SPX® Options Positioning Reverses as FOMO Sets In
CBOE’s Macro Volatility Digest shows implied volatility across asset classes fell to long‑term averages as optimism grew over a potential US‑Iran peace deal. Oil options still exhibit an inverted call skew, signaling lingering conflict risk despite the broader calm. Since April 8, SPX 1‑month call skew surged to the 90th percentile while put skew dropped to the 15th, reflecting FOMO‑driven buying. Retail traders now dominate the Cboe Magnificent 10 index options, with 0‑day‑to‑expiration contracts accounting for 32% of April volume.
Cboe Launches Two New Indices in Q1 2026
Cboe Global Indices introduced two new rule‑based products in Q1 2026: the Cboe Validus Russell 2000® Dynamic PutWrite Index (RUTD) and the Cboe Validus Russell 2000® Dynamic BuyWrite Index (CALRD). RUTD overlays short‑dated put options on the Russell 2000 with cash collateral earning the...
Market Metrics That Matter: Cboe FX March Volume Highlights
Cboe FX posted a record‑breaking Spot Average Daily Volume of $74.5 billion in March 2026, a 42.9% jump from a year earlier. The platform also set single‑day highs of $109.1 billion on March 3 for Spot and $6.7 billion on March 6 for its SEF. ECN Firm...
Market Metrics That Matter: Derivatives March Volume Highlights
Cboe reported record-breaking derivatives activity in March 2026, with index options averaging 6.9 million contracts daily, cementing a historic first‑quarter volume. S&P 500 (SPX) options hit a 5.4 million contract ADV, while mini‑SPX (XSP) and Bitcoin ETF (CBTX) options set new monthly highs....
SPX® Call Demand Jumps on TACO Optimism
The Cboe Macro Volatility Digest reported that the VIX Index jumped 4.3 points to 31, its highest level since last April, while the broader options market remained relatively calm. The SPX Index fell 3.4% on Thursday and Friday, yet call...
Gold Loses Its Luster as Stagflation Risk Jumps on Iran War
Gold’s price has slumped more than 15% this month as stagflation concerns surge following the Iran war, and the market now assigns roughly a 30% chance of a Fed rate hike by year‑end, up from expectations of multiple cuts a...
SPX Box Spreads: What Every Advisor Should Know
Advisors are increasingly considering SPX short box spreads as an alternative financing tool. The strategy involves a four‑leg options package that delivers cash today in exchange for a known liability at expiration, effectively acting like a zero‑coupon bond. Because SPX...
Market Metrics That Matter: Derivatives February Volume Highlights
Cboe reported record February trading activity across its derivatives platform. S&P 500 index options (SPX) posted a historic average daily volume of 4.75 million contracts, with zero‑days‑to‑expiry (0DTE) trades accounting for 63% of that flow. Mini‑S&P 500 (XSP) and Russell 2000 (RUT) options also...
Cross-Asset Vols Spike on Iran Risk as Oil Surges
Cross‑asset implied volatilities surged after U.S. and Israeli strikes on Iran, with oil 1‑month vol jumping 7 points and the skew inverting through the 6‑month curve – a pattern last seen during the 2022 Russia‑Ukraine war. Credit volatility also spiked,...
SPX Skew Steepens to 1Y High as Tariff Uncertainty Rises
Cboe’s Macro Volatility Digest shows SPX 1‑month options skew climbing to its highest level in a year. The steepening reflects heightened uncertainty from evolving U.S. tariff policy, geopolitical tensions and lingering AI concerns, while oil volatility spiked to 52%. Equity...
SPX Skew Steepens to 1Y High as Tariff Uncertainty Rises
The Cboe report shows the S&P 500 1‑month skew surged to a one‑year high, reflecting heightened demand for downside protection as tariff policy uncertainty intensifies. Oil implied volatility spiked to 52% after fears of a US‑Iran conflict, while equity and rates...