Cboe Begins Offering Daily Expirations for Dow Jones Industrial Average Index Options

• Dow Jones Industrial Average index (DJX) options now have contracts expiring every trading day
• Exclusively listed on Cboe, DJX options are based on index 1/100^th the size of Dow Jones Industrial Average
• Expansion of expirations reflects growing demand for short-dated index options trading strategies

CHICAGO, May 18, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity derivatives, today announced the expansion of its Dow Jones Industrial Average^® index (DJX) options suite with the addition of daily expiring options, effective May 18, 2026.

DJX options are exclusively listed and traded on Cboe Options (C1) and Cboe C2 Options (C2) exchanges and provide investors access to one of the oldest and most widely followed equity indices, the Dow Jones Industrial Average (DJIA^®), which measures the performance of 30 blue-chip U.S. companies. DJX options are based on 1/100^th of the DJIA level, providing a more efficiently sized contract for traders to manage their notional exposure with greater flexibility and precision. As of March 31, 2026, DJX index options had an open interest representing more than $472 million in notional value.

"We have seen that investors are increasingly utilizing index options for their shorter-dated strategies, and Cboe is proud to broaden our product lineup across different types of market exposures and index constructions to include daily expiring options on a household-name such as the Dow Jones Industrial Average," said Meaghan Dugan, Head of U.S. Derivatives at Cboe. "For decades, The Dow^® has been a closely watched gauge of market performance. By adding daily expirations, traders have another tool to help hedge or implement yield strategies with DJX options to complement or augment their existing strategies."

Cboe offers daily expirations for several of its proprietary index options, including S&P 500 Index^® (SPX^®) options, mini-SPX (XSP) options, Russell 2000 Index (RUT) options, Cboe Magnificent 10 Index (MGTN) options, Cboe Bitcoin U.S. ETF Index (CBTX) options and Cboe Mini Bitcoin U.S. ETF Index (MBTX). Shorter-dated or zero-days-to-expiration (0DTE) trading has grown significantly in recent years, driven in part by increased retail adoption and the demand for daily hedging, income generation or directional strategies without overnight risk exposure. In the first quarter of 2026, 0DTE trading represented a record 50.11% of all index options trading on Cboe's options markets.

Cboe has secured broad industry support for the expansion of the DJX options suite, including from major U.S. and international retail brokers.

Robert Ross, Chief Commercial Officer at S&P Dow Jones Indices, said: "We are delighted to deepen our collaboration with Cboe to license the Dow Jones Industrial Average for index (DJX) options with daily expirations, responding to the demand from investors for more agile and transparent risk-management trading solutions. With the 1/100th contract size and cash settlement, these options help democratize access to DJX blue-chip index trading, empowering traders of all levels to execute swift, precise strategies with greater ease and confidence."

Abhishek Fatehpuria, VP of Product Management at Robinhood, said: "As retail traders become more sophisticated, we're seeing them take a more active approach to managing short-term market exposure. Cboe's addition of daily expirations for DJX options reflects this demand and gives customers another precise tool to help them manage risk and express near-term views."

Jeff Shi, Regional Director of Futu Securities, said: "Futu helps investors access global markets with fast execution, real‑time data, and powerful trading tools, making it easier for our clients to respond to market opportunities. We have seen strong and growing interest among our clients in short‑dated options strategies, from weekly expirations to daily expirations, particularly as investors seek more precise tools to manage risk and capture short‑term opportunities. The introduction of daily expirations for DJX options is a timely enhancement that broadens the toolkit available to both retail and active traders, and we believe this product will further support the increasing demand for flexible, capital‑efficient exposure to the Dow Jones Industrial Average."

Wolverine Trading said: "As a leading liquidity provider, Wolverine Trading is pleased to serve as the Designated Primary Market-Maker (DPM) in DJX options, helping to expand trading opportunities in an index as recognizable and tracked as the Dow. Short-dated trading strategies have shifted the way many participants generate income and manage risk. With its price-weighted structure of 30 blue chip constituents, and now the availability of daily expirations in European-style, cash-settled options, DJX options may offer unique appeal to U.S. and foreign investors."

Index options are designed to offer the benefits of cash-settlement, which means accounts are debited or credited in cash and there is no physical transfer of shares, and European-style exercise – meaning options expire on their expiration date and there is no risk of early assignment. We believe these important contract dynamics, along with the mitigation of contra-exercise risk, make index options desirable for daily trading strategies and precise risk management.

Cboe began listing P.M.-settled DJX options expiring Monday to Thursday (options symbol: DJXW) on May 18. The DJXW options are in addition to the existing Friday P.M.-settled weekly contracts and third Friday A.M.-settled monthly contracts. DJX options are available to trade from 9:30 a.m. ET to 4:15 p.m. ET, Monday through Friday.

For more information, visit DJX Index Options.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.

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Cboe^®, Cboe Global Markets^®, and VIX^® are registered trademarks and Cboe Magnificent 10 and MGTN are service marks of Cboe Exchange, Inc. The Dow Jones Industrial Average and the S&P 500 Index are proprietary to S&P Dow Jones Indices LLC or its affiliates. S&P^®, S&P 500^®, The 500^®, US 500^™ and  SPX^® are trademarks of Standard & Poor's Financial Services, LLC or its affiliates; Dow Jones^®, Dow Jones Industrial Average^®, DJIA^® and The Dow^®  are trademarks of Dow Jones Trademark Holdings LLC; all of which have been licensed for use by Cboe Exchange, Inc. Cboe Exchange's options on the Dow Jones Industrial Average and the S&P 500 Index are not sponsored, issued or endorsed by S&P Dow Jones Indices and S&P Dow Jones Indices does not have any liability with respect thereto. All other trademarks and service marks are the property of their respective owners.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P or the third-party sites referenced in this press release. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice or a recommendation to buy or sell a security, future, or other financial product. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

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Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.

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SOURCE Cboe Global Markets, Inc.