Chicago Board Options Exchange (CBOE) announced that 2008 was the busiest ever in its 35-year history as 1,193,355,070 contracts changed hands, a 26% increase over the 944,471,924 contracts traded in 2007. Average daily volume (ADV) of 4.7 million contracts beat 2007s 3.8-million-contract ADV by 25% and capped off CBOEs fifth consecutive year of record trading.
During December, CBOE trading volume totaled nearly 73 million contracts, a one-percent rise over December 2007. Average daily trading volume for the month dropped 8% to 3.3 million contracts.
Total volume in equity options at CBOE during 2008 tallied a record 604.0 million contracts, an increase of 21% over the then-record 500 million contracts traded in 2007. Average daily volume in equity options trading rose to 2.4 million contracts, an increase of 20% compared to 1.6 million contracts per day during 2007. ETF options volume of 329.8 million contracts and index options volume of 259.3 million contracts also were annual records, besting 2007 totals by 55% and 13%, respectively. Daily volume in ETF options in 2008 averaged 1.3 million contracts, while index options averaged just more than one million contracts per day.
In 2008, CBOEs overall market share rose to 33.3%, an increase of 0.3 percentage points over 2007 as measured against the six other U.S. options exchanges. In equity options, CBOEs market share of 27.4% rose 1.7% points over 2007s 25.7%. CBOE index option market share rose 2.8% points to 88.8% during 2008, while ETF option market share dropped 2.7% points to 30.3%.
Expanded information on volume for index options and ETF options for December and 2008 as a whole is available at http://www.cboe.com/data/monthlyvolume.aspx.
D.C.