CBOE

EmpathyFabrication

Go to the website of the exchange where the option is listed and navigate to the option ticker and then look for "exercise style." On CBOE it's on the "fact sheet." Or your brokerage program also has it listed somewhere on the options page.

Consistent_Panda5891

So you check CBOE and not CME. Highly regarded. Btw today at 8.30 most bullish jobs report ever. Did you see yesterday DJT live speech? I will personally assure financial oil doesn't spike further. I recently achieved DOW 50k, also a highest S&P, you know, people said those where 4y goal and I did it in one. You know we are in the golden age 🪙 lmao

noinluence

For historical options data at a low cost, free options are extremely limited. You might try CBOE for sample data or use brokerage exports. Most detailed options datasets cost money because exchanges charge for it. Sadly there is no secret free full database.

yatruthordare

at the very least wait for the macros to signal time to buy/ VIX closing multiple times above 35 - then drops while equities still drop, EOD put/call ratio greater than 1.2 ( you can see this on CBOE website), and then confirm the nav price is a nice 20% or so below 200 Day SMA going now with the war still going is a huge risk… efts are not at thier lows yet … and even once over we still have a problem with inflation and a possible credit crisis…. just saying -do not go lightly…

According-Page8618

https://www.tradingview.com/symbols/CBOE-IGV/?timeframe=60M buy IGV and forget about it for 2-3 months and enjoy +20%.

Interesting-Iron2587

CBOE pumpin’

Ribargheart

Vix is a CBOE psyop just trade shit with real price moment. If you can close out for a profit.

Hot_Delivery5122

Normally, VIX monthly futures/options settle on Wednesday morning (30 days before the next month’s SPX expiration), but holidays can obviously change this schedule around. If there was a market holiday impacting SPX options settlement, then the VIX expiration could move one day earlier. This could be why you're not seeing the usual Wednesday activity. Also, make sure you're checking the standard monthly and not the weeklies – sometimes it looks like no one is around if you're not on the correct contract. TBH, VIX settlement is kinda weird, so it's worth checking the CBOE website to ensure you're on the correct schedule.

d33p7r0ubl3

CBOE needs to get off their ass and allow 24/5 options trading

d33p7r0ubl3

I need to start trading futures derivates. Tired of missing moves while CBOE is closed

sport912x

What broker? I think I can get finders fee for reporting them to CBOE.

VegetableWonderful84

does anyone hold CBOE?

Dashover

Buddy of mine who was at the CBOE uses Tradehawk/Tradier and says he pays $10 a month and saves a ton.. haven’t tried them yet .. still using TOS and TC2000 for charting and TV.

rupert1920

Strikes are added based on expected volume. You'll find a couple months out, there are only multiples of 10 for NVDA past $200, multiples of 5 below $200. But for the quarterly expiration in June, it's every $1 under. As the expiration get closer, more strikes will be added in between if CBOE decides there will be enough volume. That's also one of the reasons you'll find way more open interest for multiples of $10 than $5 or $1 - they've been around longer.

papakong88

Most ETF follow the index. Your approach may be different and will have different results. Here is one of the indices: [https://en.wikipedia.org/wiki/CBOE\_S%26P\_500\_BuyWrite\_Index](https://en.wikipedia.org/wiki/CBOE_S%26P_500_BuyWrite_Index)

According-Page8618

https://www.tradingview.com/symbols/CBOE-IGV/?timeframe=12M software down 4%, almost at tarrif low

Due-University8711

The chart for CBOE shows a clear uptrend over the past six months, characterized by higher highs and higher lows, forming what appears to be an ascending channel. The price has recently broken out to a new 52-week high, suggesting a continuation of this bullish momentum. This breakout from a prior consolidation phase indicates strong buying interest and potential for further upward movement. Traders should expect the price to attempt to maintain above the recent high, with potential for minor pullbacks to retest the breakout level before resuming the climb. The current price action is indicative of a strong Stage 2 advance as per Weinstein's methodology, supported by consistent institutional buying.

fire_alarmist

So class action lawsuit against the Nasdaq, NYSE, CBOE and all other exchanges when?

dvdmovie1

CAH or MCK on a pullback. CBOE. RSG/WM. Nice pullback recently in BSX. I think TTWO is oversold under $200 with the catalyst of GTAVI later this year. DPZ.

