Chicago Board Options Exchange's (CBOE) Volatility Index (VIX) options contract has gained momentum over its first two months, setting daily volume and open interest records in April.
VIX options, launched on 24 February, hit a record 50,522 contracts on 11 April, topping the prior record of 31,481 contracts set on 29 March. Through April, VIX options averaged 15,800 contracts daily. Open interest also continued to climb, hitting 234,417 contracts on 12 April.
The contract's success has come as something of a surprise to many observers...