Yesterday (Jan. 23) the daily volume for the S&P 500 Weeklys options (SPXW) hit an all-time high of 426,955 contracts.
Today (Jan. 24) reported estimated volume for the S&P 500 Weeklys options had topped 460,000 contracts by 1:00 PM Chicago time, so today will be the second day in a row with record SPXW trading volume (a future CBOE Options Hub Blog will provide an update. Editors Note: preliminary SPXW volume today was 747,600 contracts).
The average daily volume for SPXW options rose from 99,358 in 2012 to 197,126 in 2013, an increase of 98%.
IMPLIED VOLATILITY OF WEEKLY OPTIONS – SEE THE VXST INDEX
For investors who want to learn more about the implied volatility SPXW options, a great tool is the CBOE Short-term Volatility Index (VXST). The table below shows that over the past 3 years the VXST had a couple of one-day moves of more than 80%.