Market Metrics That Matter: Derivatives July 2026 Volume Highlights

July was another strong month for Cboe’s Global Derivatives business with an Average Daily Volume (ADV) of 21.7 million contracts traded. Total Consolidated Volume (TCV) in the overall options industry had an ADV of 70.48 million contracts monthly.

Global Trading Hours Record Month

• Global Trading Hours (GTH), 8:15 p.m. to 9:25 a.m. ET, had a record monthly ADV of 224,000 contracts.
• S&P 500^® Index Options (SPX) GTH set a monthly ADV record of 197,000 contracts.
• July 23 was the third-best day for SPX^® GTH with 288,500 contracts traded.
• Mini-S&P 500 Index Options (XSP) had an ADV of 22,600 contracts.
• July 8 was the third-best day for XSP^® GTH with 37,900 contracts traded.
• Russell 2000^® Index Options (RUT) had a monthly ADV of 1,046 contracts.
• RUT GTH set a record day on July 23 with 2,581 contracts traded.

U.S. Index Options

• July was a record month for XSP with 238,000 contracts traded.
• XSP zero-days-to-expiry (0DTE) options contracts had a monthly ADV of 138,000 contracts traded.
• SPX 0DTE options as a portion of total SPX volume grew to a record high of 66.2%.

News and Insights

• Perpetual Futures versus 0DTE Options: Head to Cboe Insights to dive deeper into the difference between perpetual futures and 0DTE options, understanding payoff structure, risk and investor behavior.
• Cboe Global Markets Reports Trading Volume for July 2026
• Cboe Options to List KPI Binary Options

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