If you’re not trading options contracts you might be missing out on some hot action. Options volume is setting multiple records this year amid the market turmoil. Just look at the figures below.
Total Option Contracts Traded
2006: 2 Billion Contracts Traded by December 22
2007: 2 Billion Contracts Traded by September 25
2008: 2 Billion Contracts Traded by July 22 (Yesterday)
Considering the explosive volume it probably comes as no surprise that the Chicago Board Options Exchange, the largest U.S. options market, reported some eye-popping results. In a nutshell they said profits surged 36%after taxes.