Cboe Wins Approval for Longer Equity Options Hours
Published Date: 6/2/2026
Notice
Summary
Cboe Exchange got the green light to let traders buy and sell certain popular stock options for longer hours. This change affects investors who trade multi-listed equity options, giving them more time to make moves outside regular market hours. The new extended trading sessions could mean more chances to react to news and potentially more trading activity starting soon.
Analyzed Economic Effects
7 provisions identified: 3 benefits, 0 costs, 4 mixed.
Equity Options: Longer Trading Hours
Cboe is allowed to offer extended trading for certain multi-listed equity options Monday through Friday in two new windows: a morning session from 7:30 a.m. to 9:25 a.m., and an afternoon Curb session from 4:00 p.m. to 4:15 p.m. This change lets investors trade those eligible equity options outside the regular 9:30 a.m.–4:00 p.m. hours.
Only Biggest, Most Liquid Options Qualify
Up to 100 equity option classes may be designated for the extended sessions, and each must meet six-month minimums: average daily option volume of 150,000 contracts, underlying company market capitalization of $50 billion, and underlying average daily share volume of 10 million shares. Options already trading on another exchange during extended hours may be added without counting toward the 100-class cap.
FLEX Equity Options Included
If the Exchange designates a class of equity options as eligible for the extended morning or Curb sessions, FLEX options with the same underlying equity will also be eligible to trade in those extended sessions. That means customizable (FLEX) equity option orders tied to approved underlying securities can trade in the new windows.
Trading Mechanic Rules For Extended Sessions
During the proposed extended sessions, market orders would not be permitted for equity options and order routing will be available across sessions (the Exchange changes routing availability to begin at 'market open'). Opening auction queuing for GTH equity options would begin at 7:15 a.m., and equity FLEX orders designated for GTH may be submitted after 7:30 a.m. and after 4:00 p.m. for the Curb session.
Semiannual Eligibility Reviews and Start Dates
The Exchange will review eligibility semiannually using the prior six months of data on January 1 and July 1. Eligible classes determined in those reviews may start trading in the extended morning and Curb sessions on the first trading day of February and August, respectively.
Removal Process and Notice Periods
If an equity option no longer meets eligibility, the Exchange may continue trading it in extended sessions for up to 18 months and will provide advance notice of the removal date; notices can be accelerated with at least seven days' notice, other discretionary removals require at least 30 days' notice, and immediate removal is allowed for investor protection or fair and orderly market reasons.
Disclosure: Lack Of Underlying Price During Extended Hours
The Exchange updated customer disclosure rules (Rule 9.20) so Trading Permit Holders must inform customers that during the proposed GTH and Curb sessions equity options may trade when there is no updated underlying price or regular trading in the underlying equity. This tells customers about the risks of trading options when the underlying may not be actively quoted.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-14620 — Self-Regulatory Organizations; Texas Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt the Initial Schedule of Fees and Rebates Applicable to Members of the Exchange and Adopt a Monthly Membership Fee
The Texas Stock Exchange is rolling out its first-ever fee and rebate schedule for its members, plus a monthly membership fee. This means anyone trading on TXSE will see new costs and potential rebates starting as soon as the exchange opens. It’s all about setting clear rules and fees to keep things running smoothly from day one.
2026-14624 — Self-Regulatory Organizations; LCH SA; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating To Providing Clearing Services for Fee Grid for the Triparty Collateral Mechanism
LCH SA is updating its rules to allow certain securities to be used as initial margin through a special triparty collateral system. They’re also adding new fees for this service, which take effect immediately. This change mainly affects financial firms using LCH SA’s clearing services and means some new costs will apply starting now.
Previous / Next Documents
Previous: 2026-10947 — Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; iEdison System
The Department of Commerce wants your thoughts on how they collect invention info through the iEdison system, which helps track inventions made with federal research money. If you’re a researcher or organization with federally funded inventions, this affects you! They’re asking for comments by August 3, 2026, to keep the process smooth and avoid extra paperwork or costs.
Next: 2026-10952 — Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 515A, MIAX Price Improvement Mechanism and PRIME Solicitation Mechanism
MIAX is updating its PRIME rules to let Market Makers’ orders be invited as trading partners in special price improvement auctions. This change helps speed up trades and could lead to better prices for investors using options. The new rule is effective immediately, so Market Makers and traders should get ready to benefit right away!