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Forward-Thinking Options Trading
Cboe Index Options
What are S&P 500® Index Options?
Cboe S&P 500 index options products provide investors with the tools to gain efficient exposure to the U.S. equity market and execute risk management, hedging, asset allocation, and income generation strategies.
SPX®
The most liquid equity index options in the U.S., SPX is a standard options contract that tracks the S&P 500 index.
XSP®
A smaller-sized options contract, at 1/10th the size of SPX, XSP tracks the large cap S&P 500 index.
Compare your Options
Cboe Index Options |
Stock & ETF Options |
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Standard and Mini Contracts |
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Cash Settlement |
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European Exercise |
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60/40 Tax Treatment* |
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Global Trading Hours** |
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Standard ContractsCboe Index Options |
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Standard and Mini Contracts |
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Cash Settlement |
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European Exercise |
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60/40 Tax Treatment* |
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Global Trading Hours** |
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Stock & ETF Options |
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Standard and Mini Contracts |
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Cash Settlement |
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European Exercise |
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60/40 Tax Treatment* |
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Global Trading Hours** |
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*Under section 1256 of the Tax Code, profit and loss on transactions in certain exchange-traded options, including SPX Options, are entitled to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the investor involved and the strategy employed satisfy the criteria of the Tax Code. Investors should consult with their tax advisors to determine how the profit and loss on any particular option strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations.
**Global Trading Hours (GTH) The trading hours for options on the SPX, SPXW (SPX Weeklys and SPX End-of-Month), and XSP (Mini-SPX) begin at 8:15 p.m. Eastern time and end at 9:25 a.m. Eastern time. Please visit the Hours & Holidays page for more details.
There are important risks associated with transacting in any of the Cboe Company products or any digital assets discussed here. Before engaging in any transactions in those products or digital assets, it is important for market participants to carefully review the disclosures and disclaimers contained at: www.cboe.com/us_disclaimers/. These products and digital assets are complex and are suitable only for sophisticated market participants. These products involve the risk of loss, which can be substantial and, depending on the type of product, can exceed the amount of money deposited in establishing the position. Market participants should put at risk only funds that they can afford to lose without affecting their lifestyle.