Since CBOE founded the listed options business in 1973, it has been the leader in options volume every single year. In 2008, CBOE options contract volume was an all-time record of 1,193,355,070 contracts (up 26% over the previous year). It is estimated that CBOE traded more than $24 trillion in notional value of listed options in 2008. Notional value of volume is an important concept for institutional investors with large investment portfolios to manage. In 2008 average daily volume in CBOE options on indexes and ETFs was 2,328,748 contracts 32% increase over 2007. CBOE now offers more than 100 different index options contracts (including options on index ETFs and on cash-settled indexes). Since its introduction of S&P Index Options in 1983, CBOE's total volume in S&P options is more than 1.8 billion. In 2008, average daily volume for CBOE's S&P 500 options was a record 707,699 contacts (or about $70 billion in notional value per day).
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