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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.
The options market is moving faster, tools are getting better, and discipline matters more than ever. Tradier’s TraderFest, sponsored by Cboe, recently brought together traders and industry leaders to discuss topics just like this.
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.
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.
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.
The U.S. equities market volume increased in May after a pullback in April. Total Average Daily Volume (ADV) increased 8.87% to 19.4 billion shares. The increase in volatility brought investors back to displayed markets, with Cboe EDGX Equities Exchange (EDGX) benefitting. EDGX saw growth across retail trading, Quote Depletion Protection (QDP) and Retail Price Improvement (RPI) orders. Addressable market share increased to 8.6 billion shares, with Cboe’s market share growing to 21.1%.
In May 2026, Cboe FX Spot Average Daily Volume (ADV) reached $54.9 billion, a 14.4% increase from $48.0 billion in May 2025. Cboe SEF ADV topped $4.8 billion, representing a 54.5% increase from May 2025's ADV of $3.1 billion. Cboe SEF also observed a new single-day record of $7.2 billion on May 5.
European equity trading volumes shifted towards Dark order books, Periodic Auctions and Systematic Internalisers during April. Cboe Europe maintained its position as the largest European exchange by market share, delivering strong performance across its diverse range of execution mechanisms.
