CBOE

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

jw30m

The only European-style options traded in the US are CBOE Index options, that I'm aware of. If you're wanting $TSLA, the closest you'd get is the CBOE Magnificent 10: https://www.cboe.com/tradable-products/mag-10/mgtn-options It's just 10% $TSLA, but that's as close as anything in the US to your ask.

no_simpsons

I was trading futures and wanted to do a currency spread and started searching how many GBP contracts = 1 JPY contract.. Led me to a video about notional value made by Pete Mulmat from Tastytrade and openly sponsored by CBOE.... so long story short, a CBOE commercial.

christopheroptions

By trading hours they just mean buying and selling stock shares. Options trading hours will remain the same. CBOE are the ones who wants to expand options trading hours.

mechanicalcontrols

Write CBOE a letter I guess

GowenOr

Welcome to options. When I took the traveling circus from the CBOE about trading options. I was a broker. The instructor started the class by saying that traders were trying to pick up nickels in front of a steamroller and that steamer would squash them one day. Then we went on to the meat of the class of using options to protect a portfolios.

Affectionate-Idea690

**on Tuesday, December 16, 2025**, the **VIX (CBOE Volatility Index)** chart is signaling a sharp increase in market anxiety. Often called the "Fear Gauge," the VIX is currently in a clear **intraday uptrend**. The VIX opened higher today at **17.28** (vs. yesterday's close of 16.50), reflecting immediate concern over the delayed jobs data. While it retreated slightly from its morning highs of **17.61**, it remains well above yesterday's levels. * **Inverse Correlation:** The upward move in the VIX chart is a direct mirror of the "Downtrend" status seen in the major indices (S&P 500, NASDAQ, and DJIA). As stocks have sold off due to weak economic data, the demand for portfolio protection (hedging) has driven the VIX higher. * **Resistance Levels:** The chart is currently testing resistance in the **17.50** zone. A sustained break above this could signal further downside for equities as we head into the market close. * **Short-Term Momentum:** Technical indicators like the **MACD** and **Stochastics** are showing "Buy" signals for volatility, suggesting that the momentum currently favors further spikes rather than a return to the "calm" sub-15 levels seen earlier this month.

d33p7r0ubl3

No I believe we need CBOE to move to 23/5 for options

KapGains

Generally curious where can you see short open interest on OTC/CBOE. Guessing also these are not available to retail investors? Thx

AyumiHikaru

I don't think options traded on Nasdaq >Stock options are traded on several exchanges like the CBOE, PHLX, and ISE

Ken385

If TOS on demand doesn't work for you, you can try CBOE data shop [Option Quotes](https://datashop.cboe.com/option-quote-intervals) When I typed in 1 minute interval quotes for TSLA for a specific day, I was quoted $24

ShittyUsernane1222

today there will be a mild solar storm lmao. it would be funny if it caused CBOE and NASDAQ servers and stock prices to crash lmao.

RPCV1968

Here is a detailed comparison of the December 5, 2025 DJIA **FEARLESS Forecast** versus the actual close, including intraday volatility and regime probabilities: * The forecast, **with the mean reversion filter added (see comments),** predicted a moderately bullish day with an expected return of about +0.30% and a directional bias of roughly 65% chance of an Up day. * The actual DJIA close on December 5, 2025 was 47,954.99, confirming a positive gain consistent with the forecast. * Intraday volatility on December 5, 2025 was moderate, with the CBOE DJIA Volatility Index (VXD) around 16–17, indicating a typical level of market uncertainty—not elevated or subdued. * Regime inference for that day showed a dominant Bull regime probability (\~70%), with smaller contributions from Range and Bear regimes, supporting the momentum-driven forecast. * No significant mean-reversion overlay event was active, so the model tilted toward continuation rather than reversal. * The actual close showed the model’s probabilistic range was well calibrated. Overall, the model’s forecast for December 5, 2025 aligned well with market behavior, capturing both the directional move and volatility environment accurately.

gainsusmaximus

We're .73% from all time high on INX and 3 trading days away from a rate cut (82.2% odds - CBOE). Do what you will with that Information

Michigan-Magic

Good answer on why VIX ETFs are not an investment. There are public entities that have a highly significant portion of revenue derived from market making activity (Flow Traders in Europe or Virtu in the US), as their market making revenue is tied to increased volume that should result from increased market volatility. Or can buy shares in an options exchange like the CBOE, whose volume in theory will ramp up due to volatility.

