.jpg)
Total contracts traded at CBOE year-to-date through May 2008 were up 29 percent to 454,457,564 contracts from 351,629,603 contracts one year ago.
During May, trading volume in equity options totaled 48,646,266 contracts, surpassing 43,496,845 contracts traded in May 2007 by 12 percent.Average daily volume in equity options for the month was 2,316,489 contracts traded per day, an increase of 17 percent over the 1,977,129 contracts per day during May 2007.
|
|
May 2008 Volume (21 days) |
% Change vs May 2007 (22 days) |
% Change vs. April 2008 (22 days) |
Year-To-Date Volume (104 days) |
% Change vs. 2007 (103 days) |
|---|---|---|---|---|---|
|
Industry Total |
266,870,046 |
+16% |
-5% |
1,432,175,576 |
+23% |
|
CBOE Total |
85,616,975 |
+10% |
-1% |
454,457,564 |
+29% |
|
CBOE Total ADV |
4,076,999 |
+16% |
+4% |
4,369,784 |
+28% |
|
Equity |
48,646,266 |
+12% |
+1% |
238,825,937 |
+22% |
|
Equity ADV |
2,316,489 |
+17% |
+5% |
2,296,403 |
+21% |
|
Cash-Settled Index |
17,126,985 |
-9% |
-4% |
94,934,882 |
+10% |
|
Cash-Settled Index ADV |
815,571 |
-5% |
0% |
912,835 |
+8% |
|
ETF Options |
19,843,588 |
+30% |
-1% |
120,695,016 |
+73% |
|
ETF Options ADV |
944,933 |
+36% |
+4% |
1,160,529 |
+72% |
|
Exchange Open Interest |
267,421,977 |
+10% |
+8% |
----- |
----- |
CBOE's May Market Share at 32.1 Percent Leads Industry
In May, CBOE's market share of total industry volume was 32.1 percent, up 1.5 percentage points from April 2008.Year to date, CBOE's total market share is 31.7 percent.In equity options, CBOE's May market share was 26.5 percent, up 1.3 percent from the previous month.Index and ETF market share was 34.4 percent in May, up 3.1 percentage points from last month.
|
CBOE Market Share |
May 2008 Market Share |
% Change vs
May 2007 |
% Change vs April 2008 |
Year-To-Date Market Share |
% Changevs 2007 |
|---|---|---|---|---|---|
|
Exchange |
32.1% |
-1.8% |
+1.5% |
31.7% |
-2.3% |
|
Equity |
26.5% |
0% |
+1.3% |
25.6% |
-0.5% |
|
Index & ETF (Multiple listings only) |
34.4% |
-3.9% |
-3.1% |
34.0% (Last 12 months) |
-6.3% |
May Highlights: Volume in SPY Rises 97%; VIX Options Up 24%, CBOE Signs Agreement with 3D for Options Block Trading/Pricing Methodology
- The top five most actively traded equity options during May were Yahoo (YHOO), Apple (AAPL) Citigroup, Inc. (C), General Electric (GE) and Research in Motion (RIMM).
- 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), iShares Russell 2000 Index Fund (IWM), PowerShares QQQ Trust (QQQQ), and the CBOE Volatility Index (VIX).
- Total volume for the month in SPY options was 5,659,474 contracts, up 97 percent over May 2007 volume of 2,865,882 contracts.Average daily volume was 269,499 contracts in May 2008, up 107 percent as compared to the 130,267 contracts per day a year ago.
- On May 20, CBOE announced it had signed an agreement with 3D Markets, Inc., a block options crossing network.The exclusive agreement, when approved by the Securities and Exchange Commission, will allow CBOE to match large institutional buy and sell options orders electronically during a special matching session; the execution price subsequently will be determined at the end of the trading day, using a methodology known as "GWAPTM" pricing (Gamma Weighted Average Price), similar to Value Weighted Average Price (VWAP) used extensively in the securities market. Under the agreement, the CBOE will provide the regulatory framework necessary for option benchmark trades. The GWAP (Gamma Weighted Average Price) auction and pricing methodologies will be proprietary to CBOE.
