CBOE Holdings, Inc. (NASDAQ: CBOE) today reported that October trading volume for options on theChicago Board Options Exchange (CBOE) and C2 Options Exchange (C2), the company's all-electronic market, combined, totaled 105.2 million contracts. Average daily volume (ADV) was 5.0 million contracts, an increase of 16 percent from October 2010 ADV of 4.3 million contracts per day.
CBOE Trading Volume and Market Share
CBOE Trading Volume:
- CBOE's October 2011 ADV of 4.7 million contracts was a nine-percent increase from 4.3 million contracts per day in October 2010 and even withSeptember 2011 ADV.
- CBOE index options — October 2011 index option ADV was 1.4 million contracts, up 35 percent from just over one million contracts ADV in October 2010and down two percent from September 2011 ADV of 1.4 million contracts.
- CBOE ETF options — October 2011 ETF option ADV was 1.5 million contracts, up 49 percent from just over one million contracts ADV in October 2010and down eight percent from September 2011 ADV of 1.6 million contracts.
- CBOE equity options — October 2011 equity option ADV was 1.8 million contracts, down 20 percent from 2.3 million contracts ADV in October 2010 and up 10 percent from September 2011 ADV of 1.7 million contracts.
- The five most actively traded index and ETF options at CBOE during October were the S&P 500 Index (SPX), Standard & Poor's Depositary Receipts (SPY), CBOE Volatility Index (VIX), iShares Trust-Russell 2000 Index Fund (IWM) and QQQ Trust (QQQ).
- The five most actively traded equity options at CBOE during October were Apple (AAPL), Bank of America (BAC), Citigroup, Inc. (C), Microsoft Corporation (MSFT) and JP Morgan Chase & Co. (JPM).
|
CBOE Trading Volume |
Year-To-Date |
||||||||
|
(trades in thousands) |
Oct-11 |
Oct-10 |
% Chg |
Sep-11 |
% pt. Chg |
Oct-11 |
Oct-10 |
% Chg |
|
|
Trading Days |
21 |
21 |
21 |
210 |
209 |
||||
|
Total Exchange |
99,532.7 |
90,943.1 |
9% |
99,446.7 |
0.1% |
997,385.5 |
939,047.8 |
6% |
|
|
Total Exchange ADV |
4,739.7 |
4,330.6 |
9% |
4,735.6 |
0.1% |
4,749.5 |
4,493.1 |
6% |
|
|
Equity Options |
38,681.4 |
48,058.9 |
-20% |
35,019.9 |
10.5% |
434,218.0 |
476,209.4 |
-9% |
|
|
Equity Options ADV |
1,842.0 |
2,288.5 |
-20% |
1,667.6 |
10.5% |
2,067.7 |
2,278.5 |
-9% |
|
|
Index Options |
29,298.8 |
21,720.6 |
35% |
29,985.4 |
-2.3% |
273,963.4 |
228,710.5 |
20% |
|
|
Index Options ADV |
1,395.2 |
1,034.3 |
35% |
1,427.9 |
-2.3% |
1,304.6 |
1,094.3 |
19% |
|
|
ETF Options |
31,552.6 |
21,163.5 |
49% |
34,441.3 |
-8.4% |
289,204.0 |
234,125.5 |
24% |
|
|
ETF Options ADV |
1,502.5 |
1,007.8 |
49% |
1,640.1 |
-8.4% |
1,377.2 |
1,120.2 |
23% |
|
Expanded October volume information for CBOE index and ETF options is available at: www.cboe.com/data/monthlyvolume.aspx.
CBOE Market Share:
CBOE's market share of total U.S. options industry volume in October was 25.5 percent, up 0.1 of a percentage point from September 2011 and down 1.1 percentage points from October 2010. If the volume from dividend trades was excluded from CBOE's data for October 2011, the Exchange's total market share for October would increase to 25.7 percent from 25.5 percent, an increase of 0.2 of a market share point. 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 |
||||||||
|
Oct 2011 |
Oct 2010 |
% pt. Chg |
Sep 2011 |
% pt. Chg |
Oct 2011 |
Oct 2010 |
% pt. Chg |
||
|
Total Exchange |
25.5% |
26.6% |
-1.1% |
25.4% |
0.1% |
25.6% |
29.3% |
-3.7% |
|
|
Total Exchange (excl. dividend trades) |
25.7% |
28.4% |
-2.7% |
26.2% |
-0.5% |
26.4% |
30.4% |
-4.0% |
|
|
Equity Options |
19.6% |
22.1% |
-2.5% |
19.5% |
0.1% |
20.7% |
24.6% |
-3.9% |
|
|
Equity Option (excl. dividend trades) |
20.0% |
24.5% |
-4.5% |
19.9% |
0.1% |
21.6% |
25.9% |
-4.3% |
|
|
Index Options |
95.0% |
95.2% |
-0.2% |
95.7% |
-0.7% |
94.7% |
93.7% |
1.0% |
|
|
Index Options (excl. dividend trades) |
95.5% |
95.6% |
-0.1% |
95.9% |
-0.4% |
95.0% |
94.3% |
0.7% |
|
|
ETF Options |
19.3% |
20.8% |
-1.5% |
19.1% |
0.2% |
19.2% |
22.8% |
-3.6% |
|
|
ETF Options (excl. dividend trades) |
19.4% |
20.8% |
-1.4% |
20.0% |
-0.6% |
19.4% |
23.1% |
-3.7% |
|
CBOE October 2011 Market Share by Product:
- Index options — CBOE's market share was 95.0 percent, down 0.7 of a percentage point from September 2011 and down 0.2 of a percentage point fromOctober 2010.
