In the US, Cboe to extend trading hours for options on shares of 24 companies — CNBC
In the United States, Cboe Global Markets will expand trading hours from Monday for options on shares of 24 actively traded companies and five exchange-traded funds. According to CNBC, market participants will be able to execute trades from 7:30 to 9:25 and from 16:00 to 16:15 U.S. Eastern Time.
The U.S. Securities and Exchange Commission previously approved the changes, and regulators also allowed the exchange and Options Clearing Corp. to introduce the new trading regime. Cboe already holds premarket and after-hours sessions for index options. According to the exchange, average daily premarket trading volume reached a record 228,097 options in the previous quarter.
Which assets will be covered by the new regime
The list includes shares of the so-called “Magnificent Seven,” as well as Oracle and Micron. Other securities available during the additional hours will include Robinhood, Nokia, Palantir, Pfizer, and Alibaba. Cboe will review the list twice a year.
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The extended schedule will also apply to options on five ETFs: SPDR S&P 500 ETF Trust, Invesco QQQ Trust, iShares Russell 2000 ETF, SPDR Gold Shares, and Financial Select Sector SPDR ETF.
Terms and further changes
To be included in the program, the underlying asset must meet several criteria: average daily options trading volume over the previous six months must be at least 150,000 contracts, market value must be at least $50 billion, and average daily share trading volume must be at least 10 million. Due to these requirements, SpaceX does not yet meet the criteria.
Brokers TradeStation and Robinhood Markets said they would provide clients with access to trading during the new sessions. Cboe also plans to add additional morning options expiration times on November 9. Separately, the exchange received SEC approval to offer binary options linked to key performance indicators of individual companies.
