[CBOE] Cboe: Q3 2026 Earnings Test Whether Index Options Volume Holds

Cboe Global Markets, the parent of the Chicago Board Options Exchange, is the largest U.S. options exchange operator and the third-largest U.S. equities exchange operator, and its core assets are exclusively licensed SPX index options and its proprietary VIX options and futures[1]. The company has said it will report results for the third quarter of 2026, the three months ended September 30, 2026 (2026年第三季度(截至2026年9月30日的三个月)), before the U.S. market opens on 2026-10-30[2]. In the second quarter of 2026, the latest disclosed period, net revenue (total revenues less cost of revenues) was $731.6 million, up 25% year over year; GAAP diluted EPS was $3.35 and adjusted diluted EPS was $3.56, up 45%; and the adjusted operating margin rose to 70.4% from 63.7% a year earlier[3]. Cboe does not give quarterly revenue or earnings guidance, but with its second-quarter results it raised its 2026 organic total net revenue growth target to "mid to high teens" and kept full-year adjusted operating expense guidance at $838 million to $853 million[3]; on the earnings call, management also said third-quarter net interest income should be about $8 million to $9 million[4]. For Cboe Q3 2026 earnings, the Drillr earnings calendar shows a consensus adjusted EPS estimate of $3.426 and a net revenue estimate of about $720.1 million, slightly below the second-quarter actuals, and the calendar does not state how many analysts contributed[2].

Three things matter most in this report. The first is whether index options volume and pricing hold: second-quarter index options average daily volume was 6.208 million contracts, up 32%, with revenue per contract of $0.953, lifting options segment net revenue to a record $473.9 million[3], and the options segment produces about two-thirds of company net revenue and three-quarters of segment operating income[1], so the third quarter will help separate a durable trading habit from a first-half volatility peak. The second is price versus share at the U.S. equities exchanges a year after repricing: second-quarter on-exchange net capture rose to $0.019 per 100 touched shares, but on-exchange market share fell to 9.4% from 10.5%[3], and from the third quarter the higher pricing is in the year-ago base, so growth must come from share and industry volume. The third is whether expenses stay inside full-year guidance: first-half adjusted operating expenses were $417.6 million[3], which leaves about $218 million per quarter in the second half against the $853 million top of the range, while the company is cutting staff and investing more in clearing, event contracts and other new businesses[4], and that balance decides how much volume growth stays in profit.

Company Background and Business Structure

Cboe's moat comes from exclusive index products rather than from order matching itself. The company holds exclusive U.S. listing rights for options on the S&P 500 Index and other indices and owns the VIX Index methodology, and in 2025 about 68% of net revenue came from the options and futures segments, most of it from SPX options and VIX options and futures[1]. On September 28, 2026, Cboe signed a new master license agreement with S&P DJI that extends these exclusive rights through December 31, 2051[5], replacing exclusive S&P 500 Index options rights that had run only through 2032[1].

Cboe reports five segments and also groups revenue by type into derivatives markets, cash and spot markets, and Data Vantage[1]. The Options segment includes four U.S. options exchanges that trade both exclusive index options and multi-listed single-stock and ETF options; North American Equities includes four U.S. equities exchanges, the BIDS block-trading platform and Cboe Canada, which is being sold; Europe and Asia Pacific includes the Cboe Europe equities exchanges, the pan-European clearinghouse Cboe Clear Europe and Cboe Australia, which is also being sold; Futures centers on VIX futures on CFE; and Global FX runs the Cboe FX platform[1]. Data Vantage, formerly Data and Access Solutions, is the combined access and capacity fees and proprietary market data fees across the segments[3].

Cboe's revenue is heavily concentrated in options. In 2025, total revenues were $4.7142 billion, and after $2.2851 billion in cost of revenues, net revenue was $2.4291 billion; the Options segment produced $1.5311 billion of net revenue and $1.1133 billion of operating income, about 63% and 76% of the company totals, and about 74% of net revenue came from transaction and clearing businesses[1]. Based on management's breakdown on the second-quarter call, options were about 56.4% of quarterly net revenue, North American Equities about 13%, Europe and Asia Pacific about 11%, Global FX about 5% and Futures about 3%, while Data Vantage, measured by revenue type, was about 24%[4].