BadBoyBrando

Rule number 4 - use data! Leverage sites like CBOE, Barchart, and [implied-data.com](http://implied-data.com) for options chains and market assessment data. Don't trade blindly.

JJdante

CBOE

Frosty-Pirate444

Hell no, CBOE has the best data, hands down. CBOE offers true institutional real time data, data that no other platform offers.

Frosty-Pirate444

I use the CBOE institutional data but not sure if they offer that for the SPXW. Although they do offer tick data for most markets. You might want to check with the CME Group because they offer similar products as the CBOE.

iron_condor34

Why? Its a quick way to compare a cc strat that an etf manager is running vs the underlying. CBOE has option strategy indexes too. Even those indexes will show the same thing that cc strats will also underperform. The only benefit you'll probably get is possibly less of a drawdown in downturns.

According-Page8618

https://www.tradingview.com/symbols/CBOE-IGV/?timeframe=60M tech software back to april prices

Bene_observari

CBOE thanks you for your donations. WSB getting rag dolled today.

PIK_Toggle

For retail, is DMA or PFOF better in terms of price and execution? My experience has been that PFOF platforms provide better fills. I could be wrong, but that’s what a few years of trading tells me. If you could dictate your ordering routing, what would it look like for options? CBOE or dark pools? How do the larger firms route trade volume (Schwab, fidelity and E*Trade)? Do they maintain their own liquidity pools? Or does it all flow to CBOE?

Sharaku_US

Both OptionsDepth and VolSignals use the same back end CBOE data and you can see the dealer or customer positioning. If you know how to leverage the data that 200 a month is pretty cheap.

WolfPossible5371

The $200/month services are mostly just dressing up free OI data with a nice UI. Real dealer positioning from the exchange costs institutional money.. think five figures annually. That's why every affordable tool is using the same public inputs and calling it "proprietary." For backtesting purposes, you can approximate GEX from public options chain data. Pull OI and greeks from CBOE or your broker's API, compute gamma exposure per strike, and see if the levels correlate with reversals in your historical data. Won't be perfect but it's free and you'll learn more building it than paying someone else.

crazybitcoinlunatic

Ok so you are from Volsignals. How do you get access to this data? You buy from CBOE and stream it on your website for a fee?

crazybitcoinlunatic

Don’t these services just pay for the exchange data and compile it and sell a service which they charge a monthly fee for? If the data costs $3000 from CBOE they just model the data into a readable form and selling a service for $100-$200

supershinythings

It’s my understanding that entry to the S&P requires multiple profitable quarters before they can be admitted. And it will be a year at least AFTER an IPO. It’ll be a year before they get admitted, if they even still qualify. From AI-slop Google: To enter the S&P 500, a company must be U.S.-based, have a market cap of at least \(\$22.7\) billion, maintain high liquidity (\(>50\%\) public float, high annual trading volume), and show positive earnings in the most recent quarter and for the sum of the last four quarters. The S&P Index Committee ultimately selects companies. Key S&P 500 Inclusion Criteria Location: Must be a U.S. company. Market Cap: Must meet a high threshold, adjusted to \(\ge \$22.7\) billion as of mid-2025. Profitability: Positive GAAP earnings in the most recent quarter and the sum of the last four quarters. Liquidity & Float: Highly liquid, with at least 50% of shares held by the public (public float) and annual trading volume exceeding the float. Structure: Must be a corporation, not a master limited partnership (MLP), and list on a major U.S. exchange (NYSE, Nasdaq, CBOE). Time: At least 12 months must have passed since the initial public offering (IPO). These criteria ensure the index tracks 500 of the largest, most liquid, and representative U.S. companies. 

