Cboe Reports Record Trading Volumes Amid Surge in Index Options

The Chicago-based exchange operator saw its quarterly average daily volume (ADV) for index options climb to 6.2 million contracts, with the S&P 500 Index (SPX) options hitting a record 5.1 million ADV for the second quarter. The appetite for short-term hedging remained particularly strong, as SPX zero-days-to-expiry (0DTE) options reached a monthly ADV record of 3.3 million contracts in June.

Beyond index derivatives, Cboe’s multi-listed options segment delivered a record monthly ADV of 16.6 million contracts. The firm also provided preliminary second-quarter revenue guidance, estimating a net capture of $0.953 per index option contract. While these figures remain subject to final audits, they underscore a period of intensified trading activity across Cboe’s global platform, which spans equities and FX markets alongside its core derivatives business.