Single stock options and futures
In this article we analyse the trends in single stock derivatives in H1 2021 compared to 2020. Single stock derivatives include both options and futures contracts traded.
The data is taken from the WFE Statistics Portal. The definition of our indicators can be found in WFE Definitions Manual.
The number of single stock derivatives contracts traded in H1 2021 was 6.70 billion, which was a 16.5% increase on H2 2020 and a 72.9% increase on H1 2020. In H1 2021, futures accounted for 35% of all single stock derivatives contracts traded, while options for 65%. Quarter-on-quarter, Q2 2021 registered a 10.8% drop (to 3.16 billion contracts traded).
Figure 1: Number of single stock options and futures contracts traded between Jan 2019 – Aug 2021
In H1 2021 both single stock options and futures volumes rose 20.1% (to 4.37 billion) and 10.3% (to 2.33 billion), respectively, when compared to H2 2020. Year-on-year, in H1 2021 the increase was even more pronounced, options and futures volumes going up 67.9% and 83%, respectively.
The increase in number of futures contracts traded in H1 2021 compared to H2 2020 was due to an increase across the Americas 36.2% and APAC 16.7%, while EMEA went down 2.5%. Exchanges with an excellent performance in H1 2021 compared to H2 2020 were: Bourse de Montreal (234.8%), Taiwan Futures Exchange (156.8%), ICE Futures Europe (122.9%), Deutsche Boerse AG (95%), BME Spanish Exchanges (67.5%), Athens Stock Exchange (60.8%), Thailand Futures Exchange (52.4%), Johannesburg Stock Exchange (44.5%), B3 - Brasil Bolsa Balcão (34.3%), Moscow Exchange (17.1%) and Korea Exchange (15.7%).
The increase in the number of options contracts traded in H1 2021 relative to H2 2020 was due to increases across all regions: the Americas 18.8%, APAC 33.2% and EMEA 24% respectively. Exchanges which did very well were: Borsa Istanbul (160.9%), MIAX Exchange Group (60.5%), National Stock Exchange of India (42.5%), Bourse de Montreal (34.8%), Deutsche Borse AG (28.3%), ICE Futures Europe (25.1%), Nasdaq-US (23.4%), Hong Kong Exchanges and Clearing (19.7%), Cboe Global Markets (18.9%) and Nasdaq Nordic and Baltics (13.1%).
In H1 2021, futures contracts were traded mostly in EMEA (43%), followed by APAC (39%) and the Americas (18%).
Futures contracts traded in H1 2021 compared to H1 2020 rose in all regions: the Americas by a significant 640.5% (due mostly to B3 - Brasil Bolsa Balcão, but also to Bourse de Montreal), APAC 32.8% and EMEA 87.3%. Quarter-on-quarter, Q2 2021 futures volumes fell 17.3%, caused by a decline across all regions: the Americas 23.1%, APAC 12% and EMEA 19.5%.
Figure 2: Number of single stock futures contracts traded between Jan 2020 – Aug 2021
The increase in number of options contracts traded in H1 2021 compared to H2 2020 was due to increases in the Americas (18.8%), APAC (33.2%) and EMEA 24%.
The Americas has the largest share of option contracts traded (88%), while APAC and EMEA account for 8% and 4%, respectively.
Year on year, in H1 2021 the increase in options contracts traded was due to all regions: the Americas 71.7%, APAC 78.7% and EMEA 7.5%. Quarter-on-quarter, in Q2 2021 options volumes went down 7.1%, caused by the Americas and EMEA 8% and 12.4%, respectively, while APAC went up 6.8%.
Figure 3: Number of single stock options contracts traded between Jan 2020 – Aug 2021
The number of single stock options and futures traded in each region is illustrated in Figures 4-6.
Figure 4: Number of single stock options and futures contracts traded in the Americas between Jan 2019 – Aug 2021
Figure 5: Number of single stock options and futures contracts traded in APAC between Jan 2019 – Aug 2021
Figure 6: Number of single stock options and futures contracts traded in EMEA between Jan 2019 – Aug 2021
