Stats Options, shorts and positioning Options volume

Same day options are 59% of all S&P 500 option volume

Multi-list
13.5m
Index
4.9m
SPX
3.9m
SPX 0DTE
2.3m
VIX
0.862m

Multi-list options on individual stocks are the bulk of contract count. Index options are far fewer contracts but each one is much larger in notional terms. Source: Cboe full year 2025 volume release.

An option is a contract with a deadline, and that deadline has moved to today. Options expiring the same day they are traded made up 59% of S&P 500 option volume in 2025, and 62.4% in August. The product barely existed before 2022.

18.4mCboe daily volume, 2025
3.9mSPX options a day
2.3mSPX 0DTE a day
59%0DTE share of SPX, 2025

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