Someone Tell VIX Option Traders It’s Summertime

Despite being in the midst of the traditionally slow trading period for the equity markets that seems to annually come between the end of second quarter earnings and Labor Day VIX options put up a pretty impressive volume day.  1,351,177 VIX options changed hands at the CBOE today for the fourth busiest day on record.  The record volume day for VIX option trading was on March 19th this year when 1,392,621 options were traded.  The average daily volume for VIX options by month including the average for the first four days of August appears below.

VIX Average Volume