Cboe Posts Record EPS on 0DTE Options Boom, Raises 2026 Growth Target

Published October 30, 2026 at 9:20 AM EDT

Cboe Global Markets posted record quarterly earnings per share and raised its 2026 revenue growth target, as trading in zero-day options hit new highs, the exchange operator said Friday.

Diluted EPS rose 43% to a record $4.08 in the third quarter, according to the earnings release filed with an 8-K. Adjusted diluted EPS increased 36% to $3.63. Net revenue climbed 18% to $712.2 million.

Options volume drives the gain

Net revenue in the derivatives business rose 22%, driven by a 24% increase in average daily volume of index options, supported by record activity in options that expire the same day, known as 0DTE. Cash and spot markets net revenue increased 12%, and the Data Vantage unit delivered record quarterly net revenue, up 13%.

Raised targets, lower costs

Cboe now targets organic total net revenue growth in the high teens for 2026, up from mid to high teens, and raised its Data Vantage organic growth target to mid teens from low teens. It cut its 2026 adjusted operating expense guidance to $830 million to $845 million, from $838 million to $853 million.

CEO Craig Donohue said Cboe extended its exclusive S&P license through 2051, securing its SPX and VIX franchises, and received SEC approvals to list and clear event contracts tied to company key performance indicators, with a launch planned for November.

Buybacks

Cboe repurchased shares in the third quarter at an average price of $266.17. On Oct. 22, its board added $550 million to the buyback authorization.

By the numbers

$4.08: record diluted EPS, up 43%
$3.63: adjusted diluted EPS, up 36%
$712.2 million: net revenue, up 18%
24%: growth in index options average daily volume
$830 million to $845 million: new 2026 adjusted expense guidance
$550 million: added to the buyback authorization

Sources

Cboe Global Markets Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 30, 2026 (accession 0001628280-26-068432)

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