ShittyUsernane1222

It would be a shame if spy dumped in 30 minutes so hard that CBOE servers overheated and went down.

saranwrapx211

CBOE IT: " Yeah just swap the floppy drive out with the new one. Mhmm, now open up the install wizard and save the zip called THETA\_TRASH\_MARKET.exe. Yup, hit run."

hkric41six

When is CBOE launching RAM futures?

JoJoPizzaG

Go to CBOE and download the history. Then filter the for the top 100, preferred to be 50. Trade those.

Mountain_Fig_9253

When there is a split or reverse split it takes a little bit for the CBOE to update the options to reflect how the share change affects the option. In a reverse split the options will change to be less shares. They make sure to keep it “fair” but the biggest issue is the liquidity dries up as no one wants to buy an OTM non-standard option. If it goes ITM don’t expect any extrinsic value. I’ve always gotten screwed with splits or reverse splits. It’s essentially the ultimate IV crush.

IslandExact429

Word. Had the same question. Liquidity on the CBOE?

i4ismail

CBOE is charging exorbitant fees ... CBOE should reduce its fees ... esp for multi-leg orders also in this age of internet and digital, why should somebody charge per contract ? they should only be charging per ORDER ... the digital infrastructure is almost the same to execute 10 contracts in the order or 1 contract in the order ... brokers in countries like India only charge per order ... does not matter how many qty you put in your order

PapaCharlie9

PMCC is a type of diagonal. Diagonals are not regulated as spread structures for the most part, but rather as two individual trades. For example, the [CBOE strategy-based margin manual](https://cdn.cboe.com/resources/membership/Margin_Manual.pdf) doesn't include entries for PMCCs. If there are no special rules for that structure, the rules for the individual standalone legs are used instead. So in one sense, your broker doesn't need to know. All they have to do is make sure that the trades for each individual leg comply with regulations and internal business rules. This is why most brokers require that you have the option approval level for naked short calls in order to trade PMCCs. > Let’s say I own 5 LEAPS but I only want to sell 2 or 3 covered calls, which of the LEAPS get aligned to the short calls as collateral? Technically, none. Each is treated as a naked short call, which requires total account buying power for initial and maintenance margin. > And how would one calculate break even on the short call strikes when there’s a mix of LEAPS with different entry prices / BE? That's entirely up to you, since BE is an arbitrary number that only you would care about. Similar to what your target profit/loss percentages might be on the trade. > A few weeks ago I went long 4 SOFI LEAPS Calls and started selling covered calls against them, and I absolutely love it. Caution. You are NOT trading covered calls. Covered calls have a regulated definition that FINRA, SEC, and IRS care about. If you told an IRS auditor that you traded "covered calls" when they are in fact trading option diagonals, at best you will cause confusion, at worse you'll get into trouble.

wam1983

Market makers are literally making quite a bit of money on 0DTE options, as there is a shit ton of volume there. The CBOE is also making shit loads of money there, too. That’s why they created them in the first place. So it’s not an opinion, you’re right. It’s a fact. And the correct answer to OPs question. Others might be making money too, but market makers are DEFINITELY making money.

Heavy-Situation-9346

Don’t know why you felt the need to downvote me. SPX options on CBOE. The GTH are 8:15pm - 9:25am. But they are currently not quoting as a knock on effect of the CME outage. Not surprising, since any market quoting SPX overnight is pricing off of the /ES price.

MentorTrader23

Spx options on CME? They are on CBOE no?

Ok_Upstairs3431

Getting CBOE adds while it's down is my personal peak today. "life is better with options, so could your trading strategy"

Ken385

*one told me it is a daily average over a quarter not a single month* This is incorrect and suggests that the rep may be wrong about other things as well. It is the daily average over a month, not a quarter. If you go over this, you will be considered a pro customer for the following quarter. Some brokers may have stricter rules, but this is the way the exchange rules are written. From the CBOE rule, *the term “Professional” means any person or entity that (i) is not a broker or dealer in securities, and (ii) places more than 390 orders in listed options per day on average during a calendar month for its own beneficial account(s)* [RG16-064 Professional Orders](https://cdn.cboe.com/resources/regulation/circulars/regulatory/RG16-064.pdf)

reichjef

It finished the contract at 18.11. It’s an am settlement. CBOE makes it damn tricky to find the settlements, but I had a long put 21 exp this morning, so I was eager to see how it would finish, and saw it this morning.

