CBOE EXPERIENCES BUSIEST TRADING WEEK IN ITS HISTORY
VOLUME WAS NEARLY 28 MILLION CONTRACTS; Four Of The Busiest Single-Days In CBOE History Have Occurred In August, New Weekly Volume Record Also Set In Options On CBOE Volatility Index (VIX)
The Chicago Board Options Exchange (CBOE) announced that last week was the busiest trading week in its history as 27,866,804 contracts traded during the five trading days from Monday, August 6 through Friday, August 10, surpassing the previous high of 23.3 million contracts traded during the week of February 26 to
March 2, 2007
. Average daily volume last week was 5,573,361 contracts, 57% above the Exchange's year-to-date average daily volume of 3,539,338 contracts.
Additionally, four of the top ten busiest single trading days in CBOE history have occurred during the first eight trading days of August:
- Friday, August 10 -- 6,139,191 contracts, currently ranks #5 all-time
- Wednesday, August 8 -- 5,811,079 contracts, currently ranks #7 all-time
- Monday, August 6 -- 5,634,718 contracts, currently ranks #9 all-time
- Wednesday, August 1 -- 5,548,500 contracts, currently ranks #10 all-time
CBOE also set a new weekly volume record for trading of options on the CBOE Volatility Index (VIX) as 1,009,140 contracts traded during the week of Monday, August 6 to Friday, August 10. Last week's record volume topped the previous high of 909,038 contracts set just one week earlier, from July 30 to
August 3, 2007
. Average daily volume last week in VIX options was 201,828 contracts, 182% above the year-to-date average daily volume of 71,566 contracts.
The CBOE Volatility Index (VIX), introduced in 1993, has been viewed as the preeminent barometer of market volatility and investor sentiment. Derived from real-time S&P 500 Index option prices, VIX is designed to reflect investors' consensus view of expected near-term stock market volatility over the next 30 days. VIX is closely followed and highly publicized and is referred to as the market's "fear gauge."
FUTURES ON THE CBOE RUSSELL 2000 VOLATILITY INDEX MAKE SUCCESSFUL DEBUT ON THE CBOE FUTURES EXCHANGE; After One Month Of Trading,
the (RVX) has been the most successful new product launch to date at the exchange. The contract, which launched on
Friday, July 6, 2007
, has experienced active market participation and solid trading volume during its first month of being listed on CFE.
During the first full month of trading, volume in RVX futures (futures symbol VR) has totaled 5,898 contracts (4,437 contracts in July and 1,461 contracts during the first three days of August).At the close of trading on Friday, August 3, open interest in RVX futures stood at 2,428 contracts.
The CBOE Russell 2000 Volatility Index (RVX) is based on real-time Russell 2000 Index (RUT) option prices, and is designed to reflect investors' consensus view of future (30-day) expected market volatility of the Russell 2000 Index. RVX futures are cash-settled and trade on the February quarterly cycle, with current expirations in August, September and November in 2007, and February in 2008. The contract is 1,000 times the value of the RVX, which is calculated and disseminated by the CBOE throughout the trading day.
