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CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that January trading volume for options contracts on Chicago Board Options Exchange® (CBOE®) and C2 Options ExchangeSM (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®) totaled 89.02 million contracts. Average daily volume (ADV) in January was 4.24 million contracts, up eight percent from 3.93 million contracts in December 2012 and down seven percent from 4.56 million contracts in January 2012.
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In January, CBOE Volatility Index® (VIX®) options and futures both established record-breaking monthly trading volumes.
|
CBOE Holdings Consolidated Trading Volume |
|||||
|
(trades in thousands) |
Jan-13 |
Jan-12 |
% |
Dec-12 |
% |
|
Trading Days |
21 |
20 |
20 |
||
|
Total Contracts |
89,019.9 |
91,173.9 |
-2% |
78,594.1 |
13% |
|
Total Options Contracts |
86,092.3 |
90,362.7 |
-5% |
76,147.6 |
13% |
|
Total Futures Contracts |
2,927.6 |
811.3 |
261% |
2,446.5 |
20% |
|
Total ADV |
4,239.0 |
4,558.7 |
-7% |
3,929.7 |
8% |
|
Total Options ADV |
4,099.6 |
4,518.1 |
-9% |
3,807.4 |
8% |
|
Total Futures ADV |
139.4 |
40.6 |
244% |
122.3 |
14% |
CBOE Trading Volume and Market Share
CBOE Trading Volume:
- January 2013 ADV at CBOE was 3.85 million contracts, down 11 percent from January 2012 ADV of 4.32 million contracts and up seven percent from December 2012 ADV of 3.60 million contracts.
- VIX Index options recorded their best month ever with an average daily volume of 680,822 contracts, exceeding the previous record ADV of 582,022 contracts in August 2011. Total volume for the month was 14.3 million contracts, also a new record.
- During the month, index options ADV rose 46 percent and 19 percent, respectively, from January 2012 and December 2012.
- The five most actively traded index and ETF options at CBOE during January were S&P 500® Index (SPXSM) options, CBOE Volatility Index® (VIX® Index) options, Standard & Poor's Depositary Receipt (SPY) options, iShares Trust - Russell 2000 Index Fund (IWM) options and iPath S&P 500 VIX Short-Term Futures ETN (VXX) options.
|
CBOE Trading Volume Current Month |
|||||
|
(trades in thousands) |
Jan-13 |
Jan-12 |
% |
Dec-12 |
% |
|
Trading Days |
21 |
20 |
20 |
||
|
Total Exchange |
80,839.6 |
86,326.8 |
-6% |
71,937.6 |
12% |
|
Total Exchange ADV |
3,849.5 |
4,316.3 |
-11% |
3,596.9 |
7% |
|
Equity Options |
32,613.1 |
44,147.6 |
-26% |
27,931.0 |
17% |
|
Equity Options ADV |
1,553.0 |
2,207.4 |
-30% |
1,396.5 |
11% |
|
Index Options |
32,027.7 |
20,898.1 |
53% |
25,628.9 |
25% |
|
Index Options ADV |
1,525.1 |
1,044.9 |
46% |
1,281.4 |
19% |
|
ETF Options |
16,198.8 |
21,281.1 |
-24% |
18,377.8 |
-12% |
|
ETF Options ADV |
771.4 |
1,064.1 |
-28% |
918.9 |
-16% |
Expanded full-year and January 2013 volume information for CBOE index and ETF options is available at: www.cboe.com/data/monthlyvolume.aspx.