Ken385

You still don't seem to understand. The VIX settlement this morning was 18.11 Your 18 puts expiring this morning are worthless, they expired out of the money based on this settlement price. Again, here is the link from the CBOE that has the VRO settlement, [Weeklys Settlement Values](https://www.cboe.com/index_settlement_values/weeklys_settlement_values/) || || |VIX Option|VIX|2025-11-26|VRO|18.11|

Ken385

No, the settlement was based on this mornings opening price of specific SPX options one month from now. The VIX settlement is based on where these options open. The CBOE will post this calculation shortly after the opening at the link I posted above, which they did. 18.11 was the settlement price. You're right you can't now trade these options, but it takes time for your broker to remove them from your position.

FLRugDealer

When this shit eventually gives me heart problems I’m sueing the CBOE for damages

kaapooj

thank CBOE for inventing leaps

Guinness

Its almost like people don't know what the fuck risk management is. People think CME and CBOE are typical exchanges, but they're primary function is risk management.

Dumbest-Questions

In order of increasing difficulty and accuracy 1. You can buy EOD option dataset from one of the vendors (ORATS, Databento, Algoseek etc) and use open interest at end of day. The key assumptions that GEX vendors make are that all calls are sold and all puts are bought. It's up to you to decide if you believe that. 2. CBOE data shop has open/close dataset for C2 exchange, which is kinda useful in building expected dealer profile (we had several threads about it). It's a massive improvement over (1) but it's also a lot of work. The key operating assumption here are that SPX is the key component of the flow and that the only delta hedging participants are market makers. It's gonna be very expensive and the data is annoying to work with. 3. You can buy TaQ data for SPX/ES/SPY and do attributive reconstruction, under assumption that smarter players are OMMs and thus they will be the recipients of juice over fair. Unlike (1) and (2), the assumptions here are micro-structure related and very subtle. The data is likely cheaper than (2) but it's a much bigger tech lift. 4. You can use (2) and (3) _plus_ use SDR and some sort of structured product tracker for complete picture. Lots of money and lots of work.

Prestigious_Suit_202

today's breakfast burrito is sponsered by CBOE

Mrhotel-ca2654

You might check with the CBOE, tell them what you’re wanting to do and they may have the data. If not the NYSE would have it, if you go to their site they have several data options that you can subscribe to.

AnyPortInAHurricane

**Before 1973:** – Options were indeed **OTC**, customized, illiquid, and risky because you had direct counterparty exposure. – Most were dealer-written “puts” and “calls” negotiated privately. **After 1973:** – The CBOE created the first **modern options exchange**, which is why many people associate them with the “birth” of options, even though they only standardized and industrialized the market. If you want, I can outline how OTC equity options worked pre-1973.

EchoGolfHotel

PCOAST. I was with Timber Hill most time. I had a lot of his in my pits who came from - and often went back to the CBOE. Two of my managers went on to big positions at the CBOE, but I transitioned into investment management and specialized in hedged equity / structured note type stuff. Fun days - I miss them.

Fangslash

guy above already answered, to elaborate options have always existed and traded, they have an exchange with CBOE, the modern options pricing theory started Bachelier Model in the early 1900s, which then matured under BSM model devised by Black, Scholes, and Merton (as the name BSM suggest)

lemons714

CBOE? I was there too. OEX was the hot thing, and Najarian was there, with his ponytail.

FollowingAway9452

Session indicators on TradingView don’t all use the same session definitions. Some follow exchange hours, some follow broker hours, some follow your chart’s timezone, and some follow futures/extended hours rules. NY does open at 9:30 ET, but if: * your chart is set to a different timezone * the indicator uses UTC * the indicator is tied to CME/CBOE session definitions * or your chart includes extended-hours data, you’ll get different session boundaries It’s not daylight-savings error. It’s that different session indicators use different data sources and rules.

Initial_Ad_9250

Can someone at CBOE mistype Vix as 13 or something. I wanna buy cheap calls

RubiksPoint

>So question - when exactly do SPX options expire? Right at closing bell or sometime later? I'd recommend looking at the contract spec on the CBOE site. Here's an excerpt for a.m. settled SPX options: "The exercise-settlement value, SET, is calculated using the opening sales price in the primary market of each component security on the expiration date." Here's the excerpt for p.m. settled SPX options: >The exercise-settlement value is calculated using the last (closing) reported sales price in the primary market of each component stock on the last business day (the expiration date) of the month.