Regular-Hotel892

Even with the instituional level / most expensive granular data from the exchange “dealer positioning” in aggregate across SPX 0dte strikes for example is impossible to compute. The dataset simply does not exist. The CBOE Open-Close summary does not tell you what people seem to think it does

NationalOwl9561

CBOE data. For SPX

duboilburner

CBOE sells the data for SPX and VIX at least. The companies that do the best to show the data accurately are Unusual Whales' Periscope, OptionsDepth and new guys VS3D (VS=VolSignals). I currently pay for UW's Periscope. I also am in VolSignals' discord to learn how a former market maker understands the data, how they have to hedge with buying or selling futures through different exposures. OptionsDepth and VS3D offer a neat visualization/gradient map of sorts that also predicts what charm and gamma are likely to be as decay happens throughout the day. UW Periscope does not.

crazybitcoinlunatic

Where do you get this data? CBOE?

heroyi

No services provide real time because you cannot adjust the positioning on real time. No, flow data is inaccurate just as well since the market most likely moved away from what the midpoint of the spread may suggest which is why ddoi isn't suitable UNLESS you are ok with that noise and want something for in between. Also, Spotgamma and VS3D definitely differentiate long/short at least for SPX. Equity is a different story because it is absurdedly expensive to not only buy all the reports but some of the exchanges may not even offer a proper tagging like CBOE does.

MrDerivatix

Hey OP. I’m unaware of your context but Bloomberg’s tick-by-tick is probably an overkill (and expensive) for most 0DTE setups unless you’re running a legit HFT desk. PapaCharlie9 gave you useful alternative, but in case you prefer to outsource this problem, you can check out ORATS. They have a live data API that runs with <10 seconds of market delay, which for 0DTE mm is more than fast enough unless you’re competing with Citadel’s colos. Just beware, is not “cheap”. Pricing-wise, the intraday recurring data is around $199/mo. Not cheap, not Bloomberg-expensive. For me the data quality on the IV surface is genuinely better than what you’ll get from most retail-facing providers because they’re fitting a parameterized curve (slope + derivative) rather than just spitting out raw mid-market IVs. For the real pros that need sub-second updates you’re probably looking at OPRA feed direct or through a vendor like LiveVol/CBOE DataShop. What’s your actual latency requirement? That’ll narrow it down fast.

duboilburner

I don't have a link, I just know Daniel Roos (former head of SPX options trading at Belvedere), aka VolSignals has mentioned it repeatedly, as he's built a platform to disseminate the data and he's more plugged into where to get it from and what is upcoming based on what they tell him. Keeps referring to the upcoming shift to also have 1 minute updates instead of only 10 minute, and keeps calling it a "firehose of data." So, he's been gearing up to make sure his servers are going to be able to handle the much more frequent calculation of positions and how to display it, as I think it is a good bit of computing power that's now about to go up by a factor of 10... I don't know if they will have different tiers where you can pay less and still get the traditional every 10 minute updates, and pay more if you want the whole 'firehose' every minute or how it's going to work. I don't think that the raw data from CBOE is as useful to us as it is through these other platforms that turn it into graphs and gradient maps.

Boodiiii

BIIB Put - $180 CNC - put $38 CBOE - call $277.5 AER - Put $135 AN - put $200 PAA - $20 0dte PIPR - $320 put PAGP - $22 call MKTX - $155 put PM - $177.5 put MAC - $19 Put all on latest expire, and just for earnings

tlmarcott

CBOE releasing gex 1 minute streams? Can you provide a link to more?

duboilburner

Unusual Whales' Periscope for SPX options, updates every 10 minutes, has the real positioning info instead of naive GEX based on OI. If you want some extra info and fancy visuals to go with it, OptionsDepth. There's also a new player on the scene that's been put together by a professional ex floor trader, basically trying to recreate the data and toolsets he had when he was a market maker. It's called VS3D, VS standing for VolSignals. I pay to be in his 'pro' discord to pick up some of his professional opinions on how he is translating the data to help my learning process, but I'm not paying for VS3D yet. Unusual Whales Periscope gets me 90% of the way there, just doesn't have the extra fancy visuals, which can be helpful. CBOE will be releasing 1 minute updated data streams soon... They are currently the ones who hold it to every 10 minutes for updates. All of the above mentioned services pay CBOE for the data, and then they parse and display it their own way. So, I suppose you could just pay CBOE directly, but I'm fairly certain that far exceeds what the other services charge. The other guys can charge less because they have numerous customers that can defray that cost... and the raw data may not be as useful as the already calculated displays UW, OD and VS3D offer.

