Insights Overview

Most Recent:

Calm Economic News Continues to Soothe the Markets

By JJ Kinahan

Markets are tame again in early trading today, mirroring most of this week’s trading after inflation fears were settling amid spot-on economic reports.

Daily Market Commentary

Producer Price Index Offers Another Respite on Inflation

By JJ Kinahan

Investors got another breather on inflation expectations after the Producer Price Index (PPI) came in cooler than expected, confirming what the Consumer Price Index (CPI) told us Wednesday.

The Latest

Market Metrics That Matter: U.S. Cash Equities July Volume Briefing

Total U.S. equities market Average Daily Volume (ADV) fell 25.43% month-over-month (down 3.41% year-over-year) to 17.42 billion shares traded in July. Off-exchange volume expanded to 50.1%, up 126 basis points month-over-month.

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Index Options and Futures

Index Options Explained

XSP: More Potential Benefits Than SPY

At 1/10th the size of SPX, XSP offers very similar notional size, weekly expirations, and PM-settlement to SPY, but with even more potential benefits.

Index Options Explained

Don't Get Stuck Paying the Dividend on Your Short Trade

Many trading strategies, such as covered-call or spread trading, involve options writing (selling), where the primary risks are market movement and volatility. But there's another risk if you happen to be writing options on dividend-paying equities like SPY ETFs: early assignment.

Index Options Explained

Why Option Settlement Style Matters

There are a number of different types of options contracts available on broad-based U.S. equity indexes. Some of the most actively traded products include options on SPY, SPX and XSPSM (Mini-SPX). They all track the S&P 500® and both SPY and XSP options have the same notional size, making them somewhat interchangeable. A key difference, however, is settlement style.

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Equities and ETPs

Equities Market Research

Market Metrics That Matter: U.S. Cash Equities June Volume Briefing

Cboe’s market activity increased in June with a record Average Daily Volume (ADV) of 23.3 billion, a high not seen since March 2020. Cboe's share of addressable market share increased to 21.9%, attributable to the continued adoption of premium products and Exchange Traded Fund (ETF) listings.

Equities Market Research

Market Metrics That Matter: Cboe FX June Volume Highlights

In June 2026, Cboe FX Spot Average Daily Volume (ADV) reached $59.6 billion, a 23.4% increase versus June 2025's ADV of $48.3 billion. Cboe SEF ADV1 topped $4.6 billion, representing a 59.0% increase from $2.9 billion in June 2025.

Equities Market Research

Market Metrics That Matter: European Equities May Volume Briefing

European equity trading volumes continued to soften during May following the high-volatility period at the start of the year, with activity shifting from continuous trading to Closing Auctions following the MSCI rebalance. Cboe Europe was the largest equities exchange by market share, supported by its diversified trading mechanism offering.

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Most Recent:

Calm Economic News Continues to Soothe the Markets

By JJ Kinahan

Producer Price Index Offers Another Respite on Inflation

By JJ Kinahan

Market Metrics That Matter: U.S. Cash Equities July Volume Briefing

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Index Options and Futures

XSP: More Potential Benefits Than SPY

Don't Get Stuck Paying the Dividend on Your Short Trade

Why Option Settlement Style Matters

Equities and ETPs

Market Metrics That Matter: U.S. Cash Equities June Volume Briefing

Market Metrics That Matter: Cboe FX June Volume Highlights

Market Metrics That Matter: European Equities May Volume Briefing

Calm Economic News Continues to Soothe the Markets

By JJ Kinahan

Producer Price Index Offers Another Respite on Inflation

By JJ Kinahan

Market Metrics That Matter: U.S. Cash Equities July Volume Briefing

XSP: More Potential Benefits Than SPY

Don't Get Stuck Paying the Dividend on Your Short Trade

Why Option Settlement Style Matters

Market Metrics That Matter: U.S. Cash Equities June Volume Briefing

Market Metrics That Matter: Cboe FX June Volume Highlights

Market Metrics That Matter: European Equities May Volume Briefing