CBOECboe Global Markets, Inc.
Cboe Global Markets, Inc. (CBOE) sells options and volatility products, including index options, equity options, and volatility indices like the VIX and BITVX. The next catalyst is Oct 30, 2026 — Q3 2026 Earnings Release, which will test the company’s ability to deliver strong revenue growth from its high-margin derivatives business and navigate regulatory and macroeconomic headwinds.
- Revenue grew 217% YoY in 2017, driven by options trading.
- Net margin of 71.7% (TTM) reflects strong pricing power.
- Debt-to-equity of 0.34x suggests a balanced capital structure.
The Read
5% gains driven by strong beats, raised guidance, and strategic focus on high-margin derivatives and data.
The schedule
- Tue27Oct
- Fri30Apr
- Fri23Jul
Past
- Fri31Jul
- Wed29Jul
Actual outcome: Bull · $297.83 at outcome
CBOE delivered a strong Q2 earnings beat, reporting EPS of $3.56 against estimates of $3.45. The stock maintained levels well above the bull target as the company posted record options revenues, demonstrated stronger margins, and raised its 2026 revenue outlook.
The FOMC's rate decision under the Trump administration will be critical for the trajectory of VIX and SPX options volumes.
- Wed10Jun
Actual outcome: Mixed · $292.91 at outcome
Cboe Global Markets released its May trading volume statistics earlier in the month, but the stock experienced a muted 2.7% decline between the event and outcome dates. While the highly anticipated launch of SpaceX options trading and positive analyst commentary provided some underlying support, broader concerns over crypto regulation weighing on financial exchanges kept the stock's price action relatively flat and ambiguous.
- Fri1May
Actual outcome: Bull · $346.00 at outcome
CBOE delivered a significant Q1 beat with record adjusted EPS of $3.70 against a $3.37 estimate and substantially raised its 2026 organic revenue growth guidance to 'low double-digit to mid-teens.' The stock cleared bull targets as investors reacted to the strong financial performance and strategic moves, including a 20% staff reduction and the sale of non-core international exchanges to focus on high-growth derivatives and data segments.
- Tue10Mar
Actual outcome: Bull · $295.95 at outcome
Cboe successfully validated its proprietary product strength by reporting steady February trading volumes and significantly expanding its volatility franchise with the launch of the BITVX Bitcoin Volatility Index. Additionally, the introduction of a new prediction markets framework and the listing of the NPFE ETF demonstrated continued execution of its growth strategy, supporting the bull case for high-margin derivatives
- Fri6Feb
Actual outcome: Bull · $280.88 at outcome
CBOE delivered a strong Q4 2025 earnings beat (EPS $3.06 vs. $2.93 estimate) and topped revenue expectations. The positive results were driven by higher volumes across the high-margin derivatives platform and solid cash and spot markets performance, directly addressing the need for strength in key segments. This fundamental outperformance justified the stock's premium valuation and led to a strong market reaction, initially clearing the $275.00 bull target.
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