Pursue Powerful Outcomes

With CBOE SPX Options, Protection is Power.

Achieve efficient broad market protection in one trade with SPX options' large notional value and unmatched liquidity -- which can help minimize draw-downs and increase risk-adjusted returns. All while benefitting from cash settlement, potential tax advantages and extended trading hours. With SPX, protection is more than reducing risk. It's the foundation for powerful outcomes.

Pursue Powerful Outcomes

With CBOE SPX Options, Protection is Power.

Achieve efficient broad market protection in one trade with SPX options' large notional value and unmatched liquidity -- which can help minimize draw-downs and increase risk-adjusted returns. All while benefitting from cash settlement, potential tax advantages and extended trading hours. With SPX, protection is more than reducing risk. It's the foundation for powerful outcomes.

SPX Options

Achieve broad market protection in one trade. SPX options give investors an efficient way to gain exposure to the S&P 500® Index, and power trading strategies that can help manage portfolio risk and target increased income.

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Key Features

SPX options' unmatched liquidity give you the opportunity to gain exposure to the broad market and manage portfolio risk to achieve powerful outcomes.

Efficient Exposure

Gain exposure to the broad market with a notional value 10X larger than SPY options for potentially lower transaction costs.

Hedge Risk

Gain a convenient and efficient way to help reduce the risk of a market portfolio or increase risk-adjusted returns.

Potentially Favorable Tax Treatment

Many SPX options trades qualify for 60-40 tax treatment, as they are defined as Section 1256 contracts.*

Cash Settlement & European - Style Exercise

Avoid unwanted delivery of stocks or ETFs, and the risk of assignment prior to expiration (so-called "early assignment").

Watch Now to Learn More about Trading SPX

Learn how SPX options offer powerful methods of hedging downside risk and generating income.

Tools For Trading SPX

Now that you're familiar with SPX options, see how you can add them to your portfolio with CBOE’s trading tools.

  • Virtual Trade

    Practice trading SPX with this free tool - and experiment with new advanced strategies without risk to your portfolio.

  • Quotes Dashboard

    See the most recent market quotes for SPX. And monitor the market from one easy-to-use page with features including a market scanner, most active stocks, options and futures, news and more.

SPX On Social

Want to know the latest happening in the broad market and SPX options?

Join the conversation with $SPX on Twitter.

Content provided by third party Twitter® users - CBOE does not screen, control, monitor or endorse such content which solely represents the views of such users.

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*Under section 1256 of the Tax Code, profit and loss on transactions in certain exchange-traded options, including SPX, are entitled to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the investor involved and the strategy employed satisfy the criteria of the Tax Code. Investors should consult with their tax advisors to determine how the profit and loss on any particular option strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options. Copies are available from your broker or from The Options Clearing Corporation at www.theocc.com. The information on this website is provided solely for general education and information purposes. No statement within this website should be construed as a recommendation to buy or sell a security or to provide investment advice. Supporting documentation for any claims, comparisons or other technical data, will be supplied upon request.

CBOE®, Chicago Board Options Exchange® and Execute Success® are registered trademarks of Chicago Board Options Exchange, Incorporated (CBOE). S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC and have been licensed for use by CBOE. Financial products based on S&P indices are not sponsored, endorsed, sold or promoted by Standard & Poor's, and Standard & Poor's makes no representation regarding the advisability of investing in such products. All other trademarks and service marks are the property of their respective owners. Copyright © 2016 CBOE. All rights reserved.