Cboe Introduces Extended Hours for Select Options Trading

Cboe Global Markets has announced a significant expansion of trading hours for a specific set of U.S. equity and ETF options on its Cboe exchange. The move introduces dedicated pre-market and after-hours sessions, allowing traders to act on options positions outside of standard market hours.

New Trading Session Schedule

The extended hours will operate Monday through Friday, Eastern Time (ET), in two distinct windows:

  • Pre-Market: Opens at 7:30 AM and runs until 9:25 AM.
  • After-Hours: Begins at 4:00 PM, immediately following the regular close, and concludes at 4:15 PM.

This creates additional timeframes for executing options strategies based on overnight news or earnings reports.

Which Symbols Are Included?

The initial rollout encompasses a curated list of 29 highly liquid and popular underlying symbols.

The selection features a who's who of mega-cap technology stocks, including Apple, Nvidia, Tesla, Microsoft, Amazon, and Alphabet. Other notable names like Robinhood and Intel are also part of the group.

For ETF traders, several major funds that track key benchmarks are included, such as the SPDR S&P 500 ETF Trust (SPY), the Invesco QQQ Trust (QQQ), and the SPDR Gold Shares (GLD).

Implications for the Market and Traders

This expansion directly addresses investor demand for greater flexibility. Critical market-moving events, from earnings releases to economic data, frequently occur before the opening bell or after the close. The new sessions provide a formalized venue to hedge risks or position for price moves spurred by these events.

While offering more opportunities for active traders, it's important to note that liquidity in extended hours can be thinner, potentially leading to wider bid-ask spreads and increased volatility compared to the regular session.

Cboe's initiative reflects the ongoing evolution of trading infrastructure towards a more continuous environment. Market participants will be watching to see if the list of eligible symbols grows in the future.