- ETF options — CBOE's market share was 19.3 percent, up 0.2 of a percentage point from September 2011 and down 1.5 percentage points from October 2010.
- Equity options — CBOE's market share was 19.6 percent, up 0.1 of a percentage point from September 2011 and down 2.5 percentage points fromOctober 2010.
C2 Options Exchange Trading Volume and Market Share
C2 Trading Volume:
In October 2011, C2 ADV was 268,006 contracts, up 17 percent from September 2011 ADV of 228,595 contracts.
ADV for equity options and ETF options in October was up 49 percent and one percent, respectively, from September 2011 ADV.
Trading in SPXpm — the all-electronic S&P 500 Index options contract launched on C2 on October 4 — averaged 5,014 contracts per day in October.
|
C2 Trading Volume |
Year-To-Date |
||||||
|
(trades in thousands) |
Oct-11 |
Oct-10* |
% Chg |
Sep-11 |
% pt. Chg |
October-11 |
|
|
Trading Days |
21 |
1 |
21 |
210 |
|||
|
Total Exchange |
5,628.1 |
0.7 |
-- |
4,800.5 |
17.2% |
44,100.0 |
|
|
Total Exchange ADV |
268.0 |
0.7 |
-- |
228.6 |
17.2% |
210.0 |
|
|
Equity Options |
2,110.4 |
0.7 |
-- |
1,421.1 |
48.5% |
15,921.2 |
|
|
Equity Options ADV |
100.5 |
0.7 |
-- |
67.7 |
48.5% |
75.8 |
|
|
Index Options |
100.3 |
-- |
-- |
-- |
-- |
100.3 |
|
|
Index Options ADV |
5.0 |
-- |
-- |
-- |
-- |
5.0 |
|
|
ETF Options |
3,417.5 |
-- |
-- |
3,379.4 |
1.1% |
28,078.5 |
|
|
ETF Options ADV |
162.7 |
-- |
-- |
160.9 |
1.1% |
133.7 |
|
|
*C2 Options Exchange launched trading on October 29, 2010. |
|||||||
C2 Market Share:
C2's market share of total U.S. options industry volume in October 2011 was 1.4 percent, 0.2 of a percentage point ahead of September 2011market share.
|
C2 Current Month |
Year-To-Date |
||||||||
|
Oct 2011 |
Oct 2010 |
% pt. Chg |
Sep 2011 |
% pt. Chg |
Oct 2011 |
Oct 2010 |
% pt. Chg |
||
|
Total Exchange |
1.4% |
0.0% |
-- |
1.2% |
0.2% |
1.1% |
0.0% |
-- |
|
|
Total Exchange (excl. dividend trades) |
1.4% |
-- |
-- |
1.3% |
0.1% |
1.2% |
0.0% |
-- |
|
|
Equity Options |
1.1% |
0.0% |
-- |
0.8% |
0.3% |
0.8% |
0.0% |
-- |
|
|
Equity Option (excl. dividend trades) |
1.1% |
-- |
-- |
0.8% |
0.3% |
0.8% |
0.0% |
-- |
|
|
Index Options |
0.3% |
-- |
-- |
-- |
-- |
0.0% |
-- |
-- |
|
|
Index Options (excl. dividend trades) |
0.3% |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
ETF Options |
2.1% |
-- |
-- |
1.9% |
0.2% |
1.9% |
-- |
-- |
|
|
ETF Options (excl. dividend trades) |
2.1% |
-- |
-- |
2.0% |
0.1% |
1.9% |
-- |
-- |
|
CBOE Futures Exchange Trading
- Just less than 900,000 contracts changed hands at the CBOE Futures Exchange (CFE) in October, an increase of 88 percent from 479,304 contracts traded a year earlier. October ADV was 42,814 contracts versus 22,824 contracts in October 2010.
- October CBOE Volatility Index (VIX) futures ADV was 42,760 contracts, and total volume was 897,966 contracts, both up 88 percent from year-earlier levels of 22,777 contracts per day and 478,326 contracts traded, respectively.
CBOE Holdings Average Transaction Fee Per Contract
The company will report its average transaction fee per contract for the three months ended September 30, 2011, in conjunction with its quarterly earnings news release, which will be issued on Thursday, November 3, 2011, at the market close. This information also will be posted to the Investor Relations section of CBOE's web site under Financial Information, Supplemental Information.
