Stock Options Get Extra Trading Hours: SEC Reviews Cboe's Plan
Published Date: 4/9/2026
Notice
Summary
Cboe Exchange wants to let traders buy and sell certain popular stock options for longer hours, beyond the usual trading times. This change affects investors who trade multi-listed equity options and could mean more chances to trade and possibly more money-making opportunities. The SEC is reviewing this updated plan and asking for public feedback before making a final decision.
Analyzed Economic Effects
5 provisions identified: 3 benefits, 1 costs, 1 mixed.
Equity Options: New Extended Hours
Cboe proposes new extended trading sessions for certain multi-listed equity options: a Global Trading Hours (GTH) session from 7:30 a.m. ET to 9:25 a.m. ET and a Curb session from 4:00 p.m. ET to 4:15 p.m. ET, Monday through Friday. If approved, you could trade eligible equity options during those extra times outside the current 9:30 a.m.–4:00 p.m. Regular Trading Hours.
Who Can Trade in Extended Hours
The Exchange may designate up to 100 multiply‑listed equity option classes to trade in GTH and Curb. To be eligible, an option class must in the preceding six calendar months have (i) average daily option volume of 150,000 contracts, (ii) an underlying equity market capitalization of $50 billion, and (iii) underlying equity average daily trading volume of 10 million shares.
Semiannual Selection and Removal Rules
Cboe will select eligible option classes semiannually following January 1 and July 1 using six‑month data and publish designated classes in an Exchange notice; newly designated classes may begin trading the first trading day of February and August. If a designated option no longer meets eligibility, the Exchange will remove it from extended sessions within 18 months, or sooner with at least seven days' notice if there is limited activity, 30 days' notice for other reasons, or immediately if needed for investor protection.
Other-Exchange Listings Not Counted
If an equity option is initially traded on another exchange during that exchange's extended trading session, Cboe may trade that option in its extended sessions without counting it toward Cboe's 100-option class limit. Such externally‑initiated extended‑hours listings will not count against Cboe's selection cap.
Operational Changes for Orders and FLEX
Cboe proposes operational changes to support extended sessions: order routing will be available from market open to market close (instead of starting at 9:30 a.m.), equity FLEX orders may be submitted after 7:30 a.m. for GTH and after 4:00 p.m. for Curb, and the GTH queuing period for equity options will begin at 7:15 a.m. Users can tag orders as RTH‑Only, RTH and Curb, or All Sessions and existing ports will work for extended sessions.
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Key Dates
Department and Agencies
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