{"slug":"why-index-options-are-taxed-60-40","qid":"qualifying_products","label":"Average daily options volume: Section 1256 names against equity options","post_title":"Why Index Options Are Taxed 60/40: Section 1256","post_url":"/blog/why-index-options-are-taxed-60-40#q-qualifying_products","columns":["symbol","tax_treatment","avg_daily_contracts_k"],"rows":[{"symbol":"SPY","tax_treatment":"Ordinary equity option","avg_daily_contracts_k":3834.8},{"symbol":"QQQ","tax_treatment":"Ordinary equity option","avg_daily_contracts_k":2349.7},{"symbol":"IWM","tax_treatment":"Ordinary equity option","avg_daily_contracts_k":941.9},{"symbol":"AAPL","tax_treatment":"Ordinary equity option","avg_daily_contracts_k":833.5}],"shape":"ranking","sql":"SELECT\n    replaceOne(underlying_symbol, 'I:', '')            AS symbol,\n    if(symbol IN ('SPX', 'XSP', 'NDX', 'RUT', 'VIX'),\n       'Section 1256 (60/40)',\n       'Ordinary equity option')                       AS tax_treatment,\n    round(sum(volume) / countDistinct(date) / 1000, 1) AS avg_daily_contracts_k\nFROM global_markets.options_greeks\nWHERE date >= today() - 90\n  AND symbol IN ('SPX', 'XSP', 'NDX', 'RUT', 'VIX', 'SPY', 'QQQ', 'IWM', 'AAPL')\n  AND volume > 0\nGROUP BY symbol\nORDER BY avg_daily_contracts_k DESC","computed_at":"2026-08-22T04:36:22.599438+00:00","elapsed":2.263062852}