Trading volume in S&P 500® Index options (SPXSM) contracts on Thursday, June 20 established a new daily record of 2,282,029 contracts traded. Thursday’s SPX record surpassed the previous daily volume record of 2,187,004 contracts set on May 20, 2010. The open interest for SPX options on June 20 was 15,481,319 contracts (5,959,438 SPX calls and 9,521,881 SPX puts). A key factor impacting the record volume is the fact that yesterday was the last trading day for the June a.m.-settled SPX options. Today is the roll date for the BXM, BXY, and other CBOE benchmarks indexes.
Another driving factor for yesterday’s volume was the changes in volatility levels for stocks, commodities and interest rates. Many investors desired to engage in risk management and yield enhancement strategies using index options. The VIX® – CBOE Volatility Index® jumped 23.1% yesterday as it rose above 20 for the first time this year. Yesterday the VXSLV – CBOE Silver ETF Volatility Index rose 31.7%, and the GVZ – CBOE ETF Gold Volatility Index rose 32.9%. www.cboe.com/volatility
DAILY CLOSING VALUES THIS WEEK