Total contract volume at CBOE year-to-date through June 2008 was up 31 percent to 558 million contracts from 426 million contracts during the same period one year ago.
During June, trading volume in equity options totaled 54.4 million contracts, surpassing 37.5 million contracts traded in June 2007 by 45 percent.Average daily volume in equity options for the month was 2.6 million, an increase of 45 percent over the 1.8 million contracts per day during June 2007.
During the month, average daily volume in ETF options grew 61 percent - to almost 1.4 million contracts - against June 2007. Three ETF options - S&P Depositary Receipts (SPY), Financial Select SPDR (XLF) and Energy Select SPDR (XLE) - set all-time monthly volume records.
In the cash-settled indexes, the Russell 2000 Index option (RUT) also set a record in June - more than 1.5 million contracts changed hands, up 226 percent from June 2007.
|
|
June 2008 Volume (21 days) |
% Change vs June 2007 (21 days) |
% Change vs. May 2008 (21 days) |
Year-To-Date Volume (125 days) |
% Change vs. 2007 (124 days) |
|---|---|---|---|---|---|
|
Industry Total |
304,003,964 |
+36% |
+14% |
1,736,179,540 |
+38% |
|
CBOE Total |
103,301,861 |
+39% |
+21% |
557,759,425 |
+31% |
|
CBOE Total ADV |
4,919,136 |
+39% |
+21% |
4,462,075 |
+30% |
|
Equity |
54,353,772 |
+45% |
+12% |
293,179,709 |
+26% |
|
Equity ADV |
2,588,275 |
+45% |
+12% |
2,345,438 |
+25% |
|
Cash-Settled Index |
20,529,184 |
+7% |
+20% |
115,464,066 |
+9% |
|
Cash-Settled Index ADV |
977,580 |
+7% |
+20% |
923,713 |
+8% |
|
ETF Options |
28,418,624 |
+61% |
+43% |
149,113,640 |
+71% |
|
ETF Options ADV |
1,353,268 |
+61% |
+43% |
1,192,909 |
+70% |
|
Exchange Open Interest |
269,822,394 |
+9% |
+1% |
----- |
----- |
CBOE's June Market Share at 34 Percent Leads Industry
In June, CBOE's market share of total industry volume was 34 percent, up 1.9 percentage points from May 2008.Year to date, CBOE's total market share is 32.1 percent.In equity options, CBOE's June market share was 29.3 percent, up 2.8 percentage points from May.Index and ETF market share was 33.7 percent in June.
|
CBOE Market Share |
June 2008 Market Share |
% Change vs
June 2007 |
% Change vs May 2008 |
Year-To-Date Market Share |
% Change vs 2007 |
|---|---|---|---|---|---|
|
Exchange |
34.0% |
+0.8% |
+1.9% |
32.1% |
-1.7% |
|
Equity |
29.3% |
+3.9% |
+2.8% |
26.2% |
+0.2% |
|
Index & ETF (Multiple listings only) |
33.7% |
-2.3% |
-0.7% |
33.8% |
-5.9% |
June Highlights:
- The top five most actively traded equity options during June were Apple (AAPL), Lehman Brothers (LEH), Citigroup, Inc. (C), Yahoo! Inc. (YHOO), and General Electric (GE).
- The top five most actively traded index and ETF options at CBOE during June were S&P 500 Index (SPX), Standard & Poor's Depositary Receipts (SPY), iShares Russell 2000 Index Fund (IWM), PowerShares QQQ Trust (QQQQ), and Financial Select SPDR (XLF).
- On June 3, CBOE launched trading in options on the SPDR Gold Trust (ticker: GLD). CBOE claimed 50 percent of industry market share in GLD, according to the Options Clearing Corporation - with 238,920 contracts traded.
- On June 2, CBOE reached a tentative agreement in principle regarding the exercise right litigation. The terms of the proposed settlement are subject to execution of a definitive Class Settlement Agreement and its approval by CBOE's Board of Directors, CBOE's membership and the Delaware Court.
- During June, CBOE membership prices hit two all-time highs -- $3.3 million on June 18, eclipsing a record $3.2-million seat sale one day earlier.During June, eight CBOE memberships were traded, and from January through June 77 CBOE seats have changed hands.
