CBOE Holdings, Inc. (NASDAQ: CBOE) today reported that July 2012 trading volume for options on the Chicago Board Options Exchange® (CBOE®) and C2 Options ExchangeSM (C2SM), combined, totaled 87.20 million contracts.
July average daily volume (ADV) was 4.15 million contracts, a nine-percent decrease from July 2011 ADV of 4.57 million contracts and an almost ten-percent decrease from June 2012 ADV of 4.61 million contracts. Year to date through July, combined CBOE and C2 volume is about even with the same period one year ago.
CBOE Trading Volume and Market Share
- CBOE trading volume — CBOE's July 2012 ADV was 3.97 million contracts, down nine percent from 4.35 million contracts ADV in July 2011 and down ten percent from June 2012ADV of 4.41 million contracts.
- CBOE equity options — July 2012 equity option ADV was 1.89 million contracts, up three percent from 1.83 million contracts ADV in July 2011 and up nine percent from June 2012 ADV of 1.73 million contracts.
- CBOE index options — July 2012 index option ADV was 1.07 million contracts, down 18 percent from almost 1.30 million contracts ADV in July 2011 and down 14 percent fromJune 2012 ADV of 1.25 million contracts.
- CBOE ETF options — July 2012 ETF option ADV was 1.01 million contracts, down 17 percent from 1.22 million contracts ADV in July 2011 and down 29 percent from June 2012ADV of 1.43 million contracts.
- The five most actively traded index and ETF options at CBOE during July were the S&P 500® Index, (SPXSM), Standard & Poor's Depositary Receipts (SPY), CBOE Volatility Index® (VIX® Index), iShares Trust Russell 2000 Index Fund (IWM) and PowerShares QQQ Trust (QQQ).
- The five most actively traded equity options at CBOE during July were Apple (AAPL), Bank of America (BAC), JPMorgan Chase (JPM), Facebook (FB) and Microsoft (MSFT).
|
CBOE Trading Volume |
Year-To-Date |
|||||||
|
(trades in thousands) |
Jul-12 |
Jul-11 |
% Chg |
Jun-12 |
% Chg |
Jul-12 |
Jul-11 |
% Chg |
|
Trading Days |
21 |
20 |
21 |
146 |
145 |
|||
|
Total Exchange |
83,332.2 |
86,976.4 |
-4% |
92,510.8 |
-10% |
651,539.8 |
654,372.4 |
0% |
|
Total Exchange ADV |
3,968.2 |
4,348.8 |
-9% |
4,405.3 |
-10% |
4,462.6 |
4,512.9 |
-1% |
|
Equity Options |
39,594.4 |
36,673.1 |
8% |
36,325.0 |
9% |
299,230.0 |
311,122.7 |
-4% |
|
Equity Options ADV |
1,885.4 |
1,833.7 |
3% |
1,729.8 |
9% |
2,049.5 |
2,145.7 |
-4% |
|
Index Options |
22,446.7 |
25,938.4 |
-13% |
26,187.1 |
-14% |
173,317.9 |
168,831.0 |
3% |
|
Index Options ADV |
1,068.9 |
1,296.9 |
-18% |
1,247.0 |
-14% |
1,187.1 |
1,164.4 |
2% |
|
ETF Options |
21,291.1 |
24,364.9 |
-13% |
29,998.8 |
-29% |
178,991.9 |
174,418.6 |
3% |
|
ETF Options ADV |
1,013.9 |
1,218.2 |
-17% |
1,428.5 |
-29% |
1,226.0 |
1,202.9 |
2% |
Expanded July 2012 volume information for CBOE index and ETF options is available at: www.cboe.com/data/monthlyvolume.aspx.
CBOE Market Share:
CBOE July market share was 27.2 percent, up 2.2 percentage points from July 2011 and down 1.2 percentage points from June 2012. If the volume from dividend trades was excluded from industry data for July 2012, CBOE's total market share would be 28.5 percent.
Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in the options business.
|
CBOE Current Month |
Year-To-Date |
||||||||
|
Jul 2012 |
Jul 2011 |
% pt. Chg |
Jun 2012 |
% pt. Chg |
Jul 2012 |
Jul 2011 |
% pt. Chg |
||
|
Total Exchange |
27.2% |
25.0% |
2.2% |
28.4% |
-1.2% |
27.3% |
25.5% |
1.8% |
|
|
Total Exchange (excl. dividend trades) |
28.5% |
25.8% |
2.7% |
29.0% |
-0.5% |
28.5% |
26.4% |
2.1% |
|
|
Equity Options |
22.1% |
19.3% |
2.8% |
23.0% |
-0.9% |
22.0% |
21.1% |
0.9% |
|
|
Equity Option (excl. dividend trades) |
24.0% |
20.5% |
3.5% |
23.7% |
0.3% |
23.6% |
22.3% |
1.3% |
|
|
Index Options |
93.0% |
94.7% |
-1.7% |
93.8% |
-0.8% |
94.1% |
94.4% |
-0.3% |
|
|
Index Options (excl. dividend trades) |
93.2% |
94.9% |
-1.7% |
93.9% |
-0.7% |
94.3% |
94.7% |
-0.4% |
|
|
ETF Options |
20.5% |
18.6% |
1.9% |
21.4% |
-0.9% |
21.2% |
19.1% |
2.1% |
|
|
ETF Options (excl. dividend trades) |
20.6% |
18.6% |
2.0% |
21.8% |
-1.2% |
21.5% |
19.3% |
2.2% |
|
CBOE July 2012 Market Share by Product:
- Equity options — CBOE's market share was 22.1 percent, up 2.8 percentage points from July 2011 and down 0.9 of a percentage points from June 2012.
