Index Options Trading

Trade options on indexes such as SPX, XSP, NDX and RUT, with Cboe's later close and settlement rules taken into account.

On this page

What's different from stock options

Index options work like stock options, with the same contract formats and contract-picking settings. The differences:

Create a strategy with the Index Options asset class. A Stock Options strategy doesn't trade index contracts.
Trading hours: index options trade until 16:15 ET (13:15 on early-close days), 15 minutes after stocks. On a contract's own expiration day, a PM-settled contract (such as 0DTE SPXW or XSP) stops at 16:00. An AM-settled contract doesn't trade on its expiration day, and the broker rejects the order.
Roots: SPX has monthly contracts (SPX) and weekly/daily ones (SPXW). Send the contract with the root you mean, or send the index and let the subscription pick.
XSP is the mini SPX: one-tenth of SPX's size.
One position per underlying: an SPX position and an SPXW position count as the same underlying, and a second one is refused.

{
    "ticker": "SPXW 261120C5800",
    "action": "buy",
    "quantity": 1
}

See Broker Support. The Index Options rows show which brokers trade them.