According_Witness441

For infrequent use, free end-of-day data is usually enough. CBOE publishes basic historical options settlement data at no cost, and Yahoo Finance lets you manually pull past option chains by expiration and strike. Nasdaq Data Link (formerly Quandl) also has some free or very low-cost EOD datasets. The expensive platforms are mainly for continuous, cleaned data, so for occasional LEAP analysis, mixing these free sources is often the most practical approach.

According-Page8618

https://www.tradingview.com/symbols/CBOE-IGV/?timeframe=60M tech software alsmost on april low :D

KMI_Dragon_Knight

[https://www.msn.com/en-us/money/investment/cboe-in-talks-to-bring-back-all-or-nothing-options-to-vie-with-prediction-markets/ar-AA1VunPL](https://www.msn.com/en-us/money/investment/cboe-in-talks-to-bring-back-all-or-nothing-options-to-vie-with-prediction-markets/ar-AA1VunPL) So CBOE CME BOX et all can take more money from retail-ded investors

Initial_Ad_9250

Anyone working at CBOE , can y'all lower the Vix for a second bros I wanna load up on some options

DopeBook

Calls on CBOE?

KSFL

You can sell naked puts on margin CBOE says for broad based index options: “100% of option proceeds plus 15% of underlying index value less out-of-the- money amount, if any, to a minimum for calls of option proceeds plus 10% of the underlying index value, and a minimum for puts of option proceeds plus 10% of the put’s exercise price.”

hv876

I so wish CBOE would have busted my 6940P from yesterday…I was right, just a day early 😭.

the_humeister

As an investor in CBOE, I'm all for it.

dvdmovie1

This was my response to another poster a couple of days ago and still same in terms of broad baskets: Selected tech (Japanese suppliers, memory, optics, semicap/semis) but that's even run so quickly opportunities have largely run dry. Have started trimming some memory exposure, which I won't time right but has gotten absurd. If I'm not buying anymore at this point and I don't see it as a long-term holding, I'm very, very gradually trimming. Defense (largely in other countries) AI power (turbine names, BE, etc) Hard assets, some US listed names but a lot in various other countries and via ETFs. Copper miners, uranium miners, aluminum, metal recyclers, gold miners, royalty plays, oil/gas + pipelines, etc etc etc. A lot of this stuff has already run a lot YTD. Commodity futures ETFs would also go in this basket. Biotech. I continue to enjoy dabbling in biotech and have done well with it, although keep it to a reasonable allocation. Financial markets names. (CBOE, etc.) Other odds/ends that don't fit in the baskets above (not as much here as there sometimes is; SATS for example is one.)

iron_condor34

Nah, you just got to understand what the VIX is. CBOE has all the basic info you need.

dvdmovie1

Selected tech (Japanese suppliers, memory, optics, semicap/semis) but that's even run so quickly opportunities have largely run dry. Have started trimming some memory exposure, which I won't time right but has gotten absurd. If I'm not buying anymore at this point and I don't see it as a long-term holding, I'm very, very gradually trimming. Defense (largely in other countries) AI power (turbine names, BE, etc) Hard assets, largely in other countries. Copper miners, uranium miners, aluminum, metal recyclers, gold miners, water companies in Australia, royalty plays, oil/gas + pipelines, etc etc etc. Biotech. I continue to enjoy dabbling in biotech and have done well with it, although keep it to a reasonable allocation. Financial markets names. (CBOE, etc.) Other odds/ends that don't fit in the baskets above.

iron_condor34

You should really read about what the vix is. Read CBOE's white paper on it.

JoJoPizzaG

Download CBOE historical data and you can see which tickets traded the most.  On top of my head, SPY QQQ IWM IBIT. Forgot the ticker for the treasury ETF. 

JesuslovedPLTR

CBOE adding the turbo button to new ways to lose money 💀

KallMeSuzyB

I get mine straight from CBOE and I only need one timeframe per day so it's worth the $35 for me.

