- Dow Jones Industrial Average index (DJX) options now have contracts expiring every trading day
- Exclusively listed on Cboe, DJX options are based on index 1/100th the size of Dow Jones Industrial Average
- Expansion of expirations reflects growing demand for short-dated index options trading strategies
Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, today announced the expansion of its Dow Jones Industrial Average® index (DJX) options suite with the addition of daily expiring options, effective May 18, 2026.
DJX options are exclusively listed and traded on Cboe Options (C1) and Cboe C2 Options (C2) exchanges and provide investors access to one of the oldest and most widely followed equity indices, the Dow Jones Industrial Average (DJIA®), which measures the performance of 30 blue-chip U.S. companies. DJX options are based on 1/100th of the DJIA level, providing a more efficiently sized contract for traders to manage their notional exposure with greater flexibility and precision. As of March 31, 2026, DJX index options had an open interest representing more than $472 million in notional value.
"We have seen that investors are increasingly utilizing index options for their shorter-dated strategies, and Cboe is proud to broaden our product lineup across different types of market exposures and index constructions to include daily expiring options on a household-name such as the Dow Jones Industrial Average," said Meaghan Dugan, Head of U.S. Derivatives at Cboe. "For decades, The Dow® has been a closely watched gauge of market performance. By adding daily expirations, traders have another tool to help hedge or implement yield strategies with DJX options to complement or augment their existing strategies."
Cboe offers daily expirations for several of its proprietary index options, including S&P 500 Index® (SPX®) options, mini-SPX (XSP) options, Russell 2000 Index (RUT) options, Cboe Magnificent 10 Index (MGTN) options, Cboe Bitcoin U.S. ETF Index (CBTX) options and Cboe Mini Bitcoin U.S. ETF Index (MBTX). Shorter-dated or zero-days-to-expiration (0DTE) trading has grown significantly in recent years, driven in part by increased retail adoption and the demand for daily hedging, income generation or directional strategies without overnight risk exposure. In the first quarter of 2026, 0DTE trading represented a record 50.11% of all index options trading on Cboe's options markets.
Cboe has secured broad industry support for the expansion of the DJX options suite, including from major U.S. and international retail brokers.
Robert Ross, Chief Commercial Officer at S&P Dow Jones Indices, said: "We are delighted to deepen our collaboration with Cboe to license the Dow Jones Industrial Average for index (DJX) options with daily expirations, responding to the demand from investors for more agile and transparent risk-management trading solutions. With the 1/100th contract size and cash settlement, these options help democratize access to DJX blue-chip index trading, empowering traders of all levels to execute swift, precise strategies with greater ease and confidence."
Abhishek Fatehpuria, VP of Product Management at Robinhood, said: "As retail traders become more sophisticated, we're seeing them take a more active approach to managing short-term market exposure. Cboe's addition of daily expirations for DJX options reflects this demand and gives customers another precise tool to help them manage risk and express near-term views."
Jeff Shi, Regional Director of Futu Securities, said: "Futu helps investors access global markets with fast execution, real‑time data, and powerful trading tools, making it easier for our clients to respond to market opportunities. We have seen strong and growing interest among our clients in short‑dated options strategies, from weekly expirations to daily expirations, particularly as investors seek more precise tools to manage risk and capture short‑term opportunities. The introduction of daily expirations for DJX options is a timely enhancement that broadens the toolkit available to both retail and active traders, and we believe this product will further support the increasing demand for flexible, capital‑efficient exposure to the Dow Jones Industrial Average."
Wolverine Trading said: "As a leading liquidity provider, Wolverine Trading is pleased to serve as the Designated Primary Market-Maker (DPM) in DJX options, helping to expand trading opportunities in an index as recognizable and tracked as the Dow. Short-dated trading strategies have shifted the way many participants generate income and manage risk. With its price-weighted structure of 30 blue chip constituents, and now the availability of daily expirations in European-style, cash-settled options, DJX options may offer unique appeal to U.S. and foreign investors."
Index options are designed to offer the benefits of cash-settlement, which means accounts are debited or credited in cash and there is no physical transfer of shares, and European-style exercise – meaning options expire on their expiration date and there is no risk of early assignment. We believe these important contract dynamics, along with the mitigation of contra-exercise risk, make index options desirable for daily trading strategies and precise risk management.
Cboe began listing P.M.-settled DJX options expiring Monday to Thursday (options symbol: DJXW) on May 18. The DJXW options are in addition to the existing Friday P.M.-settled weekly contracts and third Friday A.M.-settled monthly contracts. DJX options are available to trade from 9:30 a.m. ET to 4:15 p.m. ET, Monday through Friday.
For more information, visit DJX Index Options.
