The Chicago Board Options Exchange (CBOE) announced that volume in options on the Standard & Poor’s 500 Index (SPX) reached a new milestone today as total year-to-date volume surpassed 50 million contracts traded at CBOE. This is the first time ever that volume in SPX options has topped the 50 million contracts benchmark and has now passed the 49.4 million contracts record yearly volume set last year.
2005 has already been a banner year for trading S&P 500 Index options at CBOE, with new all-time CBOE records established for single-day volume (801,974 contracts, 9/16/05); weekly volume (2,081,537 contracts, 5/16/05 – 5/20/05); and monthly volume (6,612,709 contracts, 8/05). Year-to-date average daily volume in SPX options currently stands at 265,671 contracts, 42% ahead of 2004. Open interest stood at 6,662,777 contracts on Thursday morning.
“We are proud to recognize this major milestone in the history of index options trading,” said CBOE Chairman and CEO, William J. Brodsky. “CBOE is the premier index options marketplace and, in terms of notional value, S&P 500 index products are the most actively traded in the world. This new volume milestone is a testament not only to the index’s popularity among investors, but to the deep liquidity and unrivaled experience found in CBOE’s marketplace.”
“This important milestone in SPX options activity underscores the enormous value that Standard & Poor’s indices provide to investors worldwide,” said Kathleen Corbet, president of Standard & Poor’s. “We are delighted by this achievement.”