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US Options Volume Drifts Higher in June as Volatility Remains Muted

Traders Magazine Online News, July 25, 2017

John D'Antona Jr.

The U.S. listed options market is managing to hold off the summer doldrums – at least in June.

Listed options volume totaled 374.4 million in June 2017, an increase of 7.8 million contracts from May 2017 and a 1.8 percent increase from June 2016, according to the latest options LiquidityMatrix report from Tabb Group. The relatively modest increase in volume – not only compared to last month but compared to June 2016 and June 2016 – was achieved despite the seemingly never-ending moribund volatility, the firm wrote.

“Despite the current historically low volatility trading environment, US Equity Options volume for the first half of 2017 is higher than in the same period over the previous two years,” the report said.

June 2017 YTD totals are outpacing both 2015 and 2016, and TABB Group still expects full-year 2017 Options volumes to increase slightly over 2016 levels.

“We still feel there will be plenty of opportunities during the remainder of 2017 for volatility to break out of its depressed range and provide trading opportunities that will increase volumes,” the report authors said.  

 The Options LiquidityMatrix™ is a monthly analysis of options market activity published by TABB Group with analysis and statistics from Hanweck. The report includes options trading volumes and statistics on execution metrics for each US listed options exchange and the industry, using data sourced from the OCC and Hanweck. 

The Options LiquidityMatrix™ includes data and analysis separately for penny options classes and all options trades. Charts and data tables in the report include:

  • Options volume by exchange on year-to-date and monthly basis.
  • Options market share by exchange for AMEX, BATS, BOX, C2, CBOE, ISE, ISE Gemini, MIAX, Nasdaq, Nasdaq BX, NYSE Arca and OMX PHLX.
  • Options market quality for penny options classes and all options trades, including
    • Average bid/ask spread
    • Average bid/offer size
    • Number of series traded
    • Average trade size (contracts)
    • Average trade value
    • Percentage executed at bid/ask
    • Percentage of time at best bid/offer
    • Percentage of time at best bid/offer and greatest size

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