Cboe Plans To List SPX Tuesday, Thursday-Expiring Weeklys Options

Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today announced plans to list S&P 500 Index Weeklys options with Tuesday and Thursday expirations in the second or third quarter of 2022, subject to regulatory review.

With these planned new listings, Cboe will offer SPX Weeklys options with expirations on every trading day of the week, providing traders with additional tools to help manage their short-term U.S. equity market exposure and execute trading strategies with even greater frequency, precision and flexibility.

The S&P 500 Index (SPX) options market is one of the most actively traded and liquid options markets across the globe. S&P 500 Index Weeklys (SPXW) are similar to standard monthly SPX options but are shorter-in-term, with weekly expirations.

Cboe currently offers SPX Weeklys with three different expirations a week: Monday, Wednesday and Friday. The new SPX Tuesday and Thursday-expiring Weeklys will generally have the same characteristics as existing SPX Weeklys options, with the exception of their listing and expiration dates.

"S&P 500 Index options have served investors well for years, providing risk management, hedging, asset allocation and income generation opportunities," said Ed Tilly, Chairman, President and CEO of Cboe Global Markets. "Weeklys options in particular allow investors to gain more targeted exposure to market events and manage their positions with greater flexibility to keep pace with movements in the broad U.S. equity market. As interest in short-term options trading continues to grow, we are pleased to expand our SPX product suite with these new listings to meet customer demand."

Total U.S. exchange-listed options volume reached 9.9 billion contracts in 2021, the highest annual volume on record, and up 32 percent compared to 20201. Notably, with this growth in volume, an increasing number of options trades have been in short-dated contracts that expire within five days or less. According to Cboe data, options contracts expiring within five days of trade-date comprised approximately 46 percent of total options flow in 2021, nearly double the amount traded in 2017.

SPX options are exclusively listed on Cboe Options Exchange.  A total of 345 million SPX options contracts were traded in 2021, with an average daily volume (ADV) of 1.4 million contracts. Total volume in SPX Weeklys options was approximately 247 million contracts in 2021, with an ADV of more than 981,000 contracts, accounting for nearly 72 percent of total SPX trading volume.

Cboe pioneered short-term options trading in 2005 by introducing the first weekly expiring options contract.  Except for more frequent expiration dates, Weeklys generally have the same contract specifications as monthly expiring contracts.

Cboe's exclusive suite of S&P DJI Index options include S&P 500® Index (SPX) options, with P.M. settled weekly and monthly expiring contracts and standard (monthly/3rd Friday/A.M.- and P.M.-settled), Mini-S&P 500 Index (XSP) options, with P.M. settled weekly and monthly expiring contracts, and standard options on the S&P 500 ESG Index options and certain S&P Select Sector Indices with monthly expiring contracts. All SPX Weeklys and standard SPX options trade during global and regular trading hours. To learn about Cboe's proprietary index options products, visit www.cboe.com/tradable_products.