Exchange-wide volume for July 2003 totaled 24,727,786 contracts (14,114,477 calls and 10,613,309 puts), down 14% versus the 28,610,135 contracts traded in July 2002. For the month of July, average daily volume was 1,123,990 contracts. At the end of July, open interest reached 110,192,923 contracts, 28% higher than the close of July 2002.
Stock options volume in July 2003 totalled 15,604,696 contracts (10,354,193 calls and 5,250,503 puts), a 9% decrease from the 17,078,716 contracts traded in July 2002. For the month of July, average daily volume in stock options was 709,304 contracts. Open interest in stock options stood at 92,909,939 contracts at the end of July 2003, up 27% from the end of July 2002.
For the first time since April 2002, a span of fourteen consecutive months, total index options volume failed to post a gain at CBOE. In July 2003, total index options volume reached 9,109,931 contracts (3,750,325 calls and 5,359,606 puts), a decrease of 21% from the 11,527,040 contracts traded in July 2002, when several all-time index options volume records were established at CBOE. For the month of July, average daily volume in index options totalled 414,088 contracts. At the end of July 2003, open interest in index options was 17,270,321 contracts, exceeding the July 2002 level by 34%.
Options on the S&P 500 Index (SPX) were the most-actively traded index options at CBOE during July 2003, with volume totalling 2,700,624 contracts, a decrease of 30% when compared to the July 2002 volume of 3,859,734 contracts -- the all-time SPX monthly volume record. Average daily volume during July in SPX options was 122,756 contracts. Open interest stood at 4,320,257 contracts at the end of July 2003, a gain of 11% over year-ago levels.
Trading volume for options on the Nasdaq-100 Index Tracking Stock (QQQ) totaled 2,646,288 contracts, an increase of 8% over the July 2002 volume of 2,450,147 contracts. Average daily volume during July in QQQ options was 120,286 contracts. Open interest stood at 8,531,243 contracts at the end of July 2003, an increase of 44% over the July 2002 level.
Trading volume for options on the Nasdaq-100 Index (NDX) totaled 160,548 contracts, an increase of 20% over the July 2002 volume of 134,270 contracts and 11% higher than the previous month's (June 2003) total of 145,178 contracts. Average daily volume during July in NDX options was 7,289 contracts. Open interest stood at 133,285 contracts at the end of July 2003, up 37% from the previous year's total.
Trading volume for options on the S&P 100 Index (OEX) experienced a decrease of 32% as July 2003 volume in OEX options totaled 1,248,402 contracts, versus the 1,837,865 contracts from July 2002. Average daily volume during July in OEX options was 56,746 contracts. Open interest stood at 239,575 contracts at the end of July 2003, down 34% from the 2002 level.
Trading volume for options on the S&P 100 Index with European-style settlement (XEO), however, posted a gain of 15%, as total volume in July was 175,030 contracts. Open interest stood at 125,417 contracts at the end of July 2003, 78% higher than the previous year's total.
July 2003 trading volume for options on DIAMONDS (DIA) totaled 637,502 contracts, 23% below the July 2002 total of 825,029 contracts. Average daily volume during July in DIA options was 28,977 contracts, while open interest stood at 748,562 contracts at the end of July 2003, 192% above the year-ago levels. CBOE launched options on DIAMONDS on May 20, 2002.
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.
