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Volume Increases 14% To 61.3 Million - Average Daily Volume Tops 3.0 Million Contracts, Second Highest In CBOE History

Date 01/02/2007

The Chicago Board Options Exchange (CBOE) announced today that January volume totaled 61.3 million contracts, an increase of 14% over January 2006's volume of 53.9 million contracts. Average daily volume for the month was 3.1 million contracts, up 14% over January 2006's average daily volume of 2.7 million contracts, and just shy of the record 3.2 million average daily volume set in May, 2006.


Total
Volume
Jan 2007
Volume
(20 days)
 % Change vs Jan 2006(20 days)
 % Change vs Dec 2006
(20 days)
 Year-To-Date Volume
(20 days)
 % Change vs 2006
(20 days)
Industry Total
 197,577,509
 +11%
 +16.3%
 197,577,509
 +11%






CBOE Total
 61,319,060
 +13.8%
 +15.8%
 61,319,060
 +14%
Avg Daily Vol
 3,065,953
 +13.8%
 +15.8%
 3,065,953
 +14%
Equity
 37,454,543
 +6.9%
 +19.3%
 37,454,543
 +7%
Index & ETF
 23,864,073
 +26.5%
 +10.6%
 23,864,073
 +27%
ETF (only)
 10,262,217
 +38.9%
 +18.1%
 10,262,217
 +39%
Open Interest
 176,867,438
 +26.2%
 -21.9%
 176,867,438
 +26%


CBOE Is Options Market Leader with 31.0% Market Share

CBOE maintained its lead position with 31.0% market share of total industry volume, an increase of 0.8% over January 2006, but down slightly from December 2006. CBOE's market share in multiply listed index and ETF options continued to increase, with 40.9% market share, an increase of 2.7% from last month.


CBOE Market Share
 Jan 2007 Market Share
 % Change vs
Jan 2006
 % Change vs
Dec 2006
 Year-To-Date Market Share
 % Change vs 2006
Exchange
 31.0%
 +0.8%
 -0.1%
 31.0%
 +0.8%
Equity
 24.4%
 -0.1%
 -0.1%
 24.4%
 -0.1%
Index & ETF
(multiple listings only)
 40.9%
 +1.9%
 +2.7%
 39.1%
(last 12 months)
 +0.4%


CBOE Index Options Volume Rises 26% Mini-SPX Index Options Set New Single-Day Record
  • In January, volume in equity options totaled 37,454,543 million contracts, an increase of 7% over January 2006's volume of 35,021,674 contracts. The top five most actively traded equity options during the month were: Apple Computer, Inc. (AAPL), Google Inc. (GOOG), Intel Corporation (INTC). Microsoft Corp. (MSFT) and Yahoo! Inc. (YHOO).
    •

  • Total volume in index and exchange traded fund (ETF) options during January was 23,864,073 million contracts traded, up 26.5% over January 2006's volume of 18,869,425 contracts. The top five most-actively traded index and ETF options at CBOE during January were: S&P 500 Index (SPX), Nasdaq-100 Index Tracking Stock (QQQ), iShares Russell 2000 Index Fund (IWM), Standard & Poor's Depositary Receipts (SPY), S&P 100 Index (OEX), Nasdaq-100 Index (NDX), CBOE Volatility Index (VIX), DIAMONDS Trust, Series 1 (DIA), Dow Jones Industrial Average Index (DJX) and Energy Select SPDR (XLE).
    •

  • Mini-SPX Index options (XSP) set a new single-day volume record when 118,862 contracts traded on Friday, January 26, topping the previous high of 54,115 contracts traded on January 18, 2006.For the month of January, volume in XSP options totaled 285,815 contracts, an increase of 24% over January 2006's total of 229,579 contracts.


