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Trading in equity options reached a record level as volume for the month totaled 43,496,845 contracts, a new all-time high at CBOE, topping the previous record of 40,308,397 contracts traded in March 2007.May equity options volume at CBOE was up 17% over last May's total of 37.1 million contracts and up 10% over April 2007's total of 39.7 million contracts.
Total index and exchange traded fund (ETF) options volume at CBOE was 34,120,742 contracts in May, an increase of 2% over May 2006 volume of 33.4 million contracts. Volume in options on the Russell 2000 Index (RUT) rose 116% over May 2006 to a new record of 477,908 contracts, surpassing the previous high of 453,043 contracts traded in March 2007.
|
Total Volume |
May 2007 Volume (22 days) |
% Change vs May 2006(22 days) |
% Change vs April 2007 (20 days) |
Year-To-Date Volume (103 days) |
% Change vs 2006 (103 days) |
|---|---|---|---|---|---|
|
Industry Total |
229,227,230 |
+15% |
+16% |
1,035,533,312 |
+24% |
|
CBOE Total |
77,617,777 |
+10% |
+13% |
351,629,603 |
+28% |
|
Avg Daily Vol |
3,528,081 |
+10% |
+3% |
3,413,880 |
+28% |
|
Equity |
43,496,845 |
+17% |
+10% |
195,296,838 |
+18% |
|
Index & ETF |
34,120,742 |
+2% |
+19% |
156,329,328 |
+42% |
|
ETF (only) |
15,287,784 |
-4% |
+25% |
69,611,525 |
+42% |
|
Open Interest |
242,466,547 |
+25% |
+10% |
----- |
----- |
For May, CBOE market share of total industry volume was nearly 34%. This was a decrease of less than one percentage point from April 2007. Year-to-date, CBOE's total market share of 34% is 1.1 percentage points ahead of 2006. CBOE's year-to-date market share in multiply listed index and ETF options is 40%, while YTD market share in equity options (excluding ETFs) is 26%.
|
CBOE Market Share |
May 2007 Market Share |
% Change vs
May 2006 |
% Change vs April 2007 |
Year-To-Date Market Share |
% Change vs 2006 |
|---|---|---|---|---|---|
|
Exchange |
33.9% |
-1.4% |
-.9% |
34% |
+1.1% |
|
Equity |
26.5% |
-.3% |
-.7% |
26.1% |
-.1% |
|
Index & ETF (multiple listings only) |
38.3% |
-5.9% |
-3.6% |
40.3% (last 12 months) |
+.3% |
New Single-Day Volume Records Set In VIX, DJX, and Weekly Options; CBOE Seat Price Reaches New All-Time High
On May 16th, volume in options on the CBOE Volatility Index (VIX) was 277,260 contracts, setting a new all-time record for single-day volume, and beating the previous single-day record of 208,872 contracts set on March 8, 2007. Total volume for VIX options during May was 1,569,794 contracts.
Volume in Dow Jones Industrial Average (DJX) options also set a new record on May 16th.Volume of 154,938 contracts topped the previous single-day record of 139,535 contracts set on September 19, 2001.Total volume for DJX options during the month of May was 775,071 contracts.
Volume in options on the S&P 500 Index (SPX) and S&P 100 Index (OEX) with Weekly expirations set new records for single-day volume on Friday, May 25th. In SPX Weeklys, volume was 10,454 contracts, while OEX Weeklys traded 12,008 contracts.
Total volume in index and exchange traded fund (ETF) options during May was 34.1 million contracts, up 2% over May 2006's volume of 33.4 million contracts. The top five most-actively traded index and ETF options at CBOE during May were S&P 500 Index (SPX), iShares Russell 2000 Index Fund (IWM), Nasdaq-100 Index Tracking Stock (QQQQ), Standard & Poor's Depositary Receipts (SPY), and CBOE Volatility Index (VIX).
In May, volume in equity options totaled a record 43.5 million contracts, an increase of 17% over May 2006's volume of 37.1 million contracts. The top five most actively traded equity options during the month were Dendreon Corporation (DNDN), Apple Computer, Inc. (AAPL), Yahoo! Inc. (YHOO), Amazon.com, Inc. (AMZN) and Neurochem, Inc. (NRMX).
CBOE seat prices set new record highs when two seats traded on May 30th. One seat, or membership, traded for a price of $2,445,000, followed by another sale on the same day at a price of $2,500,000. Both trades topped the previous high of $2,400,000 for a CBOE seat, which was set on April 30, 2007.