Cboe is shrinking non-core businesses to focus on U.S. options and equities. After a comprehensive strategic review in 2025, it began winding down its Japanese equities business[1], and its 2026 guidance already reflects exiting U.S. and European corporate listings, the European derivatives exchange CEDX and the Japanese equities business[3]. On April 22, 2026, Cboe agreed to sell Cboe Australia and Cboe Canada to TMX for about $300 million, with each sale closing separately after regulatory approval[6]; together with the realignment announced in May, the company expects to reduce its workforce by about 20%[7]. In clearing, Cboe owns Cboe Clear Europe, is seeking temporary SEC registration for Cboe Clear U.S., and continues to rely on OCC to clear traditional equity options[4].

Financial History and Current Position

Cboe was already highly profitable in fiscal 2025. According to the annual report, 2025 net revenue was $2.4291 billion, operating income was $1.4671 billion, income before taxes was $1.5666 billion and the income tax provision was $466.6 million, implying net income of about $1.10 billion; adjusted EBITDA was $1.6455 billion[1]. GAAP operating expenses were $962.0 million, slightly below $974.0 million in 2024, mainly because asset impairments fell to $46.7 million from $81.0 million[1].

Cash flow and the balance sheet were equally comfortable in 2025. Operating cash flow was $1.7526 billion, up from $1.1006 billion in 2024, while capital expenditures were only $71.0 million; the company paid $284.3 million in dividends and repurchased $66.7 million of stock[1]. Year-end cash and cash equivalents were $2.2165 billion and total debt was $1.4429 billion[1], so debt was below that year's adjusted EBITDA.

Growth in the first half of 2026 ran well ahead of full-year 2025. First-quarter net revenue was $728.9 million, up 29%, with GAAP diluted EPS of $3.66 and adjusted diluted EPS of $3.70, both records[7]; second-quarter net revenue was $731.6 million, up 25%, and adjusted operating expenses were $216.7 million, only $3.4 million more than a year earlier[3]. First-half net revenue totaled $1.4605 billion, up 27%, adjusted operating expenses were $417.6 million, and the adjusted operating margin rose to 71.4% from 64.8%[3].

Reported first-half operating cash flow should not be read as operating earnings. Operating cash flow was $1.4568 billion, $718.0 million more than net income, mainly because of a $943.2 million change in Cboe Clear Europe margin deposits, default and interoperability funds and customer bank deposits, plus a $155.3 million change in Section 31 fees payable[8]. At the end of June, including its $400 million revolving credit facility, Cboe had about $2.7 billion available to fund operations, and the $650 million of 3.650% senior notes due January 2027 are its nearest maturity[8]; management said it plans to repay them with cash on hand[4].

Operating Model

Cboe's net revenue is transaction fees minus rebates, plus subscription-like revenue. Transaction and clearing fees, less liquidity payments to market makers, routing and clearing costs and index royalty fees, plus access and capacity fees, market data fees and other revenue, equal the company's net revenue; Section 31 regulatory fees it collects are directly offset by a matching cost[1]. Options net transaction fees are roughly average daily volume times revenue per contract (RPC) times trading days, and in the second quarter index options RPC was $0.953 versus just $0.064 for multi-listed options[3], so a higher index share lifts total RPC by itself.

Equities, FX and Data Vantage are priced differently. U.S. equities exchanges earn net capture per 100 touched shares times shares traded, and on-exchange net capture was $0.019 in the second quarter; the FX platform earns net capture per $1 million traded, which was $2.96 in the second quarter on average daily notional value of $60.6 billion[3]. Data Vantage charges for ports and data subscriptions, which track trading activity but move more smoothly than transaction fees, and management said about two-thirds of its second-quarter growth came from access demand driven by higher options volume[4].

Cost of revenues moves with volume while operating expenses are largely fixed, so incremental volume turns almost directly into profit. Second-quarter liquidity payments were $453.7 million and royalty fees and other cost of revenues were $82.8 million[3], with the latter rising because of higher index product volume[8]. After those costs, operating expenses are mainly people, technology and professional services: first-half net revenue rose $308.0 million year over year while adjusted operating expenses rose only about $11.9 million, lifting the adjusted operating margin by 6.6 percentage points[3]. Volume changes show up in net revenue in the same quarter, while expenses move in steps with restructuring and investment, and that mismatch drives swings in margin.

Cash generation comes mainly from operating earnings and capital spending is small, but reported operating cash flow is heavily distorted by pass-through funds. Cboe raised 2026 capital expenditure guidance from $73 million to $83 million to $98 million to $108 million, mainly for clearing infrastructure and accelerated hardware purchases[3][4]. Because margin deposits and Section 31 balances can swing reported operating cash flow sharply[8], net income plus depreciation minus capital spending is a better gauge of cash generation; that cash goes mainly to dividends, buybacks, repaying the January 2027 notes and building clearing capability.

