WCE Sees Significant Option Trade For The Month Of September

Total options volume for the month of September was 43.0% higher than the 4,856 contracts recorded for the same month a year ago, while crop year-to-date volume in total options was up 102.6% over the same period. Total open interest in options, as of September 30, 2001, was up 49.5% compared to year-ago totals. Increases in canola and feed wheat options led to the overall higher figures for options open interest levels in September.

Monthly volumes in canola options continued to show substantial increases over year-ago levels up 119.1% at 6,828 contracts in September. Crop year-to-date volume in canola options was 18,554 contracts, 168.8% ahead of the pace set last year, while open interest levels in canola options increased in the month of September to 27,582 contracts, compared to 16,053 contracts on September 30, 2000.

Pit trade in canola futures declined slightly from a year ago, totaling 130,691 contracts, compared to 146,890 contracts in 2000. However, crop year-to-date canola volume was up 16.0% at 276,857 contracts compared to the same period in 2000. Open interest levels in canola futures also witnessed an increase of 9.3% in the month of September to 70,674 contracts, compared to 64,684 contracts on September 30, 2000.

Overall, activity in futures trade for the month of September decreased 18.0% over year-ago totals. Crop year-to-date futures volume was 347,015 contracts, 8.6% ahead of the pace set one year earlier, while total futures open interest, as of September 30, 2001, was up 4.5% compared to year-ago totals.

Total combined futures and options pit trade for the month declined slightly, down 16.5% to 173,544 contracts compared to September 2000. Total futures and options crop year-to date volume reached 365,985 contracts, compared to 328,981 contracts at the same time in the 2000/01 crop-year. Total futures and options open interest levels saw an 11.9% increase as of September 30, 2001 well ahead of the pace set one year earlier. This is mainly due to increases in both canola and feed wheat open interest levels.

The WCE was closed for two unexpected days following the terrorist attacks in the United States on September 11, 2001. The closure of the Exchange is partly responsible for the lower figures in this month's volume levels. September 2000 had 20 full trading days while September 2001 saw only 17 full trading days for the month. The loss of these three trading days this month have contributed to the lower futures and options totals for the month of September 2001.