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CBOE Reports October 2010 Trading Volume

CHICAGO, Nov. 1, 2010 /PRNewswire/ -- The Chicago Board Options Exchange (CBOE) today reported that average daily volume (ADV) in October was 4.3 million contracts.  

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October's ADV was a six-percent decline from the 4.6 million contracts per day in October 2009 and a 14-percent increase over September 2010 ADV of 3.8 million contracts.  

Year-to-date ADV of 4.5 million contracts through October was down two percent compared with the same period in 2009.

Product-by-product comparisons:

Index optionsOctober 2010 ADV was over one million contracts, up four percent from nearly 991,000 contracts per day in October 2009 and up three percent from  September 2010's ADV of roughly one million contracts. Year-to-date index option ADV of 1.1 million contracts was up 26 percent from the same period in 2009.

Equity optionsOctober 2010 ADV was 2.3 million contracts, down 12 percent from 2.6 million contracts per day in October 2009 and up 23 percent from just under 1.9 million contracts per day in September 2010.  Year-to-date equity option ADV of 2.3 million contracts was down 12 percent from the same period in 2009.

ETF optionsOctober 2010 ADV was just over one million contracts, down two percent from similar ADV in October 2009 and up ten percent from 918,000 contracts per day in September 2010. Year-to-date ETF option ADV of 1.1 million contracts was up two percent from the same period in 2009.


Current Month

Year-To-Date



(trades in thousands)

October 2010

October 2009

%   Chg

September 2010

%    Chg

October 2010

October 2009

%    Chg

Trading Days

21

22


21


209

210


Total Exchange

90,943.1

101,810.1

-11%

79,482.7

14%

939,047.8

958,686.5

-2%

Total Exchange ADV

4,330.6

4,627.7

-6%

3,784.9

14%

4,493.1

4,565.2

-2%

Equity Options

48,058.9

57,313.0

-16%

39,129.8

23%

476,209.4

544,904.0

-13%

Equity Options ADV

2,288.5

2,605.1

-12%

1,863.3

23%

2,278.5

2,594.8

-12%

Index Options

21,720.6

21,797.6

0%

21,077.7

3%

228,710.5

182,823.8

25%

Index Options ADV

1,034.3

990.8

4%

1,003.7

3%

1,094.3

870.6

26%

ETF Options

21,163.5

22,699.5

-7%

19,275.0

10%

234,125.5

230,953.0

1%

ETF Options ADV

1,007.8

1,031.8

-2%

917.9

10%

1,120.2

1,099.8

2%




Expanded October volume information for index and ETF options is available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Overall Market Share:

CBOE's market share of total U.S. options industry volume in October was 26.6 percent, up 0.3 of a percentage point from September 2010 and a 4.2-percentage-point decline from October 2009.  If the volume from dividend trades was excluded from CBOE's data for October 2010, the Exchange's total market share for October would increase to 28.4 percent from 26.6 percent, an increase of 1.8 market share points. CBOE's year-to-date market share through October was 29.3 percent. If volume from dividend trades was excluded, year-to-date market share would be 30.4 percent. Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in the options business.

  • CBOE October market share by product:
    • Index options – CBOE's market share was 95.2 percent, up 0.8 of a percentage point from September  2010 and up 2.9 percentage points from October 2009.
    • Equity options – CBOE's market share was 22.1 percent, up 0.2 of a percentage point from September  2010 and down 4.5 percentage points from October 2009.
    • ETF options – CBOE's market share was 20.8 percent, up 1.8 percentage points from September  2010 and down 4.1 percentage points from October 2009.