Industry and Competitive Position

Cboe leads the U.S. options market by share but faces intense competition in equities and multi-listed options. In the second quarter of 2026, its options exchanges had a combined market share of 30.0%, including 23.5% in multi-listed options; its U.S. on-exchange equities share was 9.4%, BIDS off-exchange block share was 18.8%, and Cboe Europe's European equities share was 24.4%[3].

Exclusive index options are Cboe's main competitive advantage. SPX options traded a record 970.6 million contracts in 2025, or 3.9 million a day, up 25% and a fourth straight record year[5]. Multi-listed options are a different market: at the end of 2025, Cboe's four options exchanges competed with 14 other U.S. options exchanges, the company anticipated two more opening in the first half of 2026, and rivals use fees and rebates to win order flow, which has historically pushed down multi-listed RPC[1]. The U.S. equities business also competes with 13 other exchanges and more than 25 ATSs and single-dealer platforms[1].

Substitute products and data limits define the boundary of this comparison. On June 23, Cboe launched its prediction-markets suite, Cboe Predicts, starting with binary options on the Mini-S&P 500 Index[8], and in July it filed with the SEC to list company-specific KPI event contracts on 23 large U.S. companies, still pending approval[4]; at the same time, futures exchanges, prediction markets, perpetual futures and multi-listed products such as SPY options could all draw demand away from SPX. Official quarterly reports disclose volume and RPC only at the segment level and do not separate SPX, VIX, zero-day options or retail share, and the last two come only from call commentary, so any view of competitive position stays at the segment level.

Core Debates

After two quarters of roughly 30% growth in index options volume, can the options business hold its net revenue in the third quarter?

This question matters because the options segment sets Cboe's profit base. In 2025 the segment produced about 63% of net revenue and 76% of segment operating income[1]; in the first half of 2026, options net revenue was $941.5 million, up $224.3 million, with the gain coming mainly from index options volume[7][3]. Because operating expenses are largely fixed, that increase went straight into margin, so whether options net revenue holds in the third quarter will directly decide whether the margin stays near 70%.

The evidence shows both structural and cyclical elements in the volume surge. First-quarter index options ADV was 6.136 million contracts, up 29%, and multi-listed RPC rose 21%[7]; second-quarter index options ADV was 6.208 million, up 32%[3]. On the call, management said second-quarter SPX ADV rose 40%, zero-day SPX set a quarterly record, zero-day SPX ADV rose 11% month over month in June after the Pattern Day Trader rule was repealed, and the retail share of that volume rose to 57% from 53% in April and May[4]. The alternative reading is that first-half volume depended on high volatility and a concentrated retail influx, and because retail trading is sensitive to market conditions, volume could fall before institutional hedging demand does once volatility fades.

The volume, price and transmission baselines are clear. Options segment net revenue was $473.9 million in the second quarter, up 30%, and $467.6 million in the first quarter, up 33%; index options RPC was $0.953 in the second quarter, $0.940 in the first quarter and $0.926 in the third quarter of 2025, when index options ADV was 4.864 million[7][3]. The transmission runs from SPX, XSP and VIX options ADV times index RPC and trading days to index options net transaction fees, minus index royalties that rise with volume, plus multi-listed options net fees and options market data and access fees, which together form options segment net revenue and flow almost in the same quarter into segment operating income.

What remains unresolved is how much of this volume survives once volatility fades. In the third quarter, watch whether options segment net revenue is at least the second quarter's $473.9 million, whether index options ADV stays above 6 million contracts with year-over-year growth above 20% and RPC of at least $0.94, and how management describes zero-day options, retail share, Cboe Predicts and the KPI event contracts[4]. A sequential drop of more than 10% in index options ADV would show the first-half surge was partly cyclical, and if mini contracts and the retail mix push index RPC back below $0.92, volume growth would not fully convert into revenue. The new license agreement signed in September extends SPX exclusivity to 2051, but royalty terms reset from 2027[5], which will change how much net revenue the same volume produces after the third quarter.

A year after repricing its U.S. equities exchanges, can Cboe hold the higher capture without losing more share?

Most U.S. equities exchange revenue is paid back to market makers as rebates, so net revenue depends on the trade-off between price and share. After Cboe changed pricing at its U.S. equities exchanges from late in the second quarter through the third quarter of 2025, North American Equities net revenue rose $32.9 million and operating income rose $40.9 million in the first half of 2026, the largest profit gain outside options[8]. From the third quarter, the higher pricing is fully in the year-ago base, so growth will depend mainly on share and industry volume.

