#美股期权延长交易时段 Cboe Gains SEC Approval for Extended Trading Hours in Options, Further Advancing "Around-the-Clock" US Stock Trading

Chicago Board Options Exchange Global Markets Inc. announced that the U.S. Securities and Exchange Commission (SEC) has approved its application to extend trading hours for certain multi-market listed stock options. This marks another significant step by Cboe in pushing the US market toward "near 24/7 trading."
Cboe Options Exchange plans to officially launch the extended trading hours on July 13, 2026. The new trading sessions will cover two time windows from Monday to Friday: pre-market trading from 7:30 a.m. to 9:25 a.m. Eastern Time, and after-hours trading from 4:00 p.m. to 4:15 p.m. Eastern Time.
To ensure market liquidity, Cboe has set strict eligibility criteria for options included in the extended trading hours: an average daily trading volume of at least 150k contracts over the past six months, a market capitalization of the underlying stock of at least $50 billion, and an average daily trading volume of the underlying stock of at least 10 million shares. Based on these standards, Cboe expects approximately 20 highly liquid stock options to be available at launch, including the "Big Seven" tech giants as well as popular stocks like Palantir, Broadcom, AMD, and others. Cboe plans to update the tradable list every six months.
Meaghan Dugan, head of Cboe’s US derivatives business, stated: “Today’s SEC approval is a significant milestone for the US options industry. We are taking a phased approach, starting with select single-stock options, to ensure that market safeguards and investor protection measures remain effective.”
Cboe currently offers near 24/5 trading services for its proprietary index options and after-hours trading, covering S&P 500 index options and Cboe Volatility Index options. In the first quarter of 2026, trading volume during these two sessions increased by 32% compared to the same period in 2025, partly driven by strong demand from clients in the Asia-Pacific region.
In terms of US equities, Cboe already provides trading services from 4:00 a.m. to 8:00 p.m. Eastern Time on two of its four exchanges. The company also plans to launch a 23-hour, five-day-a-week US stock trading service on its Cboe EDGX Exchange this December, pending regulatory approval.
Analysts note that as US stock trading gradually moves toward "23×5" or even "24×5" hours, the mismatch between options and underlying stock trading hours becomes increasingly prominent. This move by Cboe will help investors better manage position risks during major events, especially to avoid "reverse exercise risk" caused by after-hours unexpected events.