American vs European Options Explained
Index roots vs ETF roots: contracts traded on July 6, 2026, with exercise styleranking ·
2026-07-31 · 8×3
July 6, 2026: contracts traded per 15 minutes, S&P 500 index options vs SPY optionsseries ·
2026-07-31 · 27×3
Index roots vs ETF roots: contracts traded on July 6, 2026, with exercise style
Index roots vs ETF roots: contracts traded on July 6, 2026, with exercise style
| 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 |
the exact SQL behind every number
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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