The Chicago Board Options Exchange (CBOE) today announced that daily trading volume in May averaged five million contracts, up 22 percent compared to average daily volume (ADV) of 4.1 million contracts in May 2008 and down one percent from April 2009.During its most active May ever, Exchange volume totaled nearly 100 million contracts, a 16-percent increase over 85.6 million contracts traded in May 2008.May was the third month in a row in which CBOE established a volume record versus the same month in past years.
In May, 58.5 million equity options contracts changed hands at CBOE, up 20 percent compared with 48.6 million contracts traded in May one year ago. Equity options average daily trading volume for the month was 2.9 million contracts, a 26-percent jump over May 2008 ADV of 2.3 million contracts.ETF options monthly volume totaled 23.9 million contracts, 20 percent ahead of 19.8 million contracts in May 2008. ETF average daily volume rose 26 percent to 1.2 million contracts from 945,000 one year ago.Nearly 16.8 million cash-settled index options were traded in May; this translates to an average daily volume of about 838,000 contracts, up three percent from May 2008.Expanded information on May index and ETF options volume is available at
http://www.cboe.com/data/monthlyvolume.aspx.
CBOE's year-to-date trading volume through May totaled 477.4 million contracts, a five-percent increase over the 454.5 million contracts traded during the same five-month period in 2008.Year-to-date ADV was 4.7 million contracts, a seven-percent increase over January through May 2008 when volume averaged 4.4 million contracts daily.
|
May 2009 Volume (20 days) |
% Change vs May 2008 (21 days) |
% Change vs April 2009 (21 days) |
Year-To-Date Volume (102 days) |
% Change vs 2008 (104 days) |
---|---|---|---|---|---|
Industry Total |
314,799,038 |
18% |
-3% |
1,499,660,142 |
5% |
CBOE Total |
99,170,627 |
16% |
-6% |
477,444,694 |
5% |
CBOE Total ADV |
4,958,531 |
22% |
-1% |
4,680,830 |
7% |
Equity |
58,541,002 |
20% |
-9% |
271,546,974 |
14% |
Equity ADV |
2,927,050 |
26% |
-4% |
2,662,225 |
16% |
Cash-Settled Index |
16,764,976 |
-2% |
-5% |
88,191,257 |
-7% |
Cash-Settled Index ADV |
838,249 |
3% |
-1% |
864,620 |
-5% |
ETF Options |
23,863,692 |
20% |
3% |
117,701,762 |
-2% |
ETF Options ADV |
1,193,185 |
26% |
9% |
1,153,939 |
-1% |
Exchange Open Interest |
253,024,474 |
-5% |
10% |
--- |
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CBOE's Market Share at 31.5% in May and 31.8% YTD Leads Industry
CBOE's market share of total industry volume in May was 31.5 percent, down 0.6 of a percentage point from May 2008 and 0.9 of a percentage point from April 2009.CBOE claimed a 90.2-percent market share in cash-settled index options, up 3.2 percentage points from May a year ago and up 0.6 of a percentage point from April 2009.CBOE market share for equity options during the month totaled 27.5 percent, up 0.9 of a percentage point from May 2008 and down 1.9 percentage points from April.ETF options market share was 28.7 percent in May, down 2.4 percentage points from May 2008 and up 1.8 percentage points from April 2009.
CBOE Market Share |
May 2009 Market Share |
% Pt. Change vs May 2008 |
% Pt. Change vs Apr 2009 |
Year-To-Date Market Share |
% Pt. Change vs 2008 |
---|---|---|---|---|---|
Exchange |
31.5% |
-0.6% |
-0.9% |
31.8% |
0.1% |
Equity |
27.5% |
0.9% |
-1.9% |
28.4% |
2.9% |
Index |
90.2% |
3.2% |
0.6% |
90.6% |
3.4% |
ETF |
28.7% |
-2.4% |
1.8% |
26.3% |
-4.7% |
May Highlights
-The top five most actively traded equity options during May were Citigroup (C), Bank of America Corporation (BAC), General Motors (GM), General Electric (GE) and Wells Fargo & Company (WFC).
-The top five most-actively traded index and ETF options at CBOE during May were S&P 500 Index (SPX), Standard & Poor's Depositary Receipts (SPY), PowerShares QQQ Trust (QQQQ), iShares Russell 2000 Index Fund (IWM), and the CBOE Volatility Index (VIX).
-During May, one CBOE membership changed hands at $1.77 million, the highest seat price recorded thus far in 2009.Year to date 11 CBOE seats have changed hands.
-The CBOE Futures Exchange, LLC (CFE) announced that average daily volume during May totaled 2,836 contracts, an increase of 28 percent from 2,220 contracts traded during April 2009.Total trading volume during May 2009 was 56,728 contracts, 22 percent ahead of the previous month when 46,624 contracts changed hands.Compared to a year ago, May 2009 total volume fell 52 percent from 119,327 contracts traded in May 2008, the busiest May ever at CFE.Average daily volume during the month was off 50 percent versus 5,679 contracts per day during the same month last year.May was the most active trading month of 2009 and the busiest since last October.
-At the CBOE Stock Exchange (CBSX), May trading volume totaled 412.3 million shares, up 204 percent from May 2008 volume of 201.7 million shares.May average daily volume at CBSX was 20.6 million shares, and a total of more than 533,000 trades were executed during the month.
Chicago Board Options Exchange (CBOE), the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX), the world's barometer for market volatility. Other groundbreaking products engineered by CBOE include equity options, security index options, LEAPS, FLEX options, and benchmark products such as the CBOE BuyWrite Index (BXM). CBOE's Hybrid Trading System incorporates electronic and open-outcry trading, enabling customers to choose their trading method.CBOE's Hybrid is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports the CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named "Best of the Web" for options information and education.