Market Metrics That Matter: Derivatives February Volume Highlights

February Highlights

U.S. Index Options

SPX Record Volumes

• S&P 500 Index Options (SPX) had a record monthly Average Daily Volume (ADV) of 4.75 million contracts.
• There was a record concentration of zero-days-to-expiry Options (0DTE Options) with an ADV of 2.99 million contracts or 63%.
• SPX Global Trading Hours (GTH) reached a record ADV of 133,000 thousand contracts.

XSP Record Volumes

• Mini S&P 500 Index Options (XSP) set a new monthly ADV record of 186,300 thousand contracts.

RUT Record Volumes

• 2,971 Russell 2000 Index options (RUT) contracts were traded during Global Trading Hours (GTH).

U.S. Futures

• Credit Futures: All three of Cboe’s iBoxx products saw significantly higher volume in February with open interest in Cboe® iBoxx® iShares® $ Investment Grade Corporate Bond Index Futures (IBIG) increasing 38% to 5,900 thousand contracts.
• VIX Index Futures (VX): VX futures experienced a strong month, with an ADV of 259,000 contracts, up 16% month-over-month.
• Crypto: Both traditional and continuous digital products showed high-volume growth this month, with Cboe Bitcoin Continuous Futures (PBT) ADV volume increasing from 229 to 1,300 thousand contracts.

News and Insights

• Cboe Introduces Innovative Prediction Markets Framework, Expanding Choice Beyond Yes-Or-No Outcomes
• Cboe to Launch BITVX, A New Volatility Index Based on IBIT Options

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