Options on the SPY ETF is one of the most actively traded securities in the cash market, with volume at around 216.9 million contracts year-to-date, compared to 199.3 million over the same period year-over-year.
The new jumbo contracts are part of expansion in options contracts, such as mini-options, listed Treasury options and options with smaller price increments. These new products are meant to stoke interest in the options market, which experienced volumes dip 12% in 2012, the first decline in nine years.
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Max Chen contributed to this article.