- SPX Tuesday-expiring WeeklysSM options available for
trading beginning April 18;
Thursday-expiring options available beginning May 11
- Additional offerings build on success of Cboe's existing SPX
Weeklys options; will now provide expirations every trading day of
the week
- With more weekly-expiring options, investors can now trade,
hedge and express their views with even greater flexibility and
precision
CHICAGO, April 13,
2022 /PRNewswire/ -- Cboe Global Markets, Inc.
(Cboe: CBOE), a leading provider of global market infrastructure
and tradable products, today announced it will list S&P 500
Index (SPX) Weeklys optionsSM with Tuesday expirations
beginning Monday, April 18, and
Thursday expirations beginning Wednesday,
May 11. These new listings build on the success of Cboe's
popular SPX Weeklys options, which currently include Monday,
Wednesday and Friday-expiries, and will expand the product suite to
provide expirations every trading day of the week.
The SPX options market is one of the most actively traded and
liquid options markets across the globe. SPX Weeklys options are
similar to standard monthly SPX options but shorter in term, with
weekly expirations.
"When Cboe launched its first SPX Weeklys options contract in
2005, we introduced a completely new concept to the market that has
since broadened the options landscape, and the way that options can
be used to manage volatility risk," said Arianne Adams, Senior Vice President and Head of
Derivatives and Global Client Services. "SPX Weeklys provide an
efficient way for investors to execute targeted buying, selling or
spreading strategies, and the growth we have seen in trading
volumes is a testament to the tremendous utility of these products.
With these new Tuesday and Thursday expiries, we are pleased to
further expand our offerings as demand for short-dated options
strategies has grown."
Since launch, SPX Weeklys options have grown to become one of
Cboe's most-actively traded products. A total of 247 million SPX
Weeklys options contracts were traded in 2021, with an ADV of more
than 981,000 contracts, accounting for nearly 72 percent of total
SPX options trading volume.
Cboe has received positive feedback from a broad range of market
participants, including banks, broker-dealers, market makers and
trading firms, that are existing users of SPX Weeklys options and
expected to help contribute to the provision of liquidity in the
new Tuesday- and Thursday-expiring SPXW options at launch.
Paul Jiganti, Managing Director
of Business Development at IMC, said: "The new Tuesday and Thursday
weekly expirations are a great addition to Cboe's highly successful
and fast-growing SPX Weeklys product. Investors around the globe
will now have 24/5 access to SPX options with an available
expiration each and every day of the week. We expect the
offering to appeal to retail and institutional investors looking to
execute trading strategies with greater flexibility and
precision. IMC looks forward to providing liquidity in this
innovative and exciting product."
Rutger Brinkhuis, CEO of Optiver
US, said: "Tuesday and Thursday expiries are a natural next step
for users of SPX weekly options. Market impacting events, such as
elections and corporate earnings releases, can occur throughout the
week. The additional expiries will allow investors to roll their
positions on more trading days and more accurately manage their
risk. This ability to fine-tune hedging or trading strategies has
helped turn SPX weekly options into one of the most widely utilized
and liquid short-term contracts in the options market."
Benn Eifert, CIO of QVR Advisors,
said: "Same-day options allow market participants like QVR to
manage their gamma exposures more precisely and allow clean
separation of overnight volatility risk from intraday volatility
risk."
Similar to SPX options, SPXW options are European-style options
(no early exercise) and cash-settled (no delivery or assignment of
shares) at expiration with P.M. settlement. The new Tuesday- and
Thursday-expiring SPXW options will generally have the same
characteristics as existing SPXW options, with the exception of
their listing and expiration dates.
SPX Weeklys and standard SPX options trade during global and
regular trading hours, allowing market participants globally to
adjust their positions and manage risk around the clock, on every
business day.
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 options
(monthly/third-Friday/A.M.- and P.M.-settled), Mini-S&P 500
Index (XSP) options, with P.M.-settled weekly and monthly expiring
contracts, and one-multiplier Nanos options, which are
1/100th the size of XSP options and available to trade
based on the value of the SPX. Cboe also offers standard options on
the S&P 500 ESG Index options and certain Select Sector Indices
with monthly expiring contracts, in addition to options on the
S&P 100® Index. To learn about Cboe's SPX Weeklys options,
please visit the website.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market
infrastructure and tradable products, delivers cutting-edge
trading, clearing and investment solutions to market participants
around the world. The company is committed to operating a trusted,
inclusive global marketplace, providing leading products,
technology and data solutions that enable participants to define a
sustainable financial future. Cboe provides trading solutions and
products in multiple asset classes, including equities, derivatives
and FX, across North America,
Europe and Asia Pacific. To learn more, visit
www.cboe.com.
Media
Contacts
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Analyst
Contact
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Angela
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Tim
Cave
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Kenneth Hill,
CFA
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+1-646-856-8734
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+44 (0)
7593-506-719
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1-312-786-7559
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atu@cboe.com
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tcave@cboe.com
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khill@cboe.com
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CBOE-OE
CBOE-O
Cboe®, Cboe Global Markets®, and WeeklysSM
are registered trademarks of Cboe Exchange, Inc. The S&P 500
Index is proprietary to S&P Dow Jones Indices LLC.
S&P®, S&P 500®, S&P 100®, SPX®, SPY®, Select Sector®
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SOURCE Cboe Global Markets, Inc.