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Exchange-wide volume for March 2003 totaled 23,041,783 contracts (12,993,031 calls and 10,048,752 puts), up 12% versus the 20,644,812 contracts traded in March 2002 and a 24% increase over the previous month's (February 2003) total of 18,606,096 contracts. For the month of March, average daily volume was 1,097,228 contracts. At the end of March, open interest reached 89,590,939 contracts, up 15% over the close of March 2002.
On Friday, March 21, 2003, CBOE experienced one of the busiest trading days in its twenty-nine year history as exchange-wide volume eclipsed the two million mark when 2,003,524 contracts (1,228,293 calls and 775,231 puts) traded.
Stock options volume in March 2003 totaled 12,395,497 contracts (7,876,054 calls and 4,519,443 puts), a 26% increase over the previous month's (February 2003) total of 9,845,570 contracts, but a decrease of 17% when compared to the 14,913,322 contracts traded in March 2002. For the month of March, average daily volume in stock options was 590,262 contracts. Open interest in stock options stood at 74,820,604 contracts at the end of March 2003, up 9% from the end of March 2002.
For the eleventh consecutive month, total index options volume posted gains at CBOE. In March 2003, total index options volume reached 10,637,781 contracts (5,111,228 calls and 5,526,553 puts), an increase of 86% over the March 2002 total of 5,729,187 contracts and a 22% increase over the previous month's (February 2003) total of 8,758,171 contracts. For the month of March, average daily volume in index options totaled 506,561 contracts. At the end of March 2003, open interest in index options was 14,760,616 contracts, 71% higher than March 2002.
Options on the S&P 500 Index (SPX) were the most-actively traded index options at CBOE during March, with volume totaling 3,364,973 contracts, which was an increase of 90% over the March 2002 volume of 1,766,485 contracts. Average daily volume during March in SPX options was 160,237 contracts. Open interest stood at 3,761,826 contracts at the end of March 2003, an increase of 25% over year-ago levels.
Trading volume for options on the S&P 100 Index (OEX) increased 82% as March 2003 volume in OEX options totaled 1,375,906 contracts, versus the 754,646 contracts from March 2002. Average daily volume during March in OEX options was 65,519 contracts. Open interest stood at 247,709 contracts at the end of March 2003, an increase of 43% over 2002.
Volume in Options on the Dow Jones Industrial Average (DJX) totaled 1,191,079 contracts, an increase of 51% from the March 2002 volume of 791,147 contracts. Average daily volume during March in DJX options was 56,718 contracts. Open interest stood at 942,955 contracts at the end of March 2003, an increase of 38% over year-ago levels.
March trading volume for options on DIAMONDS (DIA) totaled 1,059,818 contracts, an increase of 62% over the February 2003 volume of 653,708 contracts. Average daily volume during March in DIA options was 50,468 contracts. Open interest stood at 656,052 contracts at the end of March 2003, an increase of 16% over the February 2003 level. CBOE launched options on DIAMONDS in May 2002.
Trading volume for options on the Nasdaq-100 Index Tracking Stock (QQQ) totaled 2,813,837 contracts, an increase of 71% over the March 2002 volume of 1,647,824 contracts. Average daily volume during March in QQQ options was 133,992 contracts. Open interest stood at 7,394,872 contracts at the end of March 2003, an increase of 108% over the March 2002 level.
Volume in the Nasdaq-100 Index options (NDX) totaled 91,354 contracts, an increase of 13% over the March 2002 volume of 80,875 contracts. Average daily volume in NDX options was 4,350 contracts. Open interest stood at 88,146 contracts at the end of March 2003, an increase of 83% over the March 2002 level.
Volume for options on the Russell 2000 Index (RUT) totaled 23,543 contracts, an increase of 85% over the March 2002 volume of 12,702 contracts. Average daily volume during March in RUT options was 1,121 contracts. Open interest stood at 103,125 contracts at the end of March 2003, a decrease of 5% from March 2002.
March 11th marked the 20th anniversary of index options trading. CBOE was the first options exchange to offer options on stock indexes. The first index option, the CBOE 100 Index and known today as the S&P 100 Index (OEX), was launched on March 11, 1983. CBOE now lists options on 32 indexes, including two indexes launched on March 31, 2003 - the CBOE Euro 25 Index (ticker symbol EOR) and the CBOE Asia 25 Index (ticker symbol EYR). For more information on index options and a complete listing of index options available at CBOE, visit the Products section of the CBOE website at www.cboe.com/OptProd/IndexOptions.asp.
CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, access the CBOE web site at www.cboe.com.
