Mini-SPX Options Hit Record at Cboe, Same-Day Trading Share Tops 66%

Cboe reported record July activity in its mini-SPX (XSP) options, with average daily volume reaching 238,000 contracts, including 138,000 0DTE contracts. Same-day expiries accounted for a record 66.2% of activity in SPX options, highlighting strong demand for short-dated S&P 500 exposure. The article also notes broader growth in index derivatives, with Cboe index options ADV up 34% year over year to 5.99 million contracts. Similar trends were seen at CME, where smaller equity index products gained share and Micro E-mini equity index futures and options represented 54% of Equity Index ADV in July. Overall, the piece signals rising trader preference for smaller, more flexible, short-duration index products tied to the S&P 500 benchmark.