Puzzleheaded-One-607

Interesting, thanks for sharing. Some of the exchange companies have insane charts over time. Pull up CBOE for example. I could see MIAX being similar but want to get a better read on fundamentals of the business first 

WeakPop3688

Yes, sites like CBOE, Nasdaq, and Yahoo Finance offer limited free historical options data.

dirty_F0x

Brother, quality options data are expensive. Set up a budget for it or go old school and scrap the CBOE. But good luck with maintaining the pipeline.

j_hes_

CBOE data is not free

j_hes_

CBOE has free options data? Not today’s snapshot?

I_HopeThat_WasFart

CBOE website has it believe

m360842

CBOE status 6 hours ago was "PrimaryMarketHalt"

DC9_Guy

Yes, some markets are (or were) open today. Most futures markets open this afternoon at 5:00PM (ET) [cmegroup.com/trading-hours.html](http://cmegroup.com/trading-hours.html) For the CBOE (e.g. SPX) see CBOE's website at [https://www.cboe.com/about/hours/](https://www.cboe.com/about/hours/) .

Worried_Quarter469

CBOE makes them weekly if it’s popular enough

Terrible_Champion298

I don’t trade 0dte so I might not be the best judge. The CBOE apparently feels they can profit from additional and regular expirations, and the SEC has approved the expansion. Time will tell. But I expect more new traders will tap out early because they played casino instead of learning options trading.

JJdante

I was watching a tasty trade interview with a person working at the CBOE, and he said that retail is responsible for something like 60-70% of the volume on 0dtes. And the CBOE makes a lot of money on that volume- this feels like the natural evolution of that. My numbers might be off because it was awhile ago I saw the interview.

sthlmtrdr

IBKR allow you to trade CBOE SPX options 23h

SubstantialReturn718

OK I cannot find it (CBOE don't publish it anymore, thought it was also possible via the OCC but no). However, as said, you can just just any option scanner and filter on the longest maturity!

greytoc

The Options Institute at CBOE has a better and more detailed explanation with some examples. The blog article is posted on the Fidelity web site here - [https://www.fidelity.com/learning-center/investment-products/options/tax-implications-covered-calls](https://www.fidelity.com/learning-center/investment-products/options/tax-implications-covered-calls)

trebuchetguy

I'm going to be the weirdo who's serious for a moment instead of piling on. Let me share something a retired professional CBOE floor trader once told me. The market is a bunch of numbers. Stock, option, and futures prices, greeks, IVs, and so on. The rules of market engagement allow traders to pick and choose what opportunities to select, hold, and manage and which ones to walk away from. Here's what the market is not. It isn't a "supernatural" force or entity. It doesn't care about you or anyone. It is utterly indifferent. The moment one attributes their own failures to outside forces working against them, they have abdicated responsibility for their own success or failure. Honestly, that's easier because that makes it okay to be lazy because the "market is going to turn against me anyway." Trading with long term success is HARD. It requires study, understanding, preparation hours away from the screen where you aren't trading. That can be a real drag, but you have to do it. It requires failure and learning from failure and being utterly ruthless in self evaluation. That doesn't mean self flagellation, but quite the opposite. It means ruthlessly picking apart how one makes decisions, which ones worked and why and which ones didn't and why. Being able to differentiate a "bad break" from a "bad decision" is an absolute requirement.

PapaCharlie9

What exactly are you looking for? Why does it have to be "past"? The link below is all of the *presently* trading options on the CBOE. It's a ginormous CSV text file that just has the ticker and specs of every contract trading, but not just American style. It's easy to determine if an option is American or not just by process of elimination, since the list of European style options is quite short. SPX, XSP, NDX, RUT and a handful of others I'm sure you can research and discover for yourself, because I'm not going to write your paper for you. http://markets.cboe.com/us/options/market_statistics/symbol_reference/?mkt=cone&listed=1&unit=1&closing=1

Capable-Banana4618

Gold and bonds are traditionally considered hedges for some situations. If you want to hedge with stocks then: CME, CBOE, FICO are the ones that could possibly offer protection in a crash or major downturn. BRK - I consider defensive but not a hedge. There is no single hedge that can protect in all situations.

