Index roots vs ETF roots: contracts traded on July 6, 2026, with exercise style
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-07-31, from American vs European Options Explained.
| product | exercise_style | contracts_mm |
|---|---|---|
| SPY | American style, share settled | 12.1 |
| QQQ | American style, share settled | 6.88 |
| SPXW | European style, cash settled | 3.65 |
| IWM | American style, share settled | 1.35 |
| SPX | European style, cash settled | 0.19 |
| NDXP | European style, cash settled | 0.08 |
| RUT | European style, cash settled | 0.03 |
| NDX | European style, cash settled | 0 |
- Rows × columns
- 8 × 3
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
product |
text | 8 distinct values (IWM, NDX, NDXP…) | |
exercise_style |
text | 2 distinct values | |
contracts_mm |
number | 0 to 12.1 | count |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
SELECT root AS product,
transform(root,
['SPX', 'SPXW', 'NDX', 'NDXP', 'RUT', 'SPY', 'QQQ', 'IWM'],
['European style, cash settled', 'European style, cash settled',
'European style, cash settled', 'European style, cash settled',
'European style, cash settled', 'American style, share settled',
'American style, share settled', 'American style, share settled'],
'Other') AS exercise_style,
round(sum(volume) / 1e6, 2) AS contracts_mm
FROM (
SELECT substring(ticker, 3, length(ticker) - 17) AS root,
toFloat64(volume) AS volume
FROM global_markets.options_minute_aggs
WHERE window_start >= toDateTime('2026-07-06 08:00:00')
AND window_start < toDateTime('2026-07-07 04:00:00')
AND toDate(toTimeZone(window_start, 'America/New_York')) = toDate('2026-07-06')
)
WHERE root IN ('SPX', 'SPXW', 'NDX', 'NDXP', 'RUT', 'SPY', 'QQQ', 'IWM')
GROUP BY product, exercise_style
ORDER BY contracts_mm DESC
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