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Forward-Thinking Options Trading
Insights and Education
Unlock New Trading Possibilities with Index Options
You may be familiar with options trading, but do you know how index options differ from stock and ETF options, and their unique benefits? If not, start here.
Know Your Options: Stocks vs. Stock Options vs. Index Options
Know Your Options
Stocks vs. Stock Options vs. Index Options
What are index options and how do they compare to stocks and stock options? Learn about their differences and how index options may offer more potential benefits.
Learn MoreGet Started: How to Place a Basic Index Options Trade
Get Started
How to Place a Basic Index Options Trade
Ready to get started trading? If you know how to trade options, you may already know how to trade index options. Check out this explainer on how to place a basic trade, and what happens after expiration as the market moves.
See How
Know the Facts: Dispelling the Myths of Index Options
Know the Facts
Dispelling the Myths of Index Options
Ready to explore the finer details of index options? Follow us as we walk you through these common myths debunked by facts about index options.
Get the FactsYou could benefit From index options
Cash Settlement
Your trading account is credited or debited in cash, with no delivery of unwanted shares or market exposure.
Global trading hours
React to market news around the clock with 24/5 trading.
Flexibility
Index options are offered in standard and mini contract sizes with multiple expiries, you have choices.
Tax treatment
Profits are taxed as 60% long-term capital gains rates and 40% short-term capital gains rates, regardless of how long positions are held, for potential better tax treatment.
European Style
Options exercise only at expiration, unlike American style — eliminating risk of early exercise or assignment.
Certainty of settlement
There is no contra exercise risk, or the risk that an option will be exercised OTM after market close, eliminating potential tax and economic risk for writers.
Keep Learning with The Options Institute
Backed by Cboe Global Markets®, The Options Institute provides options education for seasoned traders as well as those just getting their feet wet. Learn via on-demand courses, articles, and videos or sign up for a live class with an OI instructor to get your questions about the Greeks, volatility, and strategies answered.
Explore More
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.