We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cboe Global (CBOE) Reports Strong May Average Daily Volume
Read MoreHide Full Article
Cboe Global Markets’ (CBOE - Free Report) average daily volume (“ADV”) for May 2020 of 9.7 million contracts increased 14.6% year over year, driven by 17.9% higher Options contracts, partly offset by 60.8% lower Futures ADV. Though U.S. Equities witnessed increased volumes year over year, volumes were lower for European Equities and Global Forex.
Total contracts for the month were 194.1 million, up 4.3% year over year. Of this, Options contracts increased 7.2% to 191.4 million, while Futures dropped 64.4% to 2.7 million. Options ADV was 9.6 million whereas Futures ADV was 0.1 million.
Subsequently, total volumes of the U.S. Equities Matched were 37.9 billion shares, up 50.6% year over year. Moreover, European Equities Matched reflected a 36.8% decline year over year to €118.1billion whereas Global FX Matched was up 13.4% to $658.7 billion.
CBOE Global should continue witnessing solid average daily volumes, given its compelling product portfolio. It should drive transaction fees, which account for the lion’s share of total operating revenues.
Notably, Cboe EDGX Options Exchange recorded a new all-time monthly ADV with more than 1.2 million contracts traded in May, up 98% year over year.
One of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading has deferred reopening of its options exchange trading floor in Chicago by one week due to the pandemic. The floor, which was expected to reopen on Jun 8, is now anticipated to reopen on Jun 15.
Shares of CBOE Global Markets have underperformed its industry year to date. The stock has lost 15.8% against the industry’s growth of 3.7%. Nonetheless, given strength in its proprietary products, primarily SPX Options, VIX Options and VIX Futures, strong market position and global reach, this Zacks Rank #2 (Buy) derivative exchange in the United States should see share price momentum.
The company is committed to building an economic market model via technological advancements. Also, upgrades to a wide array of products and services will assist all exchanges to stay afloat amid changing industry dynamics.
Recently, Nasdaq (NDAQ - Free Report) reported missed volumes for the month of May. While U.S. equity options volume increased 17.5% year over year to 181 million contracts, European options and futures volume decreased 37.9% year over year to 5.4 million contracts. MarketAxess Holdings’ (MKTX - Free Report) trading volume for May 2020 of $519.7 billion consisted of $229.3 billion in credit volume and $290.5 billion in rates volume. CME Group (CME - Free Report) reported soft average daily volume (ADV) for May 2020. Average daily volume of 17.9 million contracts per day was down 25% year over year attributable to lower volumes in five of the six product lines.
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
Image: Bigstock
Cboe Global (CBOE) Reports Strong May Average Daily Volume
Cboe Global Markets’ (CBOE - Free Report) average daily volume (“ADV”) for May 2020 of 9.7 million contracts increased 14.6% year over year, driven by 17.9% higher Options contracts, partly offset by 60.8% lower Futures ADV. Though U.S. Equities witnessed increased volumes year over year, volumes were lower for European Equities and Global Forex.
Total contracts for the month were 194.1 million, up 4.3% year over year. Of this, Options contracts increased 7.2% to 191.4 million, while Futures dropped 64.4% to 2.7 million. Options ADV was 9.6 million whereas Futures ADV was 0.1 million.
Subsequently, total volumes of the U.S. Equities Matched were 37.9 billion shares, up 50.6% year over year. Moreover, European Equities Matched reflected a 36.8% decline year over year to €118.1billion whereas Global FX Matched was up 13.4% to $658.7 billion.
CBOE Global should continue witnessing solid average daily volumes, given its compelling product portfolio. It should drive transaction fees, which account for the lion’s share of total operating revenues.
Notably, Cboe EDGX Options Exchange recorded a new all-time monthly ADV with more than 1.2 million contracts traded in May, up 98% year over year.
One of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading has deferred reopening of its options exchange trading floor in Chicago by one week due to the pandemic. The floor, which was expected to reopen on Jun 8, is now anticipated to reopen on Jun 15.
Shares of CBOE Global Markets have underperformed its industry year to date. The stock has lost 15.8% against the industry’s growth of 3.7%. Nonetheless, given strength in its proprietary products, primarily SPX Options, VIX Options and VIX Futures, strong market position and global reach, this Zacks Rank #2 (Buy) derivative exchange in the United States should see share price momentum.
The company is committed to building an economic market model via technological advancements. Also, upgrades to a wide array of products and services will assist all exchanges to stay afloat amid changing industry dynamics.
Recently, Nasdaq (NDAQ - Free Report) reported missed volumes for the month of May. While U.S. equity options volume increased 17.5% year over year to 181 million contracts, European options and futures volume decreased 37.9% year over year to 5.4 million contracts. MarketAxess Holdings’ (MKTX - Free Report) trading volume for May 2020 of $519.7 billion consisted of $229.3 billion in credit volume and $290.5 billion in rates volume. CME Group (CME - Free Report) reported soft average daily volume (ADV) for May 2020. Average daily volume of 17.9 million contracts per day was down 25% year over year attributable to lower volumes in five of the six product lines.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>