CBOE Market Share:
CBOE market share of total U.S. options industry volume was 22.4 percent in January 2013, down 0.6 of a percentage point from December 2012 and down 3.3 percentage points from January 2012. If the volume from dividend trades was excluded from industry data for January, the Exchange's total market share would be 22.8 percent. Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in the options business.
|
CBOE Market Share Current Month |
|||||
|
Jan-13 |
Jan-12 |
% Pt. |
Dec-12 |
% Pt. |
|
|
Total Exchange |
22.4% |
25.7% |
-3.3% |
23.0% |
-0.6% |
|
Total Exchange |
22.8% |
27.8% |
-5.0% |
24.3% |
-1.5% |
|
Equity Options |
14.8% |
20.6% |
-5.8% |
16.8% |
-2.0% |
|
Equity Options |
16.4% |
23.7% |
-7.3% |
19.1% |
-2.7% |
|
Index Options |
94.8% |
95.0% |
-0.2% |
94.9% |
-0.1% |
|
Index Options |
94.6% |
95.0% |
-0.4% |
94.5% |
0.1% |
|
ETF Options |
15.2% |
21.4% |
-6.2% |
15.4% |
-0.2% |
|
ETF Options |
15.2% |
21.4% |
-6.2% |
16.5% |
-1.3% |
C2 Trading Volume and Market Share
|
C2 Trading Volume Current Month |
|||||
|
(trades in thousands) |
Jan-13 |
Jan-12 |
% |
Dec-12 |
% |
|
Trading Days |
21 |
20 |
20 |
||
|
Total Exchange |
5,252.7 |
4,035.9 |
30% |
4,210.0 |
25% |
|
Total Exchange ADV |
250.1 |
201.8 |
24% |
210.5 |
19% |
|
Equity Options |
2,451.2 |
1,837.9 |
33% |
1,815.1 |
35% |
|
Equity Options ADV |
116.7 |
91.9 |
27% |
90.8 |
29% |
|
Index Options |
84.2 |
92.7 |
-9% |
119.3 |
-29% |
|
Index Options ADV |
4.0 |
4.6 |
-13% |
6.0 |
-33% |
|
ETF Options |
2,717.3 |
2,105.3 |
29% |
2,275.7 |
19% |
|
ETF Options ADV |
129.4 |
105.3 |
23% |
113.8 |
14% |
C2 Trading Volume:
C2 volume in January 2013 totaled 5.25 million contracts. ADV was 250,100 contracts — up 24 percent from January 2012 ADV of 201,800 contracts and up 19 percent from December 2012 ADV of 210,500 contracts.
|
C2 Market Share Current Month |
|||||
|
Jan-13 |
Jan-12 |
% Pt. |
Dec-12 |
% Pt. |
|
|
Total Exchange |
1.5% |
1.2% |
0.3% |
1.4% |
0.1% |
|
Total Exchange |
1.5% |
0.9% |
0.6% |
1.4% |
0.1% |
|
Equity Options |
1.1% |
0.9% |
0.2% |
1.1% |
-- |
|
Equity Options |
1.2% |
1.0% |
0.2% |
1.1% |
0.1% |
|
Index Options |
0.2% |
0.4% |
-0.2% |
0.4% |
-0.2% |
|
Index Options |
0.2% |
0.4% |
-0.2% |
0.5% |
-0.3% |
|
ETF Options |
2.5% |
2.1% |
0.4% |
1.9% |
0.6% |
|
ETF Options |
2.6% |
2.1% |
0.5% |
2.0% |
0.6% |
C2 Market Share:
C2 market share of total industry volume in January 2013 was 1.5 percent, up 0.3 of a percentage point from January 2012 and up 0.1 of a percentage point fromDecember 2012.
CBOE Futures Exchange Trading Volume
- VIX futures monthly trading volume and ADV established all-time highs in January 2013. Nearly 2.9 million VIX futures contracts changed hands, beating the previous record of over 2.7 million contracts traded in November 2012.
- The record VIX futures ADV in January was 137,988 contracts, up 241 percent and 13 percent, respectively, from 40,439 contracts in January 2012 and 121,782 contracts inDecember 2012.
- VIX futures also set new open interest records on four consecutive days in January, culminating on January 16 with record open interest of 472,403 contracts.
CBOE Holdings Average Transaction Fee Per Contract
The company will report its average transaction fee per contract for the three months ended December 31, 2012, in conjunction with its quarterly earnings news release, which will be issued on Friday, February 8, 2013. This information also will be posted to the Investor Relations section of CBOE's web site under Financial Information, Supplemental Information.