EvolvingDior

This place called the Chicago Board Options Exchange (CBOE). They have many products that may suit your needs.

Good_Ride_2508

Smart or dump we will come to know after the fact ! Remember this :=> The CBOE Volatility Index (**VIX**) peaked in March 2020 amid the initial panic of the COVID-19 pandemic, **hitting an all-time high of 82.69 on March 16, 2020**.

FreshContent_HQ

I suggest CBOE and OCC for free sources but are limited. Both publish basic options data. On the other hand, yfinance can give surface-level IV for many tickers. I would advise going through Techsalerator for more complete datasets.

WickOfDeath

Ask the CBOE about affilated brokers... check the FINRA poison list... there are two, three other web sites they rate brokers in terms of "dot com bubble survival" "2009 survival", "2011 survival", "2020 survival" etc But before you explore options as income strategie, go into a casino. Because there you have defined chances to gain or loose but with options you dont. The safer the strategie is, the less you earn and at a certain point in time you may ask yourself why you dont put your money in three good performing ETF, QQQ (the S&P500 ETF) or a DOW ETF, emerging markets ETF and FTSE100 ETF and if you're in the US, some treasures. They yield at least 4%, that's safe money.

modder9

Next year NYSE and CBOE are doing 24x5. So that’s a step towards constant casino.

Silly_Trouble_8089

Tom was a market maker at CBOE for 20 years so I'm pretty sure he knows how to turn a profit. But I'm pretty sure he didn't run Tasty style trades as a MM :)

Arcite1

The reason Central time often comes up is that the original options exchange in the USA is the CBOE (Chicago Board of Options Exchange,) and Chicago is located in the Central time zone.

NationalOwl9561

Yeah it’s just GEX. With SPX though you can quite easily (but very expensive) get MM only gamma using CBOE. But again in my experience, NDX appears to be the strongest and most accurate on a more consistent basis. I’ve written about SPX gamma on my blog (no it’s not a fucking paid substack. It’s free). https://foxchasetrading.com

modder9

Next year NYSE and CBOE get 24/5. Not quite 24/7 but it will be a small shake up. Trading options in that large window will be interesting.

LittleBoy1954

"... more advanced traders should use VIX" As should beginning traders. The CBOE Volatility Index (VIX) is a real-time market index extensively used by options investors to evaluate market sentiment and perceived risk. It's something that all traders should have some knowledge of. Not knowing about VIX is like me teaching a new student how to fly and not telling them about the four forces of flight. Δ

Scannerguy3000

Let me open with … I could be wrong. You may be right. My understanding is that the CBOE, TastyTrade, and various academic studies say 45 days is the sweet spot for monthlies, and 30 days is the sweet spot for weeklies.

Brawmethius

There is no conspiracy here you illiterate fuck. Gamma can't be over 1, its a correlation of the data feeds and available option data breaking down to giant moves, and CBOE tends to be the broken part of the data feed. All options clear through the OCC, so this means that the data feeds are spitting out LITERALLY IMPOSSIBLE VALUES and then the market just fucking rips. That is the start and the end of the correlation and CBOE just happens to be the data black hole when these happen. Fuck. Learn. To. Read.

Brawmethius

The positive gamma today went actually fucking bananas. The OI says this shouldn't be possible. Everytime this mismatch has happened overall option data streams have been nonsense, CBOE has delayed data which sometimes they never back fill... but more importantly it always does a face melting rip. Been tracking it for a minute, but now pretty sure its a valid indicator. Can't say I know whats happening on the back end with the data feeds fucked, but implications is that eye water amounds of 0dtes Calls are being opened and they just aren't seen in the normal feeds. Who knows CBOE are some fucking sleezebags of the sleezebags, practically run their own cartel.

Brawmethius

MOM THE GREEKS AND OI DATA ARE ONCE AGAIN DISAGREEING WITH EACH OTHER. CBOE BE FUCKING UP THE DATA FEED AGAIN. OI says gamma shouldn't be what it is. Btw the (last time)[https://www.reddit.com/r/wallstreetbets/comments/1oqrgec/daily_discussion_thread_for_november_07_2025/nnn3g7w/] this happened SPY ended 1.5% green.

