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During January, total volume in equity options set a new record of 55,049,495 contracts traded, eclipsing the previous high of 51,777,531 contracts traded in October 2007. The 55.0 million contracts traded in January 2008 was up 47% over January 2007's total of 37.5 million contracts.
CBOE also experienced the busiest trading week in its history last month as 32,022,642 contracts traded over the five days spanning January 14 to 18. This new high topped the previous weekly volume record of 27,866,804 contracts traded during the week of August 6 - 10, 2007. Additionally, seven of the top twenty busiest single trading days in CBOE's history occurred during January, including four of the top six all-time trading days.
|
|
Jan 2008 Volume (21 days) |
% Change vs Jan 2007 (20 days) |
% Change vs Dec 2007 (20 days) |
Year-To-Date Volume (21 days) |
% Change vs 2007 (20 days) |
|---|---|---|---|---|---|
|
Industry Total |
357,163,288 |
+81% |
+51% |
357,163,288 |
+81% |
|
CBOE Total |
110,831,088 |
+81% |
+53% |
110,831,088 |
+81% |
|
Avg Daily Vol |
5,277,671 |
+72% |
+46% |
5,277,671 |
+72% |
|
Equity |
55,049,495 |
+47% |
+48% |
55,049,495 |
+47% |
|
Index & ETF |
55,781,479 |
+134% |
+59% |
55,781,479 |
+134% |
|
ETF (only) |
31,981,912 |
+212% |
+62% |
31,981,912 |
+212% |
|
Open Interest |
218,068,457 |
+23% |
-22% |
----- |
----- |
CBOE's January Market Share Of 31% Unchanged Versus Year-Ago
In January, CBOE's market share of total industry volume was 31%, which was unchanged from January 2007, and up one-half percentage point from the previous month. In multiply-listed index and exchange traded fund options, CBOE's January market share was 34.5%, up 1.3 percentage points from the previous month.
|
CBOE Market Share |
Jan 2008 Market Share |
% Change vs
Jan 2007 |
% Change vs Dec 2007 |
Year-To-Date Market Share |
% Changevs 2007 |
|---|---|---|---|---|---|
|
Exchange |
31.0% |
0% |
+0.5% |
31.0% |
0% |
|
Equity |
24.3% |
-0.1% |
+0.8% |
24.3% |
-0.1% |
|
Index & ETF (multiple listings only) |
34.5% |
-6.4% |
+1.3% |
36.3% (last 12 months) |
-2.4% |
QQQQ, SPY and RUT Options Set New Monthly Volume Records During January, Volume In Index and ETF Options Increased 134% Over Year-Ago
*The following individual index and ETF options set new volume records at CBOE during January:
|
Product |
New Record |
Old Record |
|---|---|---|
|
Standard & Poor's Depositary Receipts (SPY) |
7,923,700 |
7,353,058 (Aug 07) |
|
PowerShares QQQ Trust (QQQQ) |
7,004,335 |
5,898,988 (Nov 07) |
|
Russell 2000 Index (RUT) |
1,520,289 |
1,157,229 (Aug 07) |
*Volume in options on index and exchange traded funds (ETF) during January 2008 totaled 55,781,479 contracts, up 134% from the 23,864,073 contracts traded during January 2007. Average daily volume for the month was 2,656,261 contracts, compared to 1,193,204 contracts per day a year-ago.
*The top five most-actively traded index and ETF options at CBOE during January were S&P 500 Index (SPX), iShares Russell 2000 Index Fund (IWM), Standard & Poor's Depositary Receipts (SPY), PowerShares QQQ Trust (QQQQ), and CBOE Volatility Index (VIX).
*Total volume for the month in VIX options was 2,184,959 contracts, up 250% over January 2007's volume of 624,829 contracts. Average daily volume was 104,046 contracts in January 2008, compared to 31,241 contracts per day a year-ago.
*Total equity options volume for January 2008 was a record 55,049,495 contracts, up 47% from the 37,454,543 contracts last January. For the month, average daily volume in equity options was 2,621,405 contracts, compared to 1,872,727 contracts per day a year-ago. The top five most actively traded equity options during January were Apple, Inc. (AAPL), Citigroup, Inc. (C), Intel Corporation (INTC), Microsoft Corp. (MSFT), and Google Inc. (GOOG).
*On Wednesday, January 30, CBOE announced its fourth quarter and year-end un-audited financials for 2007. The fourth quarter of 2007 marked the eighth consecutive quarter of double-digit revenue and earnings growth for CBOE. Total revenues for the quarter were up 43 percent to $93.0 million, from $64.9 million in last year's fourth quarter. Net income for the fourth quarter of 2007 was $24.3 million, a 76 percent increase compared with $13.8 million in the fourth quarter of 2006. For the year ended December 31, 2007, CBOE's net income nearly doubled, climbing to $83.2 million, from $42.1 million in 2006. Total revenues grew 37 percent to a record $352.3 million for the full-year 2007, compared with $258.0 million in the prior year.
