Subscribe and stay up to date with our latest Insights.
We’re walking into a weighty week of potential market-moving events on nearly every corner. Investors will be focused on a number of mega-cap earnings reports and a Federal Reserve meeting that could surprise and/or disappoint.
As the largest U.S. options exchange operator, Cboe's pool of derivatives data and proprietary pricing algorithms enable its Global Indices team to develop complex index concepts that are central to Cboe’s ecosystem. Read on for a recap of the Cboe Global Indices launches and milestones achieved in the second quarter of 2026.
Implied volatilities were mixed across asset classes last week as oil prices spiked on renewed geopolitical tensions. Learn more in this week's Macro Volatility Digest.
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.
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.
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.
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.
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.
