Subscribe and stay up to date with our latest Insights.
U.S. equities pulled back in October as a month-end selloff erased early gains and mega-cap technology gave back its recent lead. The S&P 500 Index (SPX) fell 0.9% to 7,580.07, up 10.7% year-to-date after touching highs near 7,819 on October 6.
While equities sold off last week on disappointing Tech earnings, implied vols were fairly muted across asset classes. Learn more in this week's Macro Volatility Digest.
New Global Trading Hours (GTH) and Curb sessions for options on 24 of the most active single stocks and five ETFs went live on Monday, October 19 with a smooth rollout of electronic trading on Cboe Options Exchange (C1) and NYSE American Options.
Options activity moderated in the third quarter of 2026 as macroeconomic factors including higher interest rates and energy costs impacted equities. Market-wide average daily option volume (ADV) was 70.6 million contracts daily, four percent below the record levels seen in the second quarter.
September was a strong month for Cboe’s Global Derivatives business with a quarterly multi-list Average Daily Volume (ADV) of 15.3 million contracts across its four options exchanges, the second-best multi-list quarter.
In September 2026, Cboe FX Spot Average Daily Volume (ADV) reached $61.6 billion, a 25.6% increase versus September 2025's ADV of $49.1 billion.
Total Consolidated Volume (TCV) averaged 16.9 billion shares in September, up slightly from August but down from June’s historical high of 23.3 billion shares.
Although European equity trading volumes declined from July levels, it was the strongest August on record, with trading activity shifting towards closing auctions following the MSCI rebalance.