May volume at the CBOE Stock Exchange (CBSX), the newest U.S. stock exchange, was 34,896,180 shares, with an average daily volume of 1,586,190 shares. A total of 93,372 trades were executed during May.
May Is Second Busiest Month Ever At CFE; Volume Of 81,006 Contracts Rises 44% vs 2006
Volume at the CBOE Futures Exchange, LLC (CFE) during May totaled 81,006 contracts, an increase of 44% over May 2006's volume of 56,299 contracts. Average daily volume during May was 3,682 contracts. At month's end, total open interest stood at 47,454 contracts, up 33% over the end of May 2006.
Volume in VIX futures (ticker symbol VX) totaled 78,716 contracts, up 56% over a year-ago. Open Interest in VIX futures stood at 43,609 contracts at the end of May. Volume in futures on the CBOE DJIA Volatility Index (VXD) (ticker symbol DV) was 1,758 contracts.Open interest in CBOE S&P 500 3-Month Variance futures (ticker symbol VT) reached a new all-time high of 3,420 contracts at the end of May.
|
CFE Total Volume |
May 2007 Volume |
% Change vs May 2006 |
% Change vs April 2007 |
Year-To-Date Volume |
% Change vs 2006 |
|---|---|---|---|---|---|
|
Exchange |
81,006 |
+44% |
+95% |
275,045 |
+93% |
|
Avg Daily Vol |
3,682 |
+44% |
+77% |
2,670 |
+93% |
|
Open Interest |
47,454 |
+33% |
+5% |
-- |
-- |
CBOE Individual Index Volume Figures For May 2007
|
Symbol |
Product |
Total Volume |
% Change vs May 06 |
% Change vs April 07 |
Open Interest |
% Change vs 2006 |
|---|---|---|---|---|---|---|
|
SPX |
S&P 500 Index |
13,315,622 |
+20% |
+14% |
10,682,360 |
+23% |
|
VIX |
CBOE Volatility Index (options) |
1,569,794 |
+54% |
+41% |
1,385,655 |
+72% |
|
SPY |
Standard & Poor's Depositary Receipts (SPDRs) |
2,865,882 |
+7% |
-2% |
6,695,923 |
+77% |
|
XSP |
Mini-S&P 500 Index |
73,575 |
-37% |
+47% |
891,595 |
+12% |
|
OEX |
S&P 100 Index (American-Style Exercise) |
1,250,340 |
-35% |
+5% |
349,329 |
-30% |
|
XEO |
S&P 100 Index
(European-Style Exercise) |
182,520 |
-54% |
-21% |
91,557 |
-23% |
|
DJX |
Dow Jones Industrial Average |
775,071 |
-17% |
+7% |
890,345 |
+11% |
|
DIA |
DIAMONDS Trust, Series 1 |
795,168 |
-24% |
+34% |
1,437,436 |
+6% |
|
NDX |
Nasdaq-100 Index |
737,263 |
-12% |
+32% |
721,831 |
+13% |
|
MNX |
CBOE Mini-NDX Index (based on Nasdaq-100) |
304,866 |
-60% |
-11% |
1,983,746 |
-8% |
|
QQQ |
Nasdaq-100 Index Tracking Stock |
3,269,695 |
-3% |
+22% |
8,806,331 |
+31% |
|
RUT |
Russell 2000 Index |
477,908 New Record |
+116% |
+19% |
1,447,501 |
+152% |
|
IWM |
iShares Russell 2000
Index Fund |
5,994,167 |
-8% |
+48% |
7,500,975 |
+31% |
|
SMH |
Semiconductor HOLDRs Trust |
105,073 |
-44% |
-40% |
1,011,005 |
+32% |
|
OIH |
Oil Services HOLDRs Trust |
327,690 |
-15% |
+2% |
889,161 |
+66% |
|
EEM |
iShares MSCI Emerging Markets Index |
478,383 |
+230% |
+6% |
927,472 |
+611% |
|
XLF |
Financial Select SPDR |
228,882 |
+216% |
+10% |
1,799,998 |
+164% |
|
XLE |
Energy Select SPDR |
295,053 |
-66% |
+80% |
1,558,662 |
+1% |
CBOE, the largest options marketplace in the U.S. and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the CBOE website at: http://www.cboe.com/.
