Cboe derivatives volumes hit October records as index options trading accelerates
Cboe Global Markets posts record October activity across its global derivatives business, led by strong demand for proprietary index options and extended-hours trading. The gains include new monthly average daily volume highs in SPX and XSP contracts, underscoring continued momentum in U.S. equity derivatives trading.
Highlights
- Cboe sets October records with global derivatives monthly average daily volume at 6.9 million index option contracts, including SPX at 5.5 million ADV.
- SPX zero-days-to-expiry options reach a record average daily volume of 3.58 million contracts, while Mini S&P 500 Index Options post 303,000 ADV.
- Global Trading Hours see record ADV of 283,600 contracts, with SPX and XSP posting 232,900 and 35,800 ADV respectively, and proprietary products making up 70.3% of floor volume.
October volume records across index options
According to Cboe, Cboe Global Markets said October is a record month for its global derivatives business, with proprietary index options reaching a monthly average daily volume of 6.9 million contracts.The exchange operator said S&P 500 Index Options, or SPX, post a record monthly ADV of 5.5 million contracts, while SPX zero-days-to-expiry options reach a record ADV of 3.58 million contracts. Mini S&P 500 Index Options, or XSP, also set a monthly ADV record at 303,000 contracts.
Cboe added that October 16 marks a record day for proprietary index options trading with 10.44 million contracts traded, while October 30 is the second-strongest day with 10.17 million contracts traded.
Extended-hours growth and floor activity
Global Trading Hours also deliver a record month, with average daily volume of 283,600 contracts traded. Cboe recently expands Global Trading Hours for five ETFs and 24 single stocks on October 19, 2026.During Global Trading Hours, SPX and XSP each post record months with ADV of 232,900 and 35,800 contracts, respectively. From Cboe's trading floor in Chicago, SPX accounts for 43.1% of floor ADV, while SPX open outcry ADV stands at 727,356 contracts.
Cboe said its proprietary products represent 70.3% of floor volume, highlighting the importance of in-house derivatives products to overall trading activity.
We have previously noted rising reversal risk in our SPX technical outlook as the S&P 500 tested resistance near 7,737.
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