North_Garbage_1203

You have to pay for CBOE data they won’t just give it out and it’s expensive. Hence why there are services/platforms that pay for it via OPRA then organize the data to be utilized in analyses

hv876

Yes. IBKR enabled this over the holidays. I think CBOE had the pricing info available earlier.

hv876

Brother, CBOE now allows almost round the clock options trading on SPX.

hv876

NGL, CBOE extending SPX options trading window from 8:15 pm to 9:15 am M-F is a game changer. Can take advantage of gap up and sell before you can get rug pulled.

reichjef

If you are going to submit this paper for publication eventually, you should try contacting the CBOE directly. They will let you gain access to past information for academic research.

deustrader

Years ago: HistoricalOptionsData, ORATS, CBOE, Nanex. Now there should be many more. They all provide the same bid/ask data, so no real difference there, though each one mishandles some aspects of the data differently, especially in terms of non-standard options post-split and post-corp actions. I also had to spend months improving my own data cleaning/smoothing algos to revalue options based on bid/ask, as no one else can estimate their fair values properly.

Mental-At-ThirtyFive

I like iron condors. I do "conceptually" agree on martingales although "instinctively feel" (that's my risk profile) there has to be a "stopping rule / take my loss" to keep me in the game. A few questions. Do card players have an opinion on this (I understand blackjack has max bets that takes away martingale effectiveness, and poker is not susceptible to martingale)? Did the brokers let them run this strategy rampantly? Or maybe my ask is how do brokers' risk management handle this? Do exchanges (CBOE here) monitor these? Across multiple brokers? Anyway - big win for mtm for the risk transfers but how does it work for intraday risk management for the brokers and at the exchanges. Thanks to morningstar for the details. Well done Captain Condor for the trifecta - IC + 0DTE + martingales even if it blew up. A last comment after reading the article - having more intrday orders / activity more than JPM is not a good thing unless you are a big boy and play with their rules book

NY_State-a-Mind

You can buy SPX options for like 20 bucks. Also XSP is just like SPX and operated by CBOE as well but 10x cheaper

314sn

Thanks for the response. Do you think 1 minute data is necessary or is EOD enough for your level of success? Also, Is it worth paying extra to CBOE for data quality relative to other vendors?

deustrader

Initially I searched on Google and found HistoricalOptionsData (name of website). Later I also bought historical data from CBOE, probably cheaper a few years ago than now. At one point I also got data from Nanex - another provider. Now there are more that you can likely find on Google. Generally they all provide the same data in terms of bid/ask for each contract in 1-min intervals.

AnteaterFantastic212

I've been trading for about 15 years. I was fortunate enough to train with Dan Keegan, a former CBOE market maker who was on the faculty at the Chicago School of Trading at the time, which was very helpful in learning to manage risk like a market maker. He is still active and I would be happy to introduce anyone interested. A little education can save a lot of $ and heartache.

Quietreader1900

Abaxx Texhnologies. (ABXX). Listed on the Neo / CBOE Canada. Won’t be for much longer.

EvolvingDior

CBOE has created a silver volatility index, in case you are interested: [https://finance.yahoo.com/quote/%5EVXSLV/](https://finance.yahoo.com/quote/%5EVXSLV/) CME has one for futures, but you need a CME account to see it.

AnteaterFantastic212

The way to avoid such traumas is to learn how to manage risk properly and adjust positions in response to market dynamics. Reply if you would like a referral to a former CBOE market maker who can teach you to trade like a pro.

Got_Engineers

The only thing that could stop silver is if the CBOE increases margin rates on silver options/futures. I think they were called the Hunt Brothers or some shit but they were the dudes that had the monopoly on silver back in the day until they didn’t because the markets eventually took control. I know J.P. Morgan owns a shit ton of physical silver so someone must be the option writer on all of this. The fact that silver went up like 8% today when the SPY IV% was like 4% is kind of crazy.