The repricing has shown up in margin, while its cost has shown up in share. Second-quarter on-exchange net capture per 100 touched shares rose 50%, segment net revenue was $114.7 million, up 17%, and segment adjusted operating EBITDA margin rose to 69.8% from 59.9%[8]; but on-exchange share fell to 9.4% from 10.5%, BIDS off-exchange share rose to 18.8%, and off-exchange net capture fell to $0.058 from $0.082[3]. Industry volume averaged 20.2 billion shares a day versus 18.4 billion a year earlier[3], which masked the share loss. The alternative reading is that the share decline was a one-time redistribution of customer flow after the fee change and will stabilize.

The baseline for this debate is three sets of numbers: price, share and segment revenue. On-exchange net capture was $0.019 per 100 touched shares in the second quarter, versus $0.012 a year earlier, $0.017 in the first quarter and $0.015 in the third quarter of 2025; on-exchange share was 9.4% in the second quarter and 9.8% in both the first quarter and the third quarter of 2025; and North American Equities net revenue was $114.7 million in the second quarter and $111.2 million in the first quarter, up 18%[7][3]. The transmission runs from industry shares traded times Cboe's on-exchange share and net capture to U.S. on-exchange net transaction fees, plus BIDS block fees, Cboe Canada transaction fees and access and data fees, which form segment net revenue; second-quarter segment operating income was $66.1 million[8].

What remains unresolved is whether repricing is a net gain or will push Cboe back into rebate competition. In the third quarter, watch whether on-exchange net capture stays above $0.018 per 100 touched shares, whether share holds above 9.4%, and whether North American Equities net revenue is at least the second quarter's $114.7 million; the timing of the Cboe Canada closing will also change the segment's reported scope[4]. If share slides below 9%, Cboe may have to raise rebates again, and if industry volume falls, the share loss would be amplified rather than masked.

Can Data Vantage keep growing at a double-digit pace after the Australian business is sold?

Data Vantage is the part of Cboe's revenue least tied to daily volume, and its durability sets the revenue floor when trading slows. The business is about a quarter of net revenue, billed monthly, with very low cost of revenues[4][7]. Cboe raised its organic growth guidance twice this year: in May from "mid to high single-digit" to "low double-digit"[7], and in July to "low teens"[3].

The evidence shows that a meaningful part of Data Vantage growth depends on options activity. First-quarter Data Vantage net revenue rose 19%, with access and capacity fees of $113.2 million, up 16%, and Data Vantage market data fees of $67.1 million, up 24%[7]; management said at the time that 85% of growth came from new unit sales[9]. Second-quarter net revenue was $177.8 million, up 15%[8]; one account on the call said about two-thirds of growth came from options-driven access demand and one-third from data sales, with half of new data sales from international clients, while another said 84% came from new subscriptions and unit sales[4]. Both breakdowns imply that if options volume falls, access fees would slow with it, making Data Vantage less stable than its subscription format suggests.

The baseline rests on quarterly net revenue and two first-quarter line items. Data Vantage net revenue was $177.8 million in both the first and second quarters, or $355.6 million for the first half, up 17%[7][8]; second-quarter access and data fees are not broken out in the available material. Removing Australia will also weigh on reported growth: management said Cboe Australia contributed about $17 million of Data Vantage net revenue through July, and including the sale, full-year Data Vantage growth should be in the "low double-digit" range[4]. The transmission runs from options and equities activity driving members to buy more logical and physical ports, and from new domestic and international data subscriptions and pricing changes lifting proprietary market data fees, which together form Data Vantage net revenue and are allocated into the Options, North American Equities, Europe and Asia Pacific and other segments.

What remains unresolved is whether access demand keeps growing when the options surge slows. In the third quarter, watch whether Data Vantage net revenue is at least $175 million, whether Cboe reaffirms "low teens" organic guidance and separates access growth from data sales growth, and whether Cboe Australia closes in the third quarter as the company expected[8]. If access fee growth slows as options volume falls, or if exchange data and port fees meet regulatory or customer pushback, the business would do less to support the revenue floor.

While cutting staff and investing more at the same time, can Cboe keep expenses within its full-year guidance?

Cboe's operating expenses are largely fixed, so expense pacing decides how much volume growth stays in profit. In May, Cboe cut full-year adjusted operating expense guidance from $864 million to $879 million to $838 million to $853 million, including $20 million to $25 million of in-year savings from the realignment[7]; at the same time, CEO Craig Donohue said the company is investing in event contracts, Cboe Clear U.S. and around-the-clock trading[3]. The third quarter is the first full quarter to show both restructuring savings and new investment.

