Cboe Reports Record Index Option Volumes for September

The Chicago-based exchange operator reported a monthly average daily volume (ADV) of 6.4 million contracts for its index options, marking a 22.3 percent increase compared to September 2025. This momentum was largely fueled by S&P 500 (SPX) index options, which saw record-breaking activity in zero-days-to-expiry (0DTE) contracts. Monthly ADV for SPX 0DTE options reached a peak of 3.4 million contracts, while the mini-SPX (XSP) equivalent hit a record 165,000 contracts for the same period.

Beyond index derivatives, Cboe’s multi-listed options exchanges maintained steady activity with an ADV of 15.4 million contracts. The company also saw significant growth in its global foreign exchange business, which climbed 26.6 percent year-over-year to 66.4 billion dollars in ADV. These gains come as the company continues to refine its portfolio, having finalized the divestiture of Cboe Australia to TMX Group earlier this summer. Looking ahead, Cboe provided preliminary guidance for the third quarter, projecting a net revenue capture per contract for multi-listed options at 0.052 dollars.