According to a Fox Business News report based on CBOE data it seems that others are interested in the fact that mini options contracts started trading. According to the article, “Mini Options See ‘Respectable’ Start”
As of late afternoon Monday, more than 18,000 mini options contracts had been traded. Apple mini options led, with 7,979 contracts. SPDR S&P 500 and the Gold ETF minis were the next most popular, with 5,375 and 3,770 contracts traded, respectively, according to options-data firm Trade Alert.
Amazon and Google mini options lagged behind, with volume of just 825 and 413 contracts, respectively, according to the data.
SPY options are typically among the most actively traded of the day. Over the past month, SPY has averaged 2.6 million contracts traded daily. Traditional Apple options average about 550,000 contracts traded daily, while GLD averages 206,000 contracts.
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The Apple mini-options volume was strong enough to make it the 212nd-most-actively traded option by underlying security–more popular than 94% of the other options on the market. Options trade on 3,854 stocks, ETFs and indexes. SPY minis were the 273rd-most-actively traded options as of midday Monday.
In their first day mini options volume has already surpassed a large percentage of all options.
Why Are Mini Options Contracts So Popular?
Mini options contracts are so popular because it allows individual investors or even institutional investors the ability to trade, invest or hedge with options without risking or even having to put up between $45,000 (at Apple’s 3/20/13 close of $450) and $81,000 (Google’s close of around $814 on the same date).
As time goes on I believe that mini options contracts will become more and more popular as the news gets out that they exist.
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