The Options Insider

CBOE Reports March ADV Down 9 Percent Year-Over-Year

by | Apr 2, 2013 | Industry

CBOE Holdings, Inc. (NASDAQ:?CBOE) reported that March trading volume for options contracts on?Chicago?Board Options Exchange?, Incorporated (CBOE?) and?C2 Options Exchange?(C2SM) and futures contracts on?CBOE Futures Exchange, LLC?(CFE?) totaled 89.81 million contracts.

March average daily volume (ADV) was 4.49 million contracts, up three percent from February’s 4.38 million contracts but down nine percent from March 2012’s 4.93 million contracts.?

Here’s a look at CBOE’s March trading volume and market share highlights:

  • March 2013?ADV was 4.04 million contracts, up two percent from?February’s 3.95 million ADV contracts but down 13 percent from March 2012’s ADV of 4.62 million contracts.
  • The five most actively traded index and ETP options were S&P 500??Index (SPXSM) options, CBOE Volatility Index??(VIX??Index) options, Standard & Poor’s Depositary Receipt (SPY) options, iShares Trust – Russell 2000?Index Fund?(IWM) options and iPath S&P 500 VIX Short-Term Futures ETN (VXX) options.
  • The five most actively traded equity options included Bank of America (BAC), Apple (AAPL), Blackberry (BBRY), Facebook (FB), and Citigroup (C).
  • CBOE?market share of total U.S. options industry volume was 25.9 percent in?March 2013, up 2.5 percentage points from?February but down 1.1 percentage points from?March 2012. If the volume from dividend trades was excluded from industry data for March, the Exchange’s total market share would be 26.7 percent.
  • Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in the options business.

Here’s a look at March C2 trading volume and market share:

  • C2 volume totaled 5.78 million contracts.
  • ADV was 289,000 contracts, up 29 percent from?March 2012’s 223,300 ADV contracts and up 10 percent from?February’s ADV of 263,100 contracts.
  • C2 market share of total industry volume in?March was 1.9 percent, up 0.6 of a percentage point from the previous year and up 0.3 of a percentage point from February.?

And on a final note, here’s CBOE Futures Exchange March trading volume highlights:

  • VIX futures hit a new monthly total volume record in March with 3,220,977 contracts, ?surpassing February’s record by five percent when 3,062,344 contracts traded.
  • VIX futures ADV?of 161,049 contracts was shy of February’s record ADV at 161,176 contracts. ??