Exchange-wide volume for September 2003 totaled 24,886,367 contracts (14,068,844 calls and 10,817,523 puts), up 34% versus the 18,594,537 contracts traded in September 2002 and 21% from the 20,600,587 contracts traded in August 2003. The 34% increase represents the largest single-month volume gain, when compared to the previous year, since May 2000. For the month of September, average daily volume was 1,185,065 contracts. At the end of September, open interest reached 124,214,339 contracts, 39% higher than the close of September 2002.
Stock options volume in September 2003 totaled 15,187,828 contracts (10,154,728 calls and 5,033,100 puts), a rise of 42% from the 10,724,406 contracts traded in September 2002 and 24% from the 12,278,105 contracts traded in August 2003. For the month of September, average daily volume in stock options was 723,230 contracts. Open interest in stock options stood at 105,340,944 contracts at the end of September 2003, 36% higher than the end of September 2002.
CBOE anticipates gains in equity volume to continue with the roll-out of its new hybrid trading system, CBOEdirect HyTS. Launched on June 12, 2003, the expansion of the system is ongoing, as 56 additional classes were added in September, bringing the total number now available on hybrid to 103. By year-end, CBOE expects to have the most active 500 equity option classes, which account for approximately 90% of the national volume in equity options, available on CBOEdirect HyTS.
In September 2003, total index options volume reached 9,691,269 contracts (3,910,277 calls and 5,780,992 puts), an increase of 23% from the 7,866,574 contracts traded in September 2002 and 17% from the 8,308,504 contracts traded in August 2003. For the month of September, average daily volume in index options totaled 461,489 contracts. At the end of September 2003, open interest in index options was 18,859,160 contracts, 59% higher than September 2002.
Options on the S&P 500 Index (SPX) were the most-actively traded index options at CBOE during September 2003 with volume totaling 3,151,037 contracts, an increase of 23% when compared to the September 2002 volume of 2,567,281 contracts and 12% from the 2,821,460 contracts traded in August 2003. Average daily volume during September in SPX options was 150,049 contracts. Open interest stood at 4,418,269 contracts at the end of September 2003, a rise of 19% over year-ago levels.
September trading volume for options on the S&P 100 Index (OEX) totaled 1,291,682 contracts, a gain of 6% versus the 1,221,013 contracts from September 2002 and 28% from the 1,010,677 contracts traded in August 2003. Average daily volume during September in OEX options was 61,509 contracts. Open interest stood at 252,293 contracts at the end of September 2003, down 11% from the 2002 level.
Trading volume for options on the S&P 100 Index with European-style settlement (XEO) was 161,140 contracts, 10% above the 146,750 contracts from September 2002 and 9% above the 148,055 contracts traded in August 2003. Open interest stood at 106,457 contracts at the end of September 2003, 61% higher than the previous year's total.
Trading volume for options on the Nasdaq-100 Index Tracking Stock (QQQ) totaled 2,497,031 contracts, a gain of 67% from the September 2002 volume of 1,497,738 contracts and 23% from the 2,028,987 contracts traded in August 2003. Average daily volume during September in QQQ options was 118,906 contracts. Open interest stood at 9,854,960 contracts at the end of September 2003, an increase of 90% over the September 2002 level.
Trading volume for options on the Nasdaq-100 Index (NDX) totaled 180,106 contracts, surging 124% over the September 2002 volume of 80,246 contracts and 58% higher than the 113,872 contracts traded in August 2003. Average daily volume during September in NDX options was 8,576 contracts. Open interest stood at 140,690 contracts at the end of September 2003, 71% higher than the previous year's total.
Volume in options on the Dow Jones Industrial Average (DJX) totaled 747,651 contracts, an increase of 5% over the 713,478 contracts traded in August 2003, but a decrease of 33% from the September 2002 volume of 1,112,199 contracts. Average daily volume during September in DJX options was 35,602 contracts. Open interest stood at 931,949 contracts at the end of September 2003, a modest decline of 1% over year-ago levels.
September 2003 trading volume for options on DIAMONDS (DIA) totaled 835,234 contracts, exceeding the September 2002 total of 673,973 contracts by 24% and the 716,349 contracts traded in August 2003 by 17%. Average daily volume during September in DIA options was 39,773 contracts, while open interest stood at 671,033 contracts at the end of September 2003, 118% above the year-ago levels. CBOE launched options on DIAMONDS on May 20, 2002.
Trading volume for options on the Russell 2000 Index (RUT) totaled 48,906 contracts, up 55% over the September 2002 volume of 31,616 contracts and 6% over the 45,929 contracts traded in August 2003. Average daily volume during September in RUT options was 2,329 contracts. Open interest stood at 137,404 contracts at the end of September 2003, an increase of 61% from the previous year's total.
CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the Securities and Exchange
