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February Equity Option Volumes See Slight Declines

February Equity Option Volumes See Slight Declines
March 07
01:00 2012

On March 1, the Options Industry Council (OIC) released February volume figures. For the month, 349,463,168 total options contracts changed hands, representing a 1.34 percent decline from February 2011’s 354,214,236 contracts.

Average daily trading volume for February was 17,473,158 contracts, a 6.27 percent decline from the 18,642,854 contracts traded from the previous year.

Through February, year-to-date volume stood at 684,863,167 contracts, a 6.53 percent drop from the 732,694,742 contracts traded from the same time period in 2011.

Equity options volume

Equity options volume (options on individual stocks and ETFs) was 323,293,320 contracts in February, down 2.61 percent as the previous year’s 331,962,409 contracts.

On average, 16,164,666 contracts changed hands each February day, representing a 7.48 percent decline from February 2011’s daily average volume of 17,471,706 contracts.

Year to date, equity options volume was 636,656,337 contracts, down 7.3 percent from February 2011’s 686,757,923 contracts traded.

In addition, the following exchanges reported the following February volume numbers.

ISE

The International Securities Exchange (ISE) reported its February volume numbers and saw an average daily volume of 2.7 million contracts. This was a 16.6 percent decline as compared to February 2011.

Total options volume for February was 53.5 million contracts, a 12.2 percent decline from February 2011’s 60.9 million contracts.

Year to date, ISE’s total volume was 107.4 million contracts. This is down 15.5 percent from February 2011’s 127.1 million.

In February, ISE came in as the second largest U.S. equity options exchange with a market share of 17.8%* (*ISE does not include dividend trade volume in market share statistics.). This compares to February 2011’s market share of 19.0 percent.

CBOE

CBOE’s February average daily volume (ADV) was 4.8 million contracts. This was pretty much the same from February 2011’s figures but a 12 percent increase from January’s 4.3 million contracts.

Other average daily volume figures included:

CBOE index options: February 2012 index option ADV was 1.2 million contracts, up 12 percent from the previous year’s 1.1 million contracts. This was an 18 percent rise from January’s one million plus ADV contracts.

CBOE ETF options: February 2012 ETF option ADV was more than 1.2 million contracts, up five percent from nearly 1.2 million contracts ADV in February 2011 and up 14 percent from January’s 1.1 million ADV contracts.

CBOE equity options: February 2012 equity option ADV was 2.4 million contracts, down eight percent from 2.6 million contracts ADV in February 2011and up eight percent from January’s 2.2 million ADV contracts.

CBOE’s five most actively traded index and ETF options in February included the S&P 500 Index (SPX), Standard & Poor’s Depositary Receipts (SPY), CBOE Volatility Index (VIX), QQQ Trust (QQQ) and iShares Trust-Russell 2000 Index Fund (IWM).

CBOE’s five most actively traded equity options in February included Apple (AAPL), Bank of America (BAC), Cisco Systems (CSCO), Microsoft Corporation (MSFT) and Citigroup (C).

CBOE Market Share

CBOE February market share was 27.7 percent, up 1.7 percentage points from February 2011 and 2.0 percentage points from January. If the volume from dividend trades was excluded from industry data for February 2012, CBOE’s total market share for February would be 29.1 percent.

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