Current Month

Year-To-Date


October

2010

October 2009

% pt. Chg

September 2010

% pt. Chg

October 2010

October 2009

% pt. Chg

Total Exchange

26.6%

30.8%

-4.2%

26.3%

0.3%

29.3%

31.4%

-2.1%

Total Exchange
(excluding dividend trades)

28.4%

31.5%

-3.1%

27.5%

0.9%

30.4%

32.3%

-1.9%

Equity Options

22.1%

26.6%

-4.5%

21.9%

0.2%

24.6%

27.9%

-3.3%

Index Options

95.2%

92.3%

2.9%

94.4%

0.8%

93.7%

91.0%

2.7%

ETF Options

20.8%

24.9%

-4.1%

19.0%

1.8%

22.8%

25.8%

-3.0%




Average Transaction Fee Per Contract:

The company will report its average transaction fee per contract for the three months ended September 30, 2010, in conjunction with its quarterly earnings news release, which will be issued on Thursday, November 4.  This information also will be posted to the Investor Relations section of CBOE's web site under Financial Information, Supplemental Information.

October Highlights for CBOE Holdings, Inc.:

  • On October 13, CBOE Holdings, Inc. (NASDAQ: CBOE) launched two concurrent tender offers for 6,648,570 shares of its class A-1 common stock and for 6,648,570 shares of its class A-2 common stock, each at a price of $22.50 per share. The tender offers are scheduled to expire on Friday, November 12.
  • C2 Options Exchange, Inc., CBOE Holdings' new all-electronic options alternative, opened for trading on Friday, October 29. On C2's first day of trading, with Ford Motor Company (F) the initial class listed for trading, 657 contracts changed hands.  Additional classes will be added on a measured rollout on Tuesdays and Thursdays, except on expiration weeks, over a period of several weeks.  C2 eventually plans to list all or substantially all of the most active option classes and series in the penny pilot and will announce additional option classes as the rollout progresses.   C2 will be capable of trading all CBOE products, including S&P 500 Index options (SPX), which are planned for a first quarter 2011 launch. See available series for each class and series additions at http://www.C2exchange.com
  • At CBOE Futures Exchange (CFE):  October 2010 marked the second busiest month in CFE's history and the thirteenth consecutive month in which total CFE volume registered an increase compared with year-over-year trading activity.  October trading volume totaled just under 480,000 contracts, compared to 188,000 contracts in October 2009.  Average daily volume (ADV) of nearly 23,000 contracts during October exceeded the year-ago ADV of over 8,500 contracts.  When compared to 18,450 contracts per day during September 2010, ADV in October rose 24 percent. Also in October, CFE announced that R.J. O'Brien (RJO), the largest independent futures brokerage firm in the U.S., became a clearing member on the Exchange.
  • At CBOE Stock Exchange (CBSX): October 2010 volume was the third highest monthly volume in the Exchange's history with 741.9 million shares traded (ADV 35.3 million shares), surpassed only by the August 2010 all-time monthly record of 1,077,548,251 shares, and September's 812.8 million shares traded. By comparison, in October 2009, 255.8 million shares (ADV 11.6 million shares) changed hands.
  • The top five most actively traded index and ETF options at CBOE were the S&P 500 Index (SPX), Standard and Poor's Depositary Receipts (SPY), CBOE Volatility Index (VIX), PowerShares QQQ Trust (QQQQ), and SPDR Gold Trust (GLD).
  • The top five most actively traded equity options at CBOE were Citigroup (C), Bank of America (BAC), Apple (AAPL), Microsoft Corporation (MSFT), and Baidu, Inc. ADS (BIDU).

Chicago Board Options Exchange (CBOE), the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE's Hybrid Trading System incorporates electronic and open-outcry trading and is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports the CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named "Best of the Web" for options information and education.

CBOE, a wholly-owned subsidiary of CBOE Holdings, Inc. (NASDAQ: CBOE), is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the AAA-rated Options Clearing Corporation (OCC).

CBOE®, Chicago Board Options Exchange®, CBSX®, CBOE Stock Exchange®, CFE®, CBOEdirect®, FLEX®, Hybrid®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, C2SM, C2 Options Exchange, IncorporatedSM and CBOE Futures ExchangeSM are servicemarks of Chicago Board Options Exchange, Incorporated. Standard & Poor's®, S&P®, S&P 500®, Standard and Poor's Depositary Receipts®, and SPDR® are registered trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Chicago Board Options Exchange, Incorporated.  All other trademarks and servicemarks are the property of their respective owners.

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SOURCE Chicago Board Options Exchange

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