Average Daily Volume was 76,394, an increase of over 10% on the previous September. This follows the record trading on 28 August, where over 150,000 contracts were traded in a single day.
The ratio of call options to put options was 60 - 40, a reversal of the figures seen last September. In general, a higher proportion of call options indicates a higher level of overall confidence that the market will continue to rise.
Additionally, September saw the equities market achieved its highest turnover in a single month. At close of trading, $56B was traded in the market over the course of the month. The previous record for turnover was July 2003 with $53B traded. The September figure was a 22% increase over September 2002. Average daily trades were 73,300 for the month, which was 41% up on Sept 2002.
Average Daily Trades divides the total number of trades by the number of trading days in the month, providing a standard way to measure monthly volumes, as trading day numbers differ each month.
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