The extra trading day in February didn't help the CBOE's volumes grow month over month, yet its key areas grew year over year.
The Chicago-based Exchange operator CBOE Holdings Inc, which is listed on the NASDAQ under ticker CBOE, has just released trading metrics for February that showed a broad decline for its options and futures trading contract totals when compared to the first month of 2016.
Total volume was lower by 10% to 92.9 million contracts traded in February when compared to the previous month, from across the CBOE Futures Exchange (CFE) and the Chicago Board of Options (CBOE) and C2 Options Exchange (C2) business segments operated by the group. On a year-over-year basis these totals were up 5% comparatively.
Despite the extra trading day in February, Average Daily Volume (ADV) was down sharply by 14% to 4.6 million contracts from January 2016 or month-over-month (MoM) yet unchanged when compared to the same month last year (YoY).
The exchange group said that its ADV in February from index options was also down 13% MoM, yet higher by 26% YoY, which could reflect that traders in January were initiating options positions in anticipation of continued market Volatility, whereas in February the ongoing heightened volatility made options premiums already more expensive.
This can occur when implied volatility - which had surged - is used to calculate the value of options premiums based on what the market is expecting when measured against the historical volatility of the underlying. The volatility inflated premiums could have caused those same investors to look elsewhere for hedges or to speculate with an inverted ETF for example, as many traders sat on the sidelines awaiting a clearer market direction.
ADV was 13% lower in equity options and down 26% YoY, and options on exchange traded products (ETP) saw ADV down 17% over January’s totals, yet unchanged YoY. The changes year over year also include the offset of one extra trading day that February 2016 had due to the leap year, when compared to February 2015 as seen in the excerpt below from the CBOE statement:
The news follows just hours after the company announced two new exotic options products set to launch later this month.
The Chicago-based Exchange operator CBOE Holdings Inc, which is listed on the NASDAQ under ticker CBOE, has just released trading metrics for February that showed a broad decline for its options and futures trading contract totals when compared to the first month of 2016.
Total volume was lower by 10% to 92.9 million contracts traded in February when compared to the previous month, from across the CBOE Futures Exchange (CFE) and the Chicago Board of Options (CBOE) and C2 Options Exchange (C2) business segments operated by the group. On a year-over-year basis these totals were up 5% comparatively.
Despite the extra trading day in February, Average Daily Volume (ADV) was down sharply by 14% to 4.6 million contracts from January 2016 or month-over-month (MoM) yet unchanged when compared to the same month last year (YoY).
The exchange group said that its ADV in February from index options was also down 13% MoM, yet higher by 26% YoY, which could reflect that traders in January were initiating options positions in anticipation of continued market Volatility, whereas in February the ongoing heightened volatility made options premiums already more expensive.
This can occur when implied volatility - which had surged - is used to calculate the value of options premiums based on what the market is expecting when measured against the historical volatility of the underlying. The volatility inflated premiums could have caused those same investors to look elsewhere for hedges or to speculate with an inverted ETF for example, as many traders sat on the sidelines awaiting a clearer market direction.
ADV was 13% lower in equity options and down 26% YoY, and options on exchange traded products (ETP) saw ADV down 17% over January’s totals, yet unchanged YoY. The changes year over year also include the offset of one extra trading day that February 2016 had due to the leap year, when compared to February 2015 as seen in the excerpt below from the CBOE statement:
The news follows just hours after the company announced two new exotic options products set to launch later this month.
Devexperts Teams Up with nuam Exchange to Boost Equity and Derivatives Trading
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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