- During May, nine CBOE memberships, or seats, changed hands.For the month, the highest seat price was $2,850,000 on May 14 and May 28, 2008.For the year, a total of 69 CBOE seats have been traded, with the high being $3,125,000 on January 2, 2008.
- Volume at the CBOE Futures Exchange (CFE) totaled 119,271 contracts traded during May, an increase of 47 percent over May 2007 volume of 81,006 contracts.Average daily volume was 5,679 contracts.Monthly volume in VIX futures totaled 113,407 contracts traded, up 44 percent over the May 2008 volume of 78,716 contracts.
- At the CBOE Stock Exchange (CBSX), May trading volume totaled 201.7 million shares traded, up 478% over May 2007 volume of 34.9 million shares.May average daily volume at CBSX was 9.6 million shares, and a total of 274,915 trades were executed during the month.
CBOE Individual Index and ETF Volume Figures For May 2008
|
Symbol |
Product |
Total Volume |
% Change vs May 07 |
% Change vs April 08 |
OpenInterest |
% Change vs 2007 |
|---|---|---|---|---|---|---|
|
SPX |
S&P 500 Index |
11,350,116 |
-15% |
-7% |
11,941,269 |
+12% |
|
VIX |
CBOE Volatility Index (options) |
1,940,083 |
+24% |
-3% |
1,042,050 |
-25% |
|
SPY |
Standard & Poor's Depositary Receipts (SPDRs) |
5,659,474 |
+97% |
+3% |
10,111,818 |
+51% |
|
XSP |
Mini-S&P 500 Index |
294,347 |
+300% |
+20% |
414,413 |
-54% |
|
OEX |
S&P 100 Index (American-Style Exercise) |
794,979 |
-36% |
-6% |
253,433 |
-27% |
|
XEO |
S&P 100 Index
(European-Style Exercise) |
175,381 |
-4% |
-18% |
134,870 |
+47% |
|
DJX |
Dow Jones Industrial Average |
450,156 |
-42% |
-11% |
733,018 |
-18% |
|
DIA |
DIAMONDS Trust, Series 1 |
560,774 |
-29% |
-12% |
1,295,954 |
-10% |
|
NDX |
Nasdaq-100 Index |
448,751 |
-39% |
+4% |
496,561 |
-31% |
|
MNX |
CBOE Mini-NDX Index (based on Nasdaq-100) |
318,480 |
+4% |
0% |
1,591,755 |
-20% |
|
VXN |
CBOE Nasdaq-100 Volatility Index (options) |
451 |
----- |
+205% |
385 |
----- |
|
QQQQ |
PowerShares QQQ Trust |
3,418,856 |
+5% |
-6% |
6,650,442 |
-24% |
|
RUT |
Russell 2000 Index |
1,202,714 |
+152% |
+14% |
1,852,296 |
+28% |
|
RVX |
CBOE Russell 2000 Volatility Index (options) |
6,094 |
----- |
-18% |
4,636 |
----- |
|
IWM |
iShares Russell 2000
Index Fund |
4,998,123 |
-17% |
+9% |
7,059,165 |
-6% |
|
SMH |
Semiconductor HOLDRs Trust |
67,948 |
-35% |
-43% |
621,989 |
-38% |
|
OIH |
Oil Services HOLDRs Trust |
256,197 |
-22% |
-8% |
488,616 |
-45% |
|
EEM |
iShares MSCI Emerging Markets Index |
731,087 |
+53% |
-7% |
1,988,364 |
+114% |
|
XLF |
Financial Select SPDR |
1,393,188 |
+509% |
-25% |
6,322,969 |
+251% |
|
XLE |
Energy Select SPDR |
819,397 |
+178% |
+21% |
2,438,960 |
+56% |
|
FXI |
iShares FTSE/Xinhua China Index Fund |
76,126 |
-33% |
-28% |
376,672 |
+82% |
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/.
