On Thursday, weeklys options on the S&P 500 Index hit?391,856 options traded.?
According to CBOE’s Matt Moran in a blog post, “Weeklys options can provide opportunities for investors to implement more targeted buying, selling or spreading strategies. Weeklys options can help investors efficiently take advantage of market events, such as earnings, government reports and Fed announcements.”
In November, SPX Weekly options had a record volume month with its 161,116 average daily volume and then hit its record volume on Wednesday.?
Along with the volume news, Moran noted this?week that the trading venue for SPXpm options had been changed from C2 to the CBOE where SPXpm now trades on CBOE?s Hybrid platform; this incorporates both electronic and open outcry trading.
By migrating SPXpm to CBOE, increased access is expected and liquidity will follow as the product will be exposed to a greater user base, wrote Moran. Another expected result is the simplification of spread trading and the rolling of p.m.-settled S&P 500? options (including SPX Weeklys) from one week to the next.?