CBOE Sets Single-Day Volume Record In MNX

The Chicago Board Options Exchange (CBOE) announced that volume at CBOE on Monday, April 18 in options on the Mini Nasdaq 100 Index (MNX) was 84,871 contracts a new volume record for the busiest single trading day in MNX options,

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The Chicago Board Options Exchange (CBOE) announced that volume at CBOE on Monday, April 18 in options on the Mini Nasdaq-100 Index (MNX) was 84,871 contracts-a new volume record for the busiest single trading day in MNX options, surpassing the previous record of 84,714 contracts on August 16, 2001.

Through the first three months of 2005, CBOE’s year-to-date MNX average daily volume has been 24,597 contracts traded, which is equal to 2004’s pace. Total trading volume for MNX options was 1,500,420 contracts through March, down less than 1% from 2004.

The CBOE Mini-NDX Index is based on 1/10th the value of the Nasdaq-100 Index (NDX). For example, if the NDX index is at 1400, the MNX will be 140. MNX index options have a multiplier of 100; thus, if the MNX price level is 140, an investor could consider hedging $14,000 of equity exposure with one MNX options contract. NDX is a modified capitalization-weighted index composed of 100 of the largest non-financial securities listed on the Nasdaq Stock Market.

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