
(trades in thousands) |
March 2010 |
March 2009 |
% Chg |
February 2010 |
% Chg |
March 2010 |
March 2009 |
% Chg |
Trading Days |
23 |
22 |
|
19 |
|
61 |
61 |
|
Total Exchange |
104,431.7 |
108,888.8 |
-4% |
80,670.8 |
29% |
277,263.1 |
273,103.4 |
2% |
Total Exchange ADV |
4,540.5 |
4,949.5 |
-8% |
4,245.8 |
7% |
4,545.3 |
4,477.1 |
2% |
Equity Options |
56,230.0 |
58,137.9 |
-3% |
39,529.0 |
42% |
146,171.1 |
148,665.2 |
-2% |
Equity Options ADV |
2,444.8 |
2,642.6 |
-7% |
2,080.5 |
18% |
2,396.2 |
2,437.1 |
-2% |
Index Options |
25,096.0 |
21,310.0 |
18% |
21,263.9 |
18% |
67,670.3 |
53,689.9 |
26% |
Index Options ADV |
1,091.1 |
968.6 |
13% |
1,119.2 |
-3% |
1,109.3 |
880.2 |
26% |
ETF Options |
23,105.7 |
29,439.6 |
-22% |
19,877.8 |
16% |
63,421.4 |
70,744.8 |
-10% |
ETF Options ADV |
1,004.6 |
1,338.2 |
-25% |
1,046.2 |
-4% |
1,039.7 |
1,159.8 |
-10% |
Expanded March volume information for index and ETF options is available at: www.cboe.com/data/monthlyvolume.aspx.
Market Share:
- During the first quarter, CBOE's market share of total U.S. options industry volume was 30.0 percent, 0.1 of a percentage point under the same period in 2009. March 2010 market share was down 1.5 percentage points from March 2009 and 0.8 of a percentage point from February 2010.
- By product category during the first quarter, equity option market share rose 0.1 of a percentage point; index and ETF market share declined by 1.0 and 0.4 percentage points, respectively. CBOE March market share for index options was 91.9 percent, up 1.2 percentage points from March 2009. ETF and equity option market share declined by 2.0 and 3.4 percentage points, respectively, from March 2009.
|
Current Month |
Year-To-Date |
||||||
|
March 2010 |
March 2009 |
% pt. Chg |
February 2010 |
% pt. Chg |
March 2010 |
March 2009 |
% pt. Chg |
Total Exchange |
30.0% |
31.5% |
-1.5% |
30.7% |
-0.7% |
30.0% |
30.1% |
-0.1% |
Equity Options |
25.1% |
28.5% |
-3.4% |
25.2% |
-0.1% |
25.1% |
25.0% |
0.1% |
Index Options |
91.9% |
90.7% |
1.2% |
94.7% |
-2.8% |
93.6% |
94.6% |
-1.0% |
ETF Options |
22.8% |
24.8% |
-2.0% |
23.8% |
-1.0% |
23.4% |
23.8% |
-0.4% |
March 2010 Highlights:
-On March 5, CBOE launched trading in options on the S&P 500® Dividend Index (ticker symbol - DVS). The first contract of its kind in the U.S., S&P 500 Dividend Index options are listed exclusively at CBOE.
-March was the second busiest trading month ever for the CBOE Futures Exchange (CFE), with 217,429 contracts changing hands (nearly 9,500 contracts ADV). For the month, trading volume was up 333 percent when compared to 50,271 contracts in March 2009 and up 16 percent from 188,236 contracts in February 2010. March 2010's ADV ranked in the top five all-time monthly ADV at CFE.
-On March 5, the CBOE Stock Exchange (CBSX) celebrated its third anniversary. During March 2010, CBSX trading volume totaled 256.0 million shares, down 33 percent from March 2009 when 381.0 million shares changed hands.
-The top five most actively traded index and ETF options at CBOE were the S&P 500 Index (SPX), Standard & Poor's Depositary Receipts (SPY), CBOE Volatility Index (VIX), PowerShares QQQ Trust (QQQQ) and iShares Trust-Russell 2000 Index Fund (IWM).
-The top five most actively traded equity options at CBOE were Citigroup (C), Apple (AAPL), Bank of America (BAC), Ford Motor Company (F) and General Electric (GE).
Chicago Board Options Exchange (CBOE), the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX), the world's barometer for market volatility. Other groundbreaking products engineered by CBOE include equity options, security index options, LEAPS, FLEX options, and benchmark products such as the CBOE BuyWrite Index (BXM). CBOE's Hybrid Trading System incorporates electronic and open-outcry trading, enabling customers to choose their trading method. CBOE's Hybrid is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports the CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named "Best of the Web" for options information and education.
CBOE is regulated by the Securities and Exchange Commission (SEC), with trades cleared by the AAA-rated Options Clearing Corporation (OCC).