*During January, 12 CBOE memberships, or seats, were traded. The first sale of the new year occurred on Wednesday, January 2, at a price of $3,125,000, which was just below the all-time record high price of $3,150,000 on December 11, 2007. The last sale of the month, on January 25, was also for $3.125M.
*Volume at the CBOE Futures Exchange (CFE) was 96,743 contracts traded during January, an increase of 105% over January 2007's volume of 47,121 contracts.Average daily volume was 4,607 contracts, compared to 2,356 contracts per day a year-ago. Monthly volume in CBOE Volatility Index (ticker VX) futures was 85,731 contracts traded, up 91% versus January 2007, while volume in futures on the CBOE DJIA Volatility Index (ticker DV) was 6,545 contracts traded, up 234% over January 2007.
*During January, volume at the CBOE Stock Exchange (CBSX) totaled a new record high of 264,551,471 shares. Average daily volume at CBSX was 12,597,689 shares and a total of 284,654 trades were executed during January. During the month, CBSX experienced the busiest single-day of trading since its launch on March 5, 2007 when 24,351,356 shares traded on Wednesday, January 23, 2008. The previous single-day high had been 17,663,093 shares on December 26, 2007.
CBOE Individual Index and ETF Volume Figures For January 2008
|
Symbol |
Product |
Total Volume |
% Change vs Jan 07 |
% Change vs Dec 07 |
Open Interest |
% Change vs 2007 |
|---|---|---|---|---|---|---|
|
SPX |
S&P 500 Index |
16,507,359 |
+78% |
+56% |
10,702,078 |
+36% |
|
VIX |
CBOE Volatility Index (options) |
2,184,959 |
+250% |
+70% |
930,879 |
+27% |
|
SPY |
Standard & Poor's Depositary Receipts (SPDRs) |
7,923,700 New Record |
+355% |
+65% |
9,371,485 |
+145% |
|
XSP |
Mini-S&P 500 Index |
286,731 |
0% |
+64% |
391,540 |
-60% |
|
OEX |
S&P 100 Index (American-Style Exercise) |
1,296,384 |
+17% |
+50% |
278,236 |
+4% |
|
XEO |
S&P 100 Index
(European-Style Exercise) |
158,982 |
-47% |
-13% |
105,468 |
-34% |
|
DJX |
Dow Jones Industrial Average |
572,865 |
+21% |
+70% |
671,670 |
+2% |
|
DIA |
DIAMONDS Trust, Series 1 |
1,113,628 |
+116% |
+73% |
1,632,701 |
+43% |
|
NDX |
Nasdaq-100 Index |
599,487 |
-21% |
+43% |
555,496 |
-14% |
|
MNX |
CBOE Mini-NDX Index (based on Nasdaq-100) |
469,343 |
+43% |
+35% |
1,677,383 |
-5% |
|
VXN |
CBOE Nasdaq-100 Volatility Index (options) |
233 |
----- |
-66% |
488 |
----- |
|
QQQQ |
PowerShares QQQ Trust |
7,004,335 New Record |
+114% |
+111% |
8,325,656 |
+32% |
|
RUT |
Russell 2000 Index |
1,520,289 New Record |
+486% |
+51% |
1,724,299 |
+153% |
|
RVX |
CBOE Russell 2000 Volatility Index (options) |
3,416 |
----- |
-41% |
1,868 |
----- |
|
IWM |
iShares Russell 2000
Index Fund |
10,256,465 |
+243% |
+74% |
6,759,943 |
+47% |
|
SMH |
Semiconductor HOLDRs Trust |
138,957 |
-7% |
+262% |
582,718 |
-19% |
|
OIH |
Oil Services HOLDRs Trust |
390,577 |
+23% |
+115% |
439,638 |
-25% |
|
EEM |
iShares MSCI Emerging Markets Index |
953,524 |
+464% |
-40% |
1,086,467 |
+220% |
|
XLF |
Financial Select SPDR |
1,643,942 |
+3792% |
+69% |
4,600,337 |
+413% |
|
XLE |
Energy Select SPDR |
445,425 |
+18% |
+78% |
1,389,984 |
+16% |
|
FXI |
iShares FTSE/Xinhua China Index Fund |
132,649 |
+234% |
-66% |
354,007 |
+307% |
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, access the CBOE website at: www.cboe.com/.
