Capital Efficiency and Precise Portfolio Management

Cboe Equity Index Derivatives Suite

Gain capital-efficient exposure to U.S. and global markets with Cboe's equity index options and futures. Hedge risk and optimize strategy with S&P 500, FTSE Russell, MSCI, and more.

Equity Index Derivatives Suite

Hedge global market exposure on leading benchmarks including S&P 500, Russell, MSCI, and Dow Jones indices. From domestic large-cap to international risk management, find the right tools for every strategy.

S&P 500

Gain exposure to the leading large-cap equity index to hedge, generate income, and manage portfolio risk with precision. Multiple contract sizes and structures provide flexible position sizing and capital efficiency.

  • SPX: S&P 500 Index Options
  • XSP: Mini-S&P 500 Index Options
  • NANOS: S&P 500 Nanos Index Options
  • SPXW: S&P 500 Weeklys Options
  • SPEQX: S&P 500 Equal Weight Index Options
  • SPESG: S&P 500 Scored & Screened Index Options
  • VA: S&P 500 Variance Futures

Russell

Access the full market capitalization spectrum from large-cap to small-cap growth potential. Essential tools for balanced portfolio construction and tactical tilts across investment styles.

  • RUT: Russell 2000 Index Options
  • MRUT: Mini-Russell 2000 Index Options
  • RUI: Russell 1000 Index Options
  • RLG: Russell 1000 Growth Options
  • RLV: Russell 1000 Value Options

MSCI

Benefit from a suite of cash-settled options for hedging international equity exposure, accessing global market growth, and diversification.

  • MXEA: MSCI EAFE Index Options
  • MXEF: MSCI Emerging Markets Index Options
  • MXACW: MSCI ACWI Index Options
  • MXWLD: MSCI World Index Options
  • MXUSA: MSCI® USA Index Options

Dow Jones

Capitalize on blue-chip stability and dividend yield strategies while managing concentrated position risk.

  • DJX: Dow Jones Industrial Average Index Options

Key Resources

Explore specifications, strategy briefs, and other materials for optimal use of Equity Index Derivatives.

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The Latest

The State of the Options Industry: 2025

2025 was the sixth consecutive record year for U.S. listed options. Unprecedented industry participation was driven by strong equity performance, bouts of elevated volatility and increased retail and institutional flow. Total options volume topped 15.2 billion contracts in 2025, 26% above 2024 — the previous record.

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Derivatives Market Research

Making Sense of Variance Futures: A Quick Guide for Traders

Natalie Reed, Senior Director, Derivatives Sales, answers frequently asked questions about Cboe's S&P 500 Index Variance Futures.

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The Latest

Metrics That Matter: Derivatives

S&P 500 Index Options (SPX) set multiple monthly Average Daily Volume (ADV) records including 4.57 million SPX contracts overall, up 4% from October. 2.85 million zero-days-to-expiry (0DTE) SPX options contracts were traded in November, a 7% increase from October.

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