Trading

CBOE (Chicago Board Options Exchange)

By Ryan Silk & Lawrence Polatchek · Reviewed April 2026 · Options Trading Glossary

Largest US options exchange, creator of VIX

What is CBOE (Chicago Board Options Exchange)?

CBOE (Chicago Board Options Exchange) The largest options exchange in the United States and the creator of listed options trading. CBOE introduced the VIX Index and operates markets for equity options, index options (including SPX), VIX options, and ETF options. CBOE's Cboe Global Markets also operates four U.S. equities exchanges.

Complete Definition

The largest options exchange in the United States and the creator of listed options trading. CBOE introduced the VIX Index and operates markets for equity options, index options (including SPX), VIX options, and ETF options. CBOE's Cboe Global Markets also operates four U.S. equities exchanges.

Related Terms

Vix Index Exchange Traded Options Clearing Corporation

Written by

ApexVol Research Team

Quantitative options research

All calculations use live ORATS institutional data — the same source used by professional volatility desks.

Technical reviewer

Ryan Silk, ApexVol Founder

Reviewed for technical accuracy

10+ years trading options. Built ApexVol's pricing engine, Greeks model, and IV-rank methodology.

This guide is updated as market conditions and ORATS data change. Last revised 2026-05-12. How we research →

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