Despite mediocre global economic conditions and lower stock volume at some brokers, the leading options exchange (CBOE) reported some impressive numbers for 2011. We'll examine their numbers as a proxy for the entire option industry.
With the vast diversity of options in terms of hedging, speculation and leverage, it's not surprising to see this continued growth and increased popularity.
Overall, CBOE.com reported combined options trading volume of 1.20 billion contracts in 2011 vs 1.12 in 2010 (up 7%). Average daily volume was up 8% to 4.78 million contracts.
The real growth is in trading of Index, ETF, & VIX options — we've previously discussed the growing popularity of ETFs. 2 CBOE flagship products, options on the S&P 500 Index (SPX) and CBOE Volatility Index (VIX), both bosted all-time annual volume records.
CBOE ETF options volume in 2011 was up a whopping 22% over 2010. And VIX options trading (which actually is on the CBOE-owned Chicago Futures Exchange) grew an explosive 174% over 2010.
The many advantages of using options in a portion of your portfolio for any type of investor or trader continues to become more apparent year-after-year, which is seen in the increasing volume and popularity.
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