Cboe Global Markets just posted record numbers for May 2026, averaging 22 million contracts per day across its four US options exchanges. That beats the previous high of 18.8 million ADV set in March 2025, a roughly 17% increase in just over a year.
The biggest driver was multi-listed options, which alone hit 16 million contracts ADV, a record for Cboe. Index options contributed 6 million contracts, the third-best monthly figure ever for the exchange.
SPX options reached a single-day ADV record of 6.5 million contracts during Global Trading Hours on May 6, highlighting growing international and overnight demand.
On the futures side, Cboe reported $5.8 billion in notional value for high-yield corporate bond index futures, another record.
The first quarter of 2026 was already historically strong across the US options market, with industry-wide ADV at 68.6 million contracts. Cboe's 22 million represents a significant share.
The records reflect structural changes in derivatives usage, including more expiration dates and expanded hours. Cboe's Bitcoin US ETF Index Options also tap into the growing crypto-traditional finance intersection.
For investors, the GTH record suggests real demand for around-the-clock risk management. The growth in credit derivatives could reshape fixed-income portfolio management.
For Cboe as a business, volume records translate directly to transaction revenue, a tailwind for earnings.