Investor savings from orders submitted to the PIP have topped $650 million.

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RealVol SPY Options (VOLS)

VOLS offer direct exposure to the realized (actual or statistical) daily volatility exhibited by the SPDR® S&P 500® ETF (symbol SPY).

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Probability Lab

Offers a practical way to think about options without the complicated mathematics.

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Trades Overview

Average Daily PIP Savings

Estimation of money saved by investor using PIP versus the prevailing National Best Bid or Offer (NBBO) at time of trade.

  • $734,912Jan 15
  • $799,411Feb 15
  • $571,858Mar 15
  • $484,276 Apr 15
  • $341,729 May 15
  • $342,513Jun 15
  • $538,457Jul 15
  • $N/AAug 15
  • $N/ASep 15
  • $N/AOct 15
  • $N/ANov 15
  • $N/ADec 15
  • Jan 15
  • Feb 15
  • Mar 15
  • Apr 15
  • May 15
  • Jun 15
  • Jul 15
  • Aug 15
  • Sep 15
  • Oct 15
  • Nov 15
  • Dec 15
  • $ 800,000
  • $ 750,000
  • $ 700,000
  • $ 650,000
  • $ 600,000
  • $ 550,000
  • $ 500,000
  • $ 450,000
  • $ 400,000
  • $ 350,000
  • $ 300,000
  • $ 250,000
  • $ 0
  • $267,560Jan 14
  • $304,880Feb 14
  • $479,117 Mar 14
  • $466,285Apr 14
  • $429,141 May 14
  • $479,037Jun 14
  • $495,577Jul 14
  • $463,779Aug 14
  • $396,412Sep 14
  • $433,947Oct 14
  • $346,858Nov 14
  • $442,400Dec 14
  • Jan 14
  • Feb 14
  • Mar 14
  • Apr 14
  • May 14
  • Jun 14
  • Jul 14
  • Aug 14
  • Sep 14
  • Oct 14
  • Nov 14
  • Dec 14
  • $ 800,000
  • $ 750,000
  • $ 700,000
  • $ 650,000
  • $ 600,000
  • $ 550,000
  • $ 500,000
  • $ 450,000
  • $ 400,000
  • $ 350,000
  • $ 300,000
  • $ 250,000
  • $ 0
  • $195,754Jan 13
  • $194,620Feb 13
  • $182,256Mar 13
  • $236,701Apr 13
  • $273,855May 13
  • $185,259Jun 13
  • $192,162Jul 13
  • $195,265Aug 13
  • $206,402Sep 13
  • $278,144Oct 13
  • $229,865Nov 13
  • $221,410Dec 13
  • Jan 13
  • Feb 13
  • Mar 13
  • Apr 13
  • May 13
  • Jun 13
  • Jul 13
  • Aug 13
  • Sep 13
  • Oct 13
  • Nov 13
  • Dec 13
  • $ 300,000
  • $ 250,000
  • $ 200,000
  • $ 150,000
  • $ 100,000
  • $ 50,000
  • $ 0
  • $168,000Jan 12
  • $185,000Feb
  • $148,000Mar
  • $174,000Apr
  • $178,000May
  • $160,000Jun
  • $180,000Jul
  • $148,000Aug
  • $155,000Sep
  • $130,000Oct
  • $225,000Nov
  • $175,000Dec
  • Jan 12
  • Feb
  • Mar
  • Apr
  • May
  • Jun
  • Jul
  • Aug
  • Sep
  • Oct
  • Nov
  • Dec
  • $ 250,000
  • $ 200,000
  • $ 150,000
  • $ 100,000
  • $ 50,000
  • $ 0
BOX Average Monthly Volume
  • 495,689Jan 15
  • 413,707Feb 15
  • 350,954Mar 15
  • 351,608 Apr 15
  • 341,010 May 15
  • 332,146Jun 15
  • 407,728Jul 15
  • N/AAug 15
  • N/ASep 15
  • N/AOct 15
  • N/ANov 15
  • N/ADec 15
  • Jan 15
  • Feb 15
  • Mar 15
  • Apr 15
  • May 15
  • Jun 15
  • Jul 15
  • Aug 15
  • Sep 15
  • Oct 15
  • Nov 15
  • Dec 15
  • 500,000
  • 400,000
  • 300,000
  • 200,000
  • 100,000
  • 0
  • 311,750Jan 14
  • 311,467Feb 14
  • 475,418Mar 14
  • 453,931Apr 14
  • 398,937May 14
  • 415,359Jun 14
  • 449,739Jul 14
  • 399,261Aug 14
  • 383,224Sep 14
  • 427,311Oct 14
  • 329,288Nov 14
  • 317,927Dec 14
  • Jan 14
  • Feb 14
  • Mar 14
  • Apr 14
  • May 14
  • Jun 14
  • Jul 14
  • Aug 14
  • Sep 14
  • Oct 14
  • Nov 14
  • Dec 14
  • 500,000
  • 400,000
  • 300,000
  • 200,000
  • 100,000
  • 0
  • 436,991Jan
  • 365,201Feb
  • 320,933Mar
  • 370,354Apr
  • 419,792May
  • 373,337Jun
  • 315,663Jul
  • 332,134Aug
  • 346,895Sep
  • 357,021Oct
  • 347,185Nov
  • 279,815Dec
  • Jan
  • Feb
  • Mar
  • Apr
  • May
  • Jun
  • Jul
  • Aug
  • Sep
  • Oct
  • Nov
  • Dec
  • 500,000
  • 400,000
  • 300,000
  • 200,000
  • 100,000
  • 0
  • 590,000Jan
  • 660,000Feb
  • 635,000Mar
  • 612,000Apr
  • 700,000May
  • 650,000Jun
  • 595,000Jul
  • 530,000Aug
  • 570,000Sep
  • 508,000Oct
  • 485,000Nov
  • 420,000Dec
  • Jan
  • Feb
  • Mar
  • Apr
  • May
  • Jun
  • Jul
  • Aug
  • Sep
  • Oct
  • Nov
  • Dec
  • 800,000
  • 700,000
  • 600,000
  • 500,000
  • 400,000
  • 300,000
  • 200,000
  • 100,000
  • 0