OCC reports higher September options volume as ETF and index activity climbs
U.S. listed derivatives trading remains elevated in 2026, with options activity outpacing the prior year even as some segments soften. OCC's September data shows total options contracts rise 6.2% from a year earlier, while securities lending loan value also increases.
Highlights
- OCC reports September 2026 total options volume at 1.486 billion contracts, up 6.1% year on year, driven by ETF and index activity.
- ETF options volume jumps 37.9% to 642.1 million contracts and index options grow 21.9% to 137.0 million, while equity options fall 13.9%.
- Securities lending average daily loan value climbs 16.8% to $230.95 billion despite a 1.43% drop in total transactions to 337,652 in September.
September trading volumes by asset class
As reported by OCC, total volume reaches 1.49 billion contracts in September 2026, up 6.1% from 1.40 billion a year earlier. Total options volume stands at 1.486 billion contracts, supported by strong gains in ETF and index options, while futures volume declines 6.8% to 4.05 million contracts.Equity options volume falls 13.9% year on year to 706.9 million contracts from 821.5 million. ETF options volume rises 37.9% to 642.1 million contracts, and index options increase 21.9% to 137.0 million contracts.
On a year-to-date basis, average daily volume continues to run ahead of 2025 levels across most categories. Total options YTD ADV reaches 70.6 million, up 20.6%, while total volume YTD ADV increases 20.5% to 70.8 million; futures YTD ADV rises 3.9% to 230,336.
Securities lending trends and market implications
Securities lending activity also expands in value during September, indicating continued demand for financing and hedging activity across the market. Average daily loan value for market loan plus hedge total reaches $230.95 billion, up 16.8% from $197.70 billion a year earlier.Total securities lending transactions edge lower despite the higher loan value. September 2026 total transactions come to 337,652, down 1.43% from 342,550 in September 2025, suggesting larger balances are being carried even as transaction counts slip modestly.
Our earlier article on CME Group’s record average daily volume in September and Q3 2026 highlighted broad-based growth in derivatives activity across major asset classes. It noted especially strong gains in interest rate products, equity index, energy, agricultural and FX contracts, alongside continued participation in cryptocurrency derivatives measured by contract volume and notional value.
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