CBOE Jan avg daily volume up 16 pct over year ago

* During Jan 92.2 mln contracts traded vs. 83.5 mln yr ago

* CBOE total market share for Jan dips, stands at 29.6 pct

CHICAGO Feb 1 (Reuters) - The Chicago Board Options Exchange said on Monday average daily trading volume last month rose 16 percent to nearly 4.9 million contracts from an average 4.2 million contracts traded per day in January 2009.

During January, 92.2 million contracts changed hands versus 83.5 million contracts traded in January 2009, said CBOE, the largest U.S. options exchange in a statement.

In January, CBOE's market share of total industry volume stood at 29.6 percent, down 2.8 percentage points from January 2009 and down 1.6 percentage points from December 2009.

CBOE typically does not comment on its monthly volume reports, but it said its January market share for index options was 94.4 percent, up 2.2 percentage points from January 2009 and an increase of 1.6 percentage points from December 2009.

For January, exchange-traded fund and equity option market share declined by 2.2 and 4.0 percentage points, respectively, from January 2009, CBOE said.

Total equity volume last month at CBOE rose 8 percent to 50.4 million contracts from 46.9 million in January 2009.

Index options volume in January jumped 28 percent to 21.3 million contracts from 16.6 million traded in the same 2009 period, the exchange said.

CBOE said its exchange-traded fund options volume last month was 20.4 million contracts, up 2 percent over the same year-ago period.

Trading volume at the CBOE Stock Exchange last month rose 4.3 percent to 348.5 million shares traded from 334 million shares in January 2009.

At CBOE Futures Exchange, January trading volume rose 434 percent to a record 221,025 contracts from 41,410 contracts traded in January 2009. (Reporting by Doris Frankel; Editing by James Dalgleish)