Products & Services
The exchange offers access to many diverse products, starting with, of course, put and call options on thousands of publicly traded stocks, as well as on ETFs and ETNs. Investors typically use these products for hedging and income production through the selling of covered calls or cash-secured puts. CBOE offers options on over 2,200 companies, 22 stock indices, and 140 exchange-traded funds (ETFs). There are options available on stock and sector indexes, including the Standard & Poor's 500, S&P 100, Dow Jones Industrial Average, Russell indexes, selected FTSE indexes, Nasdaq Indexes, MSCI indexes, and sector indexes including the 10 sectors contained within the S&P 500. The exchange offers social media indexes and specialty indexes covering several options strategies, such as "put write," butterfly, and collar. Finally, the VIX index, which is the premier barometer of equity market volatility. This Index is based on real-time prices of near-the-money options on the S&P 500 Index (SPX) and is designed to reflect investors' consensus view of future (30-day) expected stock market volatility. Traders call the VIX Index the "fear gauge" because it tends to spike to very high levels when investors believe the market is very bearish or unstable.