Jun. 29 at 4:46 PM
$HOOD custs execute the most retail options contracts in North America w/ June monthly volumes hitting at record 274M contracts traded [up +38% y/y] -
$CBOE option volumes in 2Q26 will be a record, yet down -37.11% from its 52-week high
Note: CFTC has strictly limited current perpetual approvals to digital assets like Bitcoin and Ether. While the market fears perps will extend to equities or commodities, regulatory approval for individual single-stock perpetual futures faces a massive multi-agency barrier from both the CFTC & the SEC. CME is currently litigating this rule.
The massive engines of Cboe's revs are its proprietary, cash-settled SPX & VIX index options - these are institutional hedging tools used by multi-billion-dollar fund managers, market makers, & pension funds. Institutional mandates cannot swap a regulated index option for a high-risk, unexpired perpetual crypto contract
CBOE previously launched Bitcoin (PBT) & Ether (PET) "Continuous Futures", which utilize a 10-year expiration date paired w/ a daily funding rate adjustment to mimic the feel of offshore perps & is evaluating a complete conversion of its continuous crypto products into standard, pure perpetual contracts
FD: Long both