Ken385

CBOE Data Shop [Cboe DataShop](https://datashop.cboe.com/)

TradingInsecurities

The VIX is a functionally meaningless vehicle that does nothing but earn fees for the CBOE. You would have better odds at a slot machine. It is the derivative of a derivative of a derivative. Here’s the uncomfortable truth: the VIX is the result of a formula that uses the midpoints of bid-ask spreads from a select group of out-of-the-money SPX options—on an index (the S&P 500) that is itself an index, of a selection of stocks, chosen by a committee, based on a 1950s understanding of “representative”. The VIX is an index of options on futures contracts on an index of options prices on a cherry-picked index of stocks. That alone should make you pause. But even worse is how this “fear index” is interpreted. In theory, the VIX should capture expected volatility—that is, standard deviation of returns in either direction. But in practice, it behaves asymmetrically. It spikes when the market drops, and it decays when the market rises. In other words, it’s mostly just a function of downside panic, not symmetrical uncertainty. The CBOE claims the VIX is “mean-reverting,” unlike the S&P 500, which “can rise indefinitely.” But this misuses the statistical concept. A truly mean-reverting process is one that oscillates around a central tendency. The VIX doesn’t do that—it just returns to a policy-influenced range (often around 12-15), largely because volatility expectations are anchored by central bank behavior, market maker liquidity, and structural hedging flows. That’s not mean reversion. That’s seasonal normalization in disguise. And here’s the real kicker: the options selected in the VIX calculation can shift depending on bid/ask spreads. If a nearby strike has no valid bid, it can be excluded entirely from the calculation—even if an adjacent strike is active. This can distort the entire volatility estimate, especially in low-liquidity environments like weekly expirations. So when you say the VIX is at 52w low what does that actually mean? Is it because there is low liquidity on SP 500 Index Options? Who knows?

RiskFirstExplains

This is normal and there’s no lack of transparency or broker funny business here. When you sell options, you’re assigned based on random assignment through the OCC, not based on who bought your specific contract. Each brokerage submits exercised contracts to the OCC, and the OCC randomly assigns those exercises to short positions within that brokerage only. That’s the key point. Because these were held at two different brokerages, the assignment pools are completely separate. One brokerage happened to receive an assignment, the other didn’t — even though the options are identical. A few clarifications: You will never know the identity of the counterparty. That information is not available to brokers, CBOE, or retail traders. The broker did not decide to exercise anything. The long holder exercised, the OCC processed it, and your account was randomly assigned. Being assigned on one account and not the other is very common when positions are split across brokers. If you’re short options and don’t want assignment risk, you need to close or roll before expiration, or manage margin so assignment doesn’t force liquidation. Nothing was taken from you and nothing was exercised “against” you unfairly — this is exactly how listed options are designed to work.

RiskFirstExplains

People are mixing up SPX vs SPY. SPX options can trade nearly 24h via CBOE Global Trading Hours, and some brokers allow premarket/overnight fills. SPY options cannot. SPY is an ETF and its options only trade during regular market hours (9:30–4:00 ET). If this was SPY, it didn’t actually execute premarket — the early timestamp is likely from the opening auction or how the broker reports the fill. The order was queued overnight and filled at the open. Also, market orders on options at the open are risky because spreads are very wide.

FleetAdmiralFader

There is transparency.  When an option is assigned the OCC randomly choose a broker that must then choose a position (via the broker's assignment rules) to assign. Your brokerage account is with someone that offers options through the CBOE. The CBOE is the broker of the option and assignment comes from them after they are chosen by the OCC. Thats why you are being told to ask the CBOE, but my guess is their assignment is also random. No company is going to tell you how it's random number generator works.

Ken385

The CBOE is one of 18 different options exchanges. The option assignment process is handled by the OCC (Options Clearing Corporation)

FleetAdmiralFader

Assignment is random and done by the CBOE. Someone chose to exercise [early] and you got unlucky

EvolvingDior

That's CBOE. CME is futures.

Wide_Neighborhood_49

I am starting to think everybody at CBOE took the day off

gokinetic

Not overfitting, but *structural change* as others here noted: * **2018 (The Reset):** "Volmageddon" (Feb '18) blew up the short-vol trade. Markets have priced tail risk and skew differently ever since * **2022 (The Shift):** CBOE added Tue / Thu expirations. Before this, you didn't have daily gamma exposure. Now, intraday moves are heavily driven by dealer hedging / gamma flows Don’t trust 0DTE backtests before mid-2022. Liquidity and flows driving today's strategies didn’t exist back then.

orsomeshitidk

Are the Chicago sports team the bears and bulls cause of the CBOE or just coincidence