July trading volume at CBOE was driven by strong growth in options on indexes and exchange traded funds. Volume in these products rose to 24.4 million contracts during July 2006, up from 14.6 million contracts in July 2005, for a gain of 68% year-to-year. With five months left in the year, several products, including options on S&P 500 Index (SPX) and Standard & Poor's Depositary Receipts (SPY), are approaching their volume totals for all of 2005, while options on Russell 2000 Index (RUT) and iShares Russell 2000 Index Fund (IWM) have already surpassed their trading totals for all of 2005.
|
Total Volume |
July 2006 Volume |
% Change vs July 2005 |
% Change vs June 2006 |
Year-To-Date Volume |
% Change vs 2005 |
|---|---|---|---|---|---|
|
Industry Total |
154,613,858 |
+37% |
-9% |
1,162,268,259 |
+44% |
|
|
|
|
|
|
|
|
CBOE Total |
53,252,016 |
+48% |
-15% |
391,650,522 |
+55% |
|
Avg Daily Vol |
2,662,601 |
+48% |
-7% |
2,701,038 |
+55% |
|
Equity |
28,827,574 |
+35% |
-5% |
224,623,073 |
+48% |
|
Index & ETF |
24,423,479 |
+68% |
-25% |
167,011,623 |
+65% |
|
ETF (only) |
11,477,637 |
+80% |
-29% |
76,600,060 |
+92% |
|
Open Interest |
196,148,183 |
+21% |
-1% |
----- |
----- |
CBOE Market Share Of Total Industry Volume Is 34% In July; Up 2.5 Percentage Points Year-To-Date
CBOE led the six U.S. options exchanges in market share, handling 34% of all industry volume during July. CBOE's market share increased 2.6 percentage points over July 2005, rising from 31.8% to 34.4%. Year-to-date, CBOE's market share of total industry volume is up 2.5 percentage points, equity options market share is up 1.9 percentage points, and multiply listed index and ETF options market share is up 1.4 percentage points.
|
CBOE Market Share |
July 2006 Market Share |
% Change vs July 2005 |
% Change vs June 2006 |
Year-To-Date Market Share |
% Change vs 2005 |
|---|---|---|---|---|---|
|
Exchange |
34% |
+2.6% |
-2.4% |
34% |
+2.5% |
|
Equity |
27% |
+2.1% |
-0.8% |
26% |
+1.9% |
|
Index & ETF (multiple listings only) |
40% |
-4.9% |
-3.0% |
40% |
+1.4% |
VIX Options Continue To Experience Strong Volume; CBOE Revenue Rises 32% To $129.6 Million For First Half Of 2006
- In equity options, volume during July totaled 28.8 million contracts traded, an increase of 35% over July 2005's volume of 21.4 million contracts. The top five most actively traded equity options during July were: Apple Computer, Inc. (AAPL), Altria Group, Inc. (MO), Google, Inc. (GOOG), Yahoo! Inc. (YHOO), and General Motors Corp. (GM).
- Volume in index and exchange traded fund options totaled 24.4 million contracts during July, an increase of 68% over July 2005's volume of 14.6 million contracts. The top five most actively traded index and ETF options during July were: S&P 500 Index (SPX), iShares Russell 2000 Index Fund (IWM), Nasdaq-100 Index Tracking Stock (QQQ), Standard & Poor's Depositary Receipts (SPY) and S&P 100 Index (OEX).
- Options on VIX continue to post solid volume figures, as trading during July totaled 246,283 contracts. In just over five full months of trading, total year-to-date volume already stands at an impressive 2,360,408 contracts. Open interest in VIX options stood at 847,300 contracts at month's end, an increase of 2% above June 2006's open interest. Launched on February 24, 2006, VIX options have become one of the most successful new product launches in CBOE's 33-year history.
- On Monday, July 10, CBOE introduced options with end-of-quarter expirations on Nasdaq-100 Index Tracking Stock (QQQ), Standard & Poor's Depositary Receipts (SPY), iShares Russell 2000 Index Fund (IWM), DIAMONDS Trust, Series 1 (DIA), and Energy Select SPDR (XLE).
- On Thursday, July 27, CBOE announced its reported revenues for the first six months of 2006. Total reported revenues rose 32% to $129.6 million for the first six months of 2006, up from $98.2 million for the first six months of 2005.Income, before taxes, was $32.0 million from January to June 2006, compared to $8.7 million from the same time frame of last year. Retained earnings for the first two quarters of 2006 were $139.2 million, versus $114.3 million through the first two quarters of 2005.
Volume At CBOE Futures Exchange Surges 249% In July; Open Interest Hits New Peak During Month
Volume at CBOE Futures Exchange, LLC (CFE) totaled 29,485 contracts traded during July -- the third busiest month ever for CFE -- and an increase of 249% over July 2005's volume of 8,437 contracts. Average daily volume at CFE for the month's twenty trading days was 1,475 contracts. Volume in futures on the CBOE Volatility Index (VX) was 25,128 contracts traded during July.