- ETF options — CBOE's market share was 20.5 percent, up 1.9 percentage points from July 2011 and down 0.9 of a percentage point from June 2012.
- Index options — CBOE's market share was 93.0 percent, down 1.7 percentage points from July 2011 and down 0.8 of a percentage point from June 2012.
C2 Options Exchange Trading Volume and Market Share
C2 Trading Volume:
In July 2012, daily volume on C2 Options Exchange averaged 184,400 contracts, down 16 percent from July 2011 ADV of 220,100 contracts and down eight percent from June 2012 ADV of 199,800 contracts.
July 2012 equity option ADV rose 31 percent from July 2011 and was up 16 percent from June 2012, while ETF options ADV was down against July 2011 and June 2012. Index option ADV also dropped from June 2012.
|
C2 Trading Volume |
Year-To-Date |
|||||||
|
(trades in thousands) |
Jul-12 |
Jul-11 |
% Chg |
Jun-12 |
% pt. Chg |
Jul-12 |
Jul-11 |
% Chg |
|
Trading Days |
21 |
20 |
21 |
146 |
145 |
|||
|
Total Exchange |
3,872.5 |
4,402.3 |
-12% |
4,195.2 |
-8% |
30,974.1 |
26,522.7 |
17% |
|
Total Exchange ADV |
184.4 |
220.1 |
-16% |
199.8 |
-8% |
212.2 |
182.9 |
16% |
|
Equity Options |
1,662.1 |
1,211.5 |
37% |
1,436.3 |
16% |
12,344.0 |
10,177.1 |
21% |
|
Equity Options ADV |
79.1 |
60.6 |
31% |
68.4 |
16% |
84.5 |
70.2 |
20% |
|
Index Options |
113.6 |
NA |
NA |
139.4 |
-19% |
903.5 |
NA |
NA |
|
Index Options ADV |
5.4 |
NA |
NA |
6.6 |
-19% |
6.2 |
NA |
NA |
|
ETF Options |
2,096.9 |
3,190.8 |
-34% |
2,619.5 |
-20% |
17,726.6 |
16,345.6 |
8% |
|
ETF Options ADV |
99.9 |
159.5 |
-37% |
124.7 |
-20% |
121.4 |
112.7 |
8% |
C2 Market Share:
In July 2012, C2's market share was 1.3 percent, unchanged from June 2012 and July 2011.
|
C2 Current Month |
Year-To-Date |
|||||||
|
Jul 2012 |
Jul 2011 |
% pt. Chg |
Jun 2012 |
% pt. Chg |
Jul 2012 |
Jul 2011 |
% pt. Chg |
|
|
Total Exchange |
1.3% |
1.3% |
-- |
1.3% |
-- |
1.3% |
1.0% |
0.3% |
|
Total Exchange (excl. dividend trades) |
1.3% |
1.3% |
-- |
1.3% |
-- |
1.4% |
1.1% |
0.3% |
|
Equity Options |
0.9% |
0.6% |
0.3% |
0.9% |
-- |
0.9% |
0.7% |
0.2% |
|
Equity Option (excl. dividend trades) |
1.0% |
0.7% |
0.3% |
0.9% |
0.1% |
1.0% |
0.7% |
0.3% |
|
Index Options |
0.5% |
NA |
0.5% |
0.5% |
NA |
0.5% |
NA |
NA |
|
Index Options (excl. dividend trades) |
0.5% |
NA |
0.5% |
0.5% |
NA |
0.5% |
NA |
NA |
|
ETF Options |
2.0% |
2.4% |
-0.4% |
1.9% |
0.1% |
2.1% |
1.8% |
0.3% |
|
ETF Options (excl. dividend trades) |
2.0% |
2.4% |
-0.4% |
1.9% |
0.1% |
2.1% |
1.8% |
0.3% |
CBOE Futures Exchange Trading
CBOE Futures ExchangeSM (CFE®) reported that total trading volume in the exchange's flagship product, futures on the CBOE Volatility Index (the VIX Index), rose 64 percent from July 2011. Year to date through July, VIX futures volume is 80 percent ahead of the same period a year ago.
CBOE Holdings Average Transaction Fee Per Contract
The company will report its average transaction fee per contract for the three months ended June 30, 2012, in conjunction with its quarterly earnings news release, which will be issued on Thursday, August 2, 2012. This information also will be posted to the Investor Relations section of CBOE's web site under Financial Information, Supplemental Information.