JayM05

Checking this out now, thank you for the suggestion. This is the first I've heard of the CBOE

JayM05

I appreciate this, thank you for the recommendation. Looking at the safe haven post as well as CBOE as keyser suggested below.

modder9

Next year we get 24x5 NYSE and CBOE.

funkywhitesista

CBOE?

keyser_squoze

Absolutely a must. Helped me a ton. Dry as hell but I still refer to it when I have questions. And I’d urge the OP to take basic options courses offered by CBOE. Get an actual foundation.

scm66

My theory is that nobody actually makes money with options. There's a reason why former CBOE pit traders all sell courses now. They couldn't make money trading after their pit trading jobs were replaced by algos.

Intelligent_Watch877

I've noticed I suddenly have almost no trades going through PHLX, whereas before it was second to CBOE. Any idea why this would be?

Copperhead881

You think the CBOE is gonna let him buy 1.3 billion in fucking puts? He used that money to get the contracts written exactly the way he wanted.

Disastrous_Way9425

The financial instruments he created were for 100's of millions of dollars. The CBOE would've shit their pants and stopped the trading if this were based on put options.

jurassicman11

Never tried it tbh, but I saw a post the other day from someone saying they traded SPX during the AWS interruption and lost their profit and initial cost of the contract. I think because Robinhood support said something about SPX and CBOE, don’t really remember

modder9

CBOE is Mecca

theSherlockView

found out via a macro voices podcast on abaxx 5 years ago. You can listen to it as i think much of the story is still the same. I have some long form articles on Abaxx on my x account. And if you search there there are some great accounts to follow. you can dm if you want the specific names. They tried to uplist via CBOE global markets years ago but it failed ultimately for a variety of reasons and Abaxx didn't feel the effort was worth it at the time for nasdaq. i believe they are looking to start again next year. No idea who it is. All of their investments recently have been strategic, no idea who they are. They just got funds for over a year of runway and as revenues pick up fast this will naturally grow. i would expect they do another raise when they uplist if if the stock is 2-3 billion USD already, then dilution would be minimal. annual report is available on sedarplus

AdFun4962

I took IBKR option analysis and checked the value reported for a stock. I checked for NVDA. For Dec 19 the annual IV reported is 49.44% (it should be ATM). The daily IV reported is 3.11% for the same option by IBKR. That’s exactly 49.22/sqrt(252). You are welcome to check this yourself. You can see how to here https://www.ibkrguides.com/traderworkstation/option-volatility-trading.htm?Highlight=Volatility+Trading I googled it already before commenting, thank you for the suggestion tho and I couldn’t find a conclusive answer as it seems the IV can be reported both in calendar and trading year. Here https://www.interactivebrokers.com/webinars/WB_1812_CBOE_Understanding_Implied_Volatility.pdf it says explicitly that one can use 365 or 252. So at least a major broker uses 252days for annual IV. Or, equivalently, uses sqrt(252) to provide daily value. You can also check another broker to make sure of what numbers they are reporting. Perhaps you owe to do some research yourself as I haven’t written those documents and CBOE and one major broker seems to contradict your statement that annual IV is *always* on 365-days basis.

Brawmethius

Hmm we have a favor to positive gamma, but OI at strike 0dte and 1dte implies this shouldn't be possible. MOM CBOE IS FUCKING UP THE DATA STREAM AGAIN, THEY WHEELING AND DEALING PHAT 0DTES AND NOT GODDAM UPDATING FLOW

EmpathyFabrication

Well why not? There's similar RoR for doing a basic putwrite strategy on SCHD and I end up with a good ETF if assigned, and similar net yearly distributions. Doing a basic buywrite strategy on KO beats or matches for example ULTY. In fact just buying and holding KO and collecting the .51 dividend probably beats ULTY. The only question YM fanboys need to answer is why YM funds can't maintain NAV while also failing to beat the CBOE buywrite.

jasperCrow

The amount of PLTR puts that are about to be bought at open are gunna crash the CBOE

Galadon17

Just saw this and yes, charm is pretty useful towards the end of day especially for 0DTEs. Gamma and vanna exposure matter more towards start and mid day, this is for trading ES using SPX options greeks. You'll have a positive charm zone below spot (which has a bearish pressure on the underlying) and negative charm above spot (which will have a bearish pressure on the underlying). The only issue is finding accurate data for trading this. I wouldn't use spotgamma since they use OI as a stand-in for matchmaker's trades, you need to go with a provider that uses trades flow analysis or something like direct CBOE data which actually provides market participant info. I do have a working model using OI (one that I made myself for personal use) and it is fairly accurate, but I'm working towards making enough money with my current model to buy CBOE data. Not selling anything, but just stating that the easy part is building the model. The harder part is getting accurate data, since almost every so-called "GEX provider, vanna exposure provider and charm exposure provider" has different data. Great models but ultimately it boils down to how bad do you want it to be accurate. And I don't think these so-called providers really care enough to get the most accurate data, since there isn't really much of an incentive for them to do so if their current models already get them enough subscribers.