Year-to-date volume at CFE is up 92% over 2005 as 218,250 contracts have traded during the first seven months of 2006, compared to 2005's year-to-date volume of 113,627 contracts.
Total exchange open interest reached a new high mark with 45,549 contracts outstanding at the end of trading on Thursday, July 13. At month's end, open interest stood at 33,211 contracts, compared to July 2005's month end open interest of 14,544 contracts.
|
CFE Total Volume |
July 2006 Volume |
% Change vs July 2005 |
% Change vs June 2006 |
Year-To-Date Volume |
% Change vs 2005 |
|---|---|---|---|---|---|
|
Exchange |
29,485 |
+249% |
-36% |
218,250 |
+92% |
|
Avg Daily Vol |
1,475 |
+249% |
-30% |
1,505 |
+92% |
|
Open Interest |
33,211 |
+128% |
-5% |
--- |
--- |
CBOE Individual Index Volume Figures For July 2006
|
Symbol |
Product |
Total Volume |
% Change vs Jul 05 |
% Change vs Jun 06 |
Open Interest |
% Change vs Jul 05 |
|---|---|---|---|---|---|---|
|
SPX |
S&P 500 Index |
8,521,730 |
+68% |
-23% |
7,987,967 |
+8% |
|
XSP |
Mini-S&P 500 Index |
160,637 |
----- |
-26% |
893,734 |
+6% vs Jun 06 |
|
SPY |
Standard & Poor's Depositary Receipts (SPDRs) |
2,373,888 |
+59% |
-22% |
3,926,823 |
+30% |
|
VIX |
CBOE Volatility Index (options) |
246,283 |
----- |
-59% |
847,300 |
+2% vs Jun 06 |
|
OEX |
S&P 100 Index (American-Style Exercise) |
1,480,766 |
+15% |
-19% |
460,360 |
+23% |
|
XEO |
S&P 100 Index (European-Style Exercise) |
399,881 New Record |
+239% |
+167% |
123,594 |
+149% |
|
DJX |
Dow Jones Industrial Average |
776,163 |
+85% |
-12% |
792,015 |
+27% |
|
DIA |
DIAMONDS Trust, Series 1 |
647,142 |
-17% |
-28% |
1,122,912 |
+48% |
|
NDX |
Nasdaq-100 Index |
576,475 |
-3% |
-16% |
507,593 |
-22% |
|
MNX |
CBOE Mini-NDX Index (based on Nasdaq-100) |
340,139 |
-34% |
-32% |
2,040,531 |
-3% |
|
QQQ |
Nasdaq-100 Index Tracking Stock |
2,927,632 |
+47% |
-5% |
6,873,834 |
-18% |
|
RUT |
Russell 2000 Index |
112,692 |
+78% |
-41% |
645,775 |
+313% |
|
IWM |
iShares Russell 2000 Index Fund |
4,176,937 |
+173% |
-41% |
6,750,051 |
+120% |
|
SMH |
Semiconductor HOLDRs Trust |
222,514 |
+116% |
+74% |
1,058,443 |
-4% |
|
OIH |
Oil Services HOLDRs Trust |
229,581 |
+499% |
-18% |
434,211 |
+76% |
|
XLE |
Energy Select SPDR |
294,677 |
+120% |
-59% |
1,386,473 |
+127% |
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, visit the CBOE website at: http://www.cboe.com/
Contacts:
Lynne Howard-Reed
(312) 786-7123
howardl@cboe.com
Gary Compton
(312) 786-7612
comptong@cboe.com
CBOE®, Chicago Board Options Exchange®, CBOEdirect®, CBOE Volatility Index®, VIX®, XEO® and OEX® are registered trademarks of Chicago Board Options Exchange, Incorporated. SPXSM, MNXSM and "PowerPacksSM" are service marks of Chicago Board Options Exchange, Incorporated. CFESM , Gas At The PumpSM and GAPPSM are service marks of CBOE Futures Exchange, LLC. Dow Jones®, DJIA®, and DIAMONDS® are registered trademarks of Dow Jones & Company, Inc. Dow Jones Industrial AverageSM and Options on the DowSM are service marks of Dow Jones & Company. CBOE's Options on the Dow based on the Dow Jones Industrial Average and financial products based on the CBOE DJIA Volatility Index are not sponsored, endorsed, marketed or promoted by Dow Jones. S&P®, S&P 100®, S&P 500®, and SPDR are registered trademarks of the McGraw-Hill Companies, Inc. and are licensed for use by the Chicago Board Options Exchange, Incorporated pursuant to a License Agreement. The Russell 2000® Index is a registered trademark of The Frank Russell Company used under license. Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, and Nasdaq-100 Index Tracking StockSM are trademarks of The Nasdaq Stock Market, Inc. iShares is a service mark of Barclays Global Investors, N.A. "HOLDRS" and "HOLding Company Depositary ReceiptS" are service marks of Merrill Lynch & Co., Inc.