  • CBOE continued to add index options to the CBOE Hybrid Trading System, with the addition this month of the Nasdaq-100 Index (NDX) options on January 9th and S&P 100 Index with European-Style Exercise (XEO) options on January 30th.
    •

  • On Friday, January 26th, CBOE successfully launched its penny pilot program, quoting and trading options in penny increments for the first time, in Whole Food Market, Inc. (WFMI) options. On Friday, February 2nd, CBOE will expand the pilot program to include options on General Electric (GE) and Microsoft Corporation (MSFT).
    •

  • During January, a total of six CBOE seats traded, including five at an all-time record high price of $1,900,000.
    •


    CFE's January Volume Rises 91% Over Year-Ago; Average Daily Volume of 2,356 Contracts Is Third Highest on Record at CFE

    CBOE Futures Exchange, LLC (CFE) posted strong volume in January as 47,121 contracts traded, a rise of 91% over January 2006's volume of 24,668 contracts. Trading during January was the fourth highest monthly volume total to date at CFE. Average daily volume was 2,356 contracts, the third highest total on record at CFE. At month's end, total open interest stood at 38,451 contracts, up 79% over the end of January 2006.

    During January, total volume in VX futures, based on the CBOE Volatility Index (VIX), tallied 44,927 contracts, while volume in futures on the CBOE Dow Jones Industrial Average Volatility Index (DV) was 1,959 contracts . At the end of the month, open interest in VX futures stood at 36,432 contracts and open interest in DV futures was 1,446 contracts.


    CFE
    Total Volume
    		 Jan 2007 Volume
    		 % Change vs
    Jan 2006
    		 % Change vs
    Dec 2006
    		 Year-To-Date
    Volume
    		 % Change vs 2006
    Exchange
    		 47,121
    		 +91%
    		 +9%
    		 47,121
    		 +91%
    Avg Daily Vol
    		 2,356
    		 +91%
    		 +9%
    		 2,356
    		 +91%
    Open Interest
    		 38,451
    		 +79%
    		 +7.5%
    		 --
    		 --


    CBOE Individual Index Volume Figures For January 2007


    Symbol
    		 Product
    		 Total
    Volume
    		 % Change vs Jan 06
    		 % Change vs Dec 06
    		 Open Interest
    		 % Change vs 2006
    SPX

    		 S&P 500 Index
    		 9,273,114
    		 +30%
    		 +2%
    		 7,881,703
    		 +16%
    XSP

    		 Mini-S&P 500 Index
    		 285,815
    		 +24%
    		 +40%
    		 981,728
    		 +2%
    SPY
    		 Standard & Poor's Depositary Receipts (SPDRs)
    		 1,741,418
    		 +58%
    		 +5%
    		 3,828,940
    		 +47%
    VIX
    		 CBOE Volatility Index
    (options)
    		 624,829
    		 NA
    		 +11%
    		 734,864
    		 +5%
    from Dec.
    OEX

    		 S&P 100 Index
    (American-Style Exercise)
    		 1,105,401
    		 -26%
    		 +3%
    		 268,381
    		 -21%
    XEO

    		 S&P 100 Index
    (European-Style Exercise)
    		 297,714
    		 +56%
    		 +30%
    		 159,398
    		 +158%
    DJX

    		 Dow Jones Industrial Average
    		 474,459
    		 -35%
    		 +3%
    		 657,121
    		 -8%
    DIA

    		 DIAMONDS Trust, Series 1
    		 515,674
    		 -26%
    		 +29%
    		 1,140,240
    		 +13%
    NDX

    		 Nasdaq-100 Index
    		 754,738
    		 +2%
    		 +42%
    		 649,492
    		 -2%
    MNX

    		 CBOE Mini-NDX Index
    (based on Nasdaq-100)
    		 329,258
    		 -48%
    		 -2%
    		 1,772,972
    		 -2%
    QQQ

    		 Nasdaq-100 Index
    Tracking Stock
    		3,270,155
    		 +8%
    		 +52%
    		 6,309,814
    		 +21%
    RUT
    		 Russell 2000 Index

    		 259,462
    		 +52%
    		 +32%
    		 680,251
    		 +170%
    IWM

    		 iShares Russell 2000
    Index Fund
    		 2,992,680
    		 +107%
    		 -4%
    		 4,613,614
    		 +77%
    SMH

    		 Semiconductor HOLDRs Trust
    		 148,666
    		 -26%
    		 4%
    		 717,727
    		 -9%
    OIH

    		 Oil Services HOLDRs Trust
    		 318,564
    		 55%
    		 +38%
    		 587,767
    		 +42%
    XLE

    		 Energy Select SPDR
    		 377,587
    		 +31%
    		 +73%
    		 1,201,423
    		 +2%



    CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the CBOE website at: http://www.cboe.com/.
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