Ma4r

Only NIFTY have intraday OI data, for CBOE, you need to estimate on your own

Party_Difference_442

Do be careful, VIX are through CBOE and they are notorious for assigning at expiration. I moved away from $VIX because of that. If I may say, there are some who say stocks are just like gambling, which is false in many ways because in gambling you win or you lose all the money that you put on the line, while in stocks you mostly have a chance to get out and save some of your capital. Vix though is the closest stocks get to gambling, if we stretch our analogy of stocks and gambling.

DoubleFamous5751

One of the companies most of you regards(couldn’t be me) use everyday is looking real 🥵 on the daily chart. CBOE , they make markets so us regards (and almost every major market player) can gamble via options derivatives. Buying companies you use every day is a good strategy. https://preview.redd.it/h7dfpcghnqyf1.jpeg?width=260&format=pjpg&auto=webp&s=e7a1d4f9d4181a2259ce6b409a226eabceb5b62f

PapaCharlie9

Keep in mind that market makers and wholesalers are for-profit businesses. They have no incentive to share that information with anyone, let alone their competitors or for free. The closest you can come is per-exchange order books, which integrates the net activity of all the market makers involved in a contract series on that exchange. Which means having some kind of license or access to each exchange in question. Since you only want SPX, that narrows it down to CBOE. The level of access you want might only be available to broker-dealers, so that would mean you'd have to find a client facing API or broker platform that provides that data (insofar as they are licensed by the CBOE to republish such data). Notifying /u/Ken385 for further enlightenment.

Damerman

The CBOE matches the longs and the shorts of options contracts overnight. Someone literary triggered this event. Its not any particular limit order for shares that triggers this event.

NOMERCYDLKH

!banbet CBOE 2.5% 1D

NOMERCYDLKH

Thoughts on CBOE?

alex_on_redd1t

i'm buying CBOE $235 calls for 10/31. balls deep.

SDirickson

No, the technical definition has nothing to do with any of those. It's right there in the CBOE's Service Mark Registration for "LEAPS": "Option Market Services; namely, facilitating the trading of options of extended length on stocks and stock indexes in Class 36 (U.S. CL. 102)." "extended length" has come to be widely accepted as being "more than one year", though the registration doesn't actually quantify it.

No-Mail-1200

There is a public platform that shows customer, firm, and market maker volume. CBOE

greytoc

Ibkr options trading doesn't sleep. The maid brings you an energy drink so you can keep trading. Ibkr is only retail broker that I'm aware that supports CBOE GTH options trading. And there's also futs and fops.

Ken385

CBOE is just an exchange that an order may be filled on and almost all trades here will be filled electronically, not on the floor. Floor trades occur here mainly in the SPX and VIX products. There is a specific tag that tells you what type of order it is (unfortunately some brokers time and sales information may not pass on this tag) You can see a list of the tags here, [OPRA\_Pillar\_Input\_Specification.pdf](https://cdn.opraplan.com/documents/OPRA_Pillar_Input_Specification.pdf) starting on page 26.

stonkflipper

What tag is it? CBOE? Is it correct to assume all trades routed through CBOE on time and sales are floor trades?

Ken385

There are only a few exchanges that have floors, the CBOE being one. If you just wanted the order routed to the floor, the trade desk would need to send the order to a floor broker. You can actually see which orders are filled on the floor, as there is a special tag in time and sales indicating how it was filled.

y1pp0

You're correct. I just double-checked [myself ](https://cdn.cboe.com/resources/membership/US-Options-Complex-Book-Process.pdf)and was wrong. CBOE exchange can and will fill your iron condor by matching it against four separate orders. They state the best price available for a complex order can often be obtained by legging the complex order into the individual series books.

stonkflipper

On a separate note, are there any specific exchanges that route floor trades only? Is that the CBOE? Does anyone have any exchanges that they put more value into watching flow from than others? I’m wondering if you could filter out retail flow and just focus on institutional if you change your filters to only include certain exchanges?