The Options Insider

CBOE’s Year-to-Date ADV Up 18 Percent

by | Jun 2, 2014 | Industry

On Monday, CBOE Holdings, Inc. (NASDAQ: CBOE) reported that May 2014 trading volume for options contracts on Chicago Board Options Exchange??(CBOE?) and C2 Options ExchangeSM?(C2SM) and futures contracts on CBOE Futures ExchangeSM?(CFE?) totaled 97.08 million contracts.

Average daily volume (ADV) was 4.62 million contracts, a one-percent decrease from May 2013 and a nine-percent decrease from April 2014.

CBOE Holdings’ year-to-date ADV through May was 5.31 million contracts, an increase of 18 percent from the same period one year ago.

CBOE May Trading Volume and Market Share

CBOE?Trading Volume

  • CBOE’s ADV was 4.21 million contracts, a three-percent decrease from May 2013 and a nine-percent decrease from April 2014.
  • Index options ADV was 1.46 million contracts, a five-percent decrease from May 2013 and even with April 2014.
  • Equity options ADV was 1.68 million contracts, a six-percent increase from May 2013 and an 11-percent decrease from April 2014.
  • Exchange traded product (ETP) options ADV was 1.08 million contracts, an 11-percent decrease from May 2013 and a 16-percent decrease from April 2014.
  • The five most actively traded index and ETP options at CBOE in May were S&P 500??Index (SPX), CBOE Volatility Index??(VIX Index?), Standard & Poor’s Depositary Receipt (SPY), iShares Trust – Russell 2000??Index Fund (IWM) and PowerShares QQQ Trust (QQQ).

CBOE Market Share

CBOE’s market share of total U.S. options industry volume was 28.0 percent, an increase of 3.4 percentage points from May 2013 and an increase of 0.8 of a percentage point from April 2014

C2 May Trading Volume and Market Share

C2 Trading Volume

C2’s trading volume totaled 5.62 million contracts while ADV was 267,600 contracts, a 32-percent decrease from May 2013 and a 14-percent decrease from April 2014.

C2 Market Share

C2 market share of total industry volume was 1.8 percent, a 0.6-percentage-point decrease from May 2013 and even with April 2014.

CFE May Trading Volume and Highlights

  • VIX futures volume totaled 3.02 million contracts.?
  • VIX futures ADV was 143,946 contracts, a one-percent decrease from May 2013 and a 19-percent decrease from April 2014.?
  • Year-to-date through May, VIX futures total volume of 19.14 million contracts is 16 percent ahead of the prior year period, and ADV of 185,837 contracts per day is 17 percent ahead of the prior year period.
  • CFE plans to expand VIX futures trading hours to nearly 24 hours a day, five days a week, beginning Sunday, June 22, 2014, pending regulatory review.? The trading week for VIX futures at CFE will begin each Sunday at 5:00 p.m. CT and end on Friday at 3:15 p.m. CT.? CFE will close for 15 minutes between 3:15 p.m. CT and 3:30 p.m. CT on Monday through Thursday, when no trading will be transacted. The new trading day on those days will then begin at 3:30 p.m. CT.