Trading volume in S&P 500 Index (SPX) Weeklys options totalled an estimated 747,616 contracts last week, an all-time daily volume record, according to Chicago Board Options Exchange (CBOE).
The new record surpassed – by 75 per cent – the previous daily record of 426,955 SPX Weeklys (SPXW) contracts traded yesterday.
Prior to this week, the single-day volume record had been 425,270 contracts from 31 May 2013.
SPX Weeklys options have driven tremendous growth in the CBOE’s SPX options complex over the last several years. Average daily volume (ADV) for SPX Weeklys options during 2013 reached an all-time high of 197,126 contracts, a 98-per cent increase from 2012. Total annual volume in CBOE’s SPX options reached a new all-time high in 2013 with 207.5 million contracts traded, an increase of 19 percent over 2012.
CBOE’s S&P 500 product line includes options on its flagship SPX contract, SPX Weeklys, SPX Quarterlys, SPXpm and Mini-SPX.