- CBOE announced plans to begin trading binary options contracts on the S&P 500 Index (SPX) and on the CBOE Volatility Index (VIX) on July 1. Binary options have just two possible outcomes - a payoff of a set amount or nothing at all. CBOE binary call options pay either $100 per contract if the underlying index settles at or above the strike price at expiration, or nothing at all if the underlying index settles below the strike price at expiration.
- CBOE and the Korea Exchange (KRX) on June 9 signed a Memorandum of Understanding ("MOU").
- Volume at the CBOE Futures Exchange (CFE) totaled 99,464 contracts traded during June, a 22-percent increase over June 2007 volume.For the first six months of 2008, CFE total volume was more than 608,000 contracts, 70 percent greater than the same period in 2007. Monthly volume in VIX futures totaled 93,075 contracts, up 18 percent over the June 2007 volume.
- At the CBOE Stock Exchange (CBSX), June trading volume totaled 260,865,659 million shares, up 416 percent over June 2007 volume of 50,634,353 million shares.June average daily volume at CBSX was 12.4 million shares.
CBOE Individual Index and ETF Volume Figures For June 2008
|
Symbol |
Product |
Total Volume |
% Change vs June 07 |
% Change vs May 08 |
OpenInterest |
% Change vs 2007 |
|---|---|---|---|---|---|---|
|
SPX |
S&P 500 Index |
13,635,093 |
+2% |
+20% |
10,883,034 |
+16% |
|
VIX |
CBOE Volatility Index (options) |
2,255,171 |
+13% |
+16% |
1,124,901 |
-35% |
|
SPY |
Standard & Poor's Depositary Receipts (SPDRs) |
8,217,529 (new record) |
+89% |
+45% |
9,892,315 |
+31% |
|
XSP |
Mini-S&P 500 Index |
292,433 |
+89% |
-1% |
379,737 |
-54% |
|
OEX |
S&P 100 Index (American-Style Exercise) |
919,689 |
-30% |
+16% |
213,920 |
-33% |
|
XEO |
S&P 100 Index
(European-Style Exercise) |
211,136 |
-14% |
+20% |
141,362 |
-2% |
|
DJX |
Dow Jones Industrial Average |
630,593 |
-3% |
+40% |
583,196 |
-7% |
|
DIA |
DIAMONDS Trust, Series 1 |
1,065,199 |
+64% |
+90% |
1,498,626 |
+7% |
|
NDX |
Nasdaq-100 Index |
524,115 |
-5% |
+17% |
459,727 |
-14% |
|
MNX |
CBOE Mini-NDX Index (based on Nasdaq-100) |
407,010 |
+55% |
+28% |
1,250,991 |
-19% |
|
VXN |
CBOE Nasdaq-100 Volatility Index (options) |
351 |
--- |
-22% |
215 |
--- |
|
QQQQ |
PowerShares QQQ Trust |
5,787,135 |
+119% |
+69% |
7,006,907 |
-14% |
|
RUT |
Russell 2000 Index |
1,527,829 (new record) |
+226% |
+27% |
1,899,930 |
+23% |
|
RVX |
CBOE Russell 2000 Volatility Index (options) |
4,502 |
--- |
-26% |
3,866 |
--- |
|
IWM |
iShares Russell 2000
Index Fund |
5,823,848 |
-19% |
+17% |
7,284,066 |
-17% |
|
SMH |
Semiconductor HOLDRs Trust |
140,123 |
-43% |
+106% |
662,191 |
-30% |
|
OIH |
Oil Services HOLDRs Trust |
221,148 |
-20% |
-14% |
476,657 |
-48% |
|
EEM |
iShares MSCI Emerging Markets Index |
684,734 |
+28% |
-6% |
1,725,389 |
+132% |
|
XLF |
Financial Select SPDR |
2,719,888 (new record) |
+598% |
+95% |
6,531,277 |
+193% |
|
XLE |
Energy Select SPDR |
1,240,084 (new record) |
+399% |
+51% |
2,770,785 |
+139% |
|
GLD |
SPDR Gold Trust |
238,920 (first month) |
--- |
--- |
249,146 |
--- |
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/.
