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12:30
Jul 31 ◎

CBOE FY2026 Q2 Watch

Cboe Global Markets, Inc. (CBOE) FY2026 Q2 Earnings Call

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Rob Hawking

Cboe's planned KPI contracts on specific metrics for companies like Nvidia and Microsoft could create new linked derivatives on their fundamental performance.

"So, for example, think in, you know, Nvidia's data center revenue, think Microsoft's cloud-based revenue."

NVDA WATCH MSFT WATCH

Rob Hawking

Schwab's launch of Cboe Predicts contracts is a key distribution win for Cboe's new event-contract products, likely to drive early volume.

"...we've also been working very closely with Schwab as an anchor tenant and are extremely excited that they just reported they'll begin offering these contracts on their platform to clients very soon."

SCHW WATCH

Craig Donahue

Management raised full-year 2026 revenue guidance due to broad-based strength across all business segments, driven by sustained options volume growth, retail engagement, and new product initiatives.

"We now expect SIBO total organic net revenue growth in 2026 to be in the mid to high teens range, up from last quarter's low double digit to mid-teens guidance."

CBOE WATCH

Rob Hawking

Robinhood is a significant driver of the recent surge in retail options volume, a trend benefiting Cboe's core business.

"So using their publicly available data, Robinhood's June options ADV increased over 30% from May and almost 80% year over year, while Webull's increased 36% month over month and 100% year over year."

HOOD WATCH

HIGH

12:30
May 01 ◎

CBOE FY2026 Q1 Watch

Cboe Global Markets, Inc. (CBOE) FY2026 Q1 Earnings Call

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Craig Donahue

Reinforces the long-term licensing partnership between Cboe and S&P DJI, which is critical to Cboe's flagship SPX franchise.

"we were pleased to be joined by our long-term partner, S&P Dow Jones Indices, for the inaugural televised bell ringing on the SIBO floor"

SPGI WATCH

Craig Donahue

New marketing partnership aims to elevate Cboe's brand and drive engagement with its flagship products.

"Through our new partnership with CNBC, we are bringing the power and expertise of SIBO's iconic trading floor to a global audience."

CMCSA WATCH

Craig Donahue

Management's tone is highly bullish, with record revenues, raised guidance, and a clear strategy for growth in derivatives and new markets.

"SIBO delivered another quarter of record net revenue and adjusted earnings powered by continued strength across all of our core businesses."

CBOE WATCH

HIGH

13:30
Feb 06 ◎

CBOE FY2025 Q4 Watch

Cboe Global Markets, Inc. (CBOE) FY2025 Q4 Earnings Call

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Rob Hawking

Robinhood's retail options volume is a source of order flow for CBOE, and its growth is a positive demand indicator for their derivatives products.

"Robinhood was a great ad. We continue to see their options volume grow, which is super exciting."

HOOD WATCH

Rob Hawking

CBOE's new event contract products depend on OCC's clearing readiness, indicating a collaborative partnership for new product launches.

"we need to launch these with the various partners we have in the industry such as OCC and a lot of the retail broker platforms"

OCC WATCH

Rob Hawking

New single-stock 0DTE options (Monday/Wednesday expirations) are initially concentrated in NVIDIA and Tesla, but management believes they are additive, not cannibalistic, due to fundamental differences in product design (cash vs. physical settlement). — Early adoption is high in high-volatility names, and management views this as expanding the industry pie while emphasizing the structural advantages of their index options.

"Monday-Wednesday options are ranging between 10 to 30 percent of the total number of options that are trading in the nine names that were launched."

NVDA WATCH TSLA WATCH

Craig Donahue

Management is optimistic and bullish, citing record results, strong secular tailwinds in derivatives and multi-list options, and a focused strategic direction for 2026.

"we begin 2026 with a position of real strength, supported by healthy secular tailwinds, a fortified and aligned leadership team, and a sharpened focus on each of our core businesses."

CBOE WATCH

HIGH

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