CBOE’s April Volumes Retreat Across the Board, Options Drop

Options and futures were bogged down by lighter volumes during April, part of an industry-wide trend.

The Chicago Board Options Exchange (CBOE) Holdings (NASDAQ: CBOE), one of the largest operators of the US equity options market, has reported its trading volumes for the month ending April 2016, which saw a notable pullback across several channels MoM, according to a CBOE statement.

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During April 2016, CBOE Holdings disclosed a total trading volume for options contracts on Chicago Board Options Exchange, C2 Options Exchange, and futures contracts on CBOE Futures Exchange of 87.8 million, falling -8.0% MoM from 95.4 million contracts in March 2016. This also corresponded to an average daily volume (ADV) of 4.2 million contracts per day, which was also lower by -2.3% MoM from 4.3 million contracts per day in March 2016.

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These lower figures also illustrated a similar pattern at the CBOE over a yearly interval, which in terms of total volumes during April 2016 marked a decrease of -3.9% YoY from 91.4 million contracts in April 2015.

CBOE Volumes

Across its options business, CBOE’s ADV came in at 3.9 million contracts in April 2016, lower by a factor of -5.0% MoM from 4.2 million contracts in March 2016, with a congruent change of -5.0% YoY from April 2015. The exchange-wide trading volume totaled 77.1 million contracts in April 2016, also rescinding -10.0% MoM from 85.4 million contracts in March 2016.

In terms of ADV, index options in April 2016 came in at 30.7 million contracts, notching a MoM decline of -18.0% from 37.5 million contracts in March 2016, while ADV in exchange-traded product (ETP) options crumbled by a factor of -14.0% MoM – equity options also rose 6.0% MoM from March 2016.

C2 Option Exchange

By extension, C2 Option Exchange’s April 2016 trading volume totaled 6.0 million contracts, virtually unchanged MoM by approximately 6.0 million contracts in March 2016 – compared to its 2015 counterpart, the latest figures also corroborate a move of and a move lower of -13.0% YoY from 6.9 million contracts in April 2015. Meanwhile, ADV was reported at 288,600 contracts in April 2016, a 6.0% MoM increase from 272,400 contracts in March 2016 and a -31.0% YoY fall from 332,000 contracts in April 2015.

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