Power Tools for
At the heart of the Cboe S&P 500 Toolkit lies a deep pool of liquidity linked to the pulse of the S&P 500. With S&P 500 (SPX) index options at the cornerstone, the most liquid equity index options market underpins a robust pricing network for the other instruments within the suite.
Explore our growing suite of proprietary products to access different risk exposures, tenors and contract sizes. Whether it’s precision, efficiency, or versatility, Cboe has what you’re looking for.
Discover the S&P 500 Toolkit
The most actively traded and liquid index options in the world. SPX unlocks the full potential of risk management strategies based on the S&P 500.
Flexibility and Precision
At 1/10 the size of the classic SPX, XSP provides more precision and granularity for scaling exposure to the S&P 500.
With VIX options, hedge portfolio volatility risk distinct from market price risk and express your view of the future direction of volatility.
Pure Play on Volatility
With VIX futures, express your view on or hedge against expected volatility in the market.
Agile Risk Management
At 1/10th the size of the standard VIX futures contract, Mini VIX futures offers additional flexibility in volatility risk management and greater precision when allocating among smaller managed accounts.
Volatile markets, meet versatile strategies
Key benefits of the S&P 500 toolkit
One Access Point
Enjoy the convenience and efficiency of executing Cboe options and futures with one clearing house and one executing broker.
Empower Decision Making
Guide your trading decisions with real-time market indicators, premier education and expert analysis.
Trade Anytime, Anywhere
Seize an opportunity whenever it strikes. Trade the suite of Cboe S&P 500 tools nearly 24 hours, 5 days a week, in every time zone — U.S., Europe and Asia.
Get the Edge
You've Been Looking For
For nearly five decades, asset owners and investment managers have relied on Cboe tools as the tried and trusted solution for mastering risk. Discover how our institutional clients, from hedge funds to insurers, pensions, and RIAs, have harnessed the power of the instruments within the Cboe S&P 500 Toolkit to achieve their investment goals. Select from the portfolio objectives below to view the whitepapers.
The rise of OTC and structured exotic derivatives in the 1990s and 2000s, facilitated by aggressive risk-taking by growing investment banks, brought a rapid rise in complexity. With that complexity came new inefficiencies that cutting-edge managers of the time were able to exploit. But that complexity also brought growing risks. This whitepaper traces that evolution of the history of the derivatives markets from a relative value volatility arbitrage manager perspective, pointing out the risks and opportunities that each cycle has brought.QVR Advisors — Evolution of Derivatives Markets and Arbitrage
Maximize Every Trade
Fine tuning trading strategies
How you implement your trading strategies can be the defining factor in your success. Created by Cboe Labs, our suite of indices unlocks the keys to a deeper understanding of term structures, market sentiment dynamics and the ability to spot outliers.
Gain invaluable insights and make more informed decisions around positioning and timing your trades by exploring our real-time indicators below.
Cboe S&P 500 Dispersion Index
The Dispersion Index provides an indicator for the market’s expectation of the magnitude of idiosyncratic movements in S&P 500 constituent prices over the next 30 days.
The leading indicator of expected market volatility.
Implied Correlation Term Structure
Reflects changes in relative premium between SPX index options and single-stock options.
Harness The Knowledge.
Wield The Power.
Engage with the experts
At Cboe, we’re dedicated to helping you navigate any market conditions by providing cutting edge solutions and premier education. Engage with product innovators and world-class experts on how to use our tools, analyze markets and get ready to take your investment outcomes to new heights.