First-half expense growth was low, but some of the drivers may not repeat. First-quarter adjusted operating expenses were $200.9 million, up about 4.4%; second-quarter expenses were $216.7 million, up 1.6%, with the increase coming mainly from performance bonuses and travel and promotional expenses, partly offset by lower professional fees[3]. On a GAAP basis, second-quarter compensation and benefits were $154.7 million, including a $19.2 million year-over-year increase in severance and a $4.0 million increase in accrued bonuses[8]; capital expenditure guidance has also risen from $73 million to $83 million to $98 million to $108 million[3]. The alternative reading is that low first-half expense growth partly reflected one-off items such as lower professional fees, and if bonuses keep rising with results and new-business spending accelerates in the third quarter, expenses could exceed the roughly $218 million per quarter implied by the top of the guidance range.

The baseline for this debate is quarterly expense and margin. Adjusted operating expenses were $216.7 million in the second quarter and $200.9 million in the first quarter, or $417.6 million for the first half; the adjusted operating margin was 70.4% in the second quarter versus 63.7% a year earlier and about 72.4% in the first quarter[3]. The transmission runs from realignment savings of $40 million to $50 million annualized and $20 million to $25 million in 2026[6], plus an $11 million full-year expense reduction from selling Cboe Australia[3], against higher spending on bonuses, promotion, clearing and event contracts; the net is adjusted operating expense, and adjusted operating income equals net revenue minus adjusted operating expense, which was $514.9 million in the second quarter[3].

What remains unresolved is how quickly new investment will absorb restructuring savings. In the third quarter, watch whether adjusted operating expenses stay at or below about $218 million, whether the $838 million to $853 million full-year guidance holds, and whether cumulative restructuring charges stay within the company's estimated pre-tax range of $36 million to $46 million[6]. If bonuses and new-business spending push expenses above guidance, or if restructuring savings fall short of the $20 million in-year target, margin expansion would reverse before revenue does.

Risks and Falsifiers

The first risk is that a debt maturity squeezes capital allocation. Cboe plans to repay the $650 million of 3.650% notes due January 2027 with cash on hand, and the Cboe Clear Europe credit facility is expected to terminate within a year and may not be replaced on commercially reasonable terms[8]. Using cash to repay debt reduces funds for buybacks and acquisitions and lowers interest income, and third-quarter net interest income guidance is only $8 million to $9 million[4]. If Cboe keeps its dividend and buyback pace after repayment and leverage stays below 1x, this risk does not materialize.

The second risk is that the Cboe Canada sale still awaits regulatory approval and has no closing date. The divestiture and post-closing transition services could prolong costs and divide management attention[8]; until closing, Cboe Canada revenue and expenses remain in North American Equities, so a delay would keep organic and reported figures apart[4]. If Cboe completes the Cboe Canada sale in 2026 and discloses the impact on each segment, this risk largely falls away.

The third risk comes from the royalty reset and termination terms in the new S&P DJI license. From January 1, 2027, royalties will be calculated on a new per-contract basis with redacted rates, and either party may terminate the order if Cboe's SPX options ADV falls below an agreed threshold in each of four consecutive quarters[5]. Royalties sit in cost of revenues and directly reduce options segment net revenue, and royalty fees and other cost of revenues already reached $82.8 million in the second quarter of 2026[3]; Cboe said the 2027 terms will have a de minimis impact on 2027 net revenue growth[5]. If 2027 guidance shows higher royalties offset by volume growth and pricing, with options segment net revenue still growing, this risk is falsified.

The fourth risk is regulatory attention on zero-day options and retail trading, along with substitution from prediction markets, perpetual futures and products such as SPY options. Most of Cboe's net revenue depends on SPX options and VIX products[1], so if zero-day products are restricted or retail traders move elsewhere, index options ADV and options segment net revenue would fall together. If third-quarter index options ADV keeps growing more than 20% year over year and retail share holds, this risk has not materialized in the period.

The fifth risk comes from U.S. equity market structure reform and fee competition among exchanges. Market structure changes such as the SEC's proposed rescission of Rule 611 create uncertainty for equity and options trading[4], and the annual report says that if Cboe cannot price competitively, it could lose substantial trading share[1]. Net capture and on-exchange share directly set North American Equities net transaction fees; if both hold steady in the third quarter and segment net revenue is at least the second quarter's level, this risk has not shown up in results.

The sixth risk is that Data Vantage competes with other exchanges, third-party data vendors and ATSs, and its access and data fees are within the scope of regulatory review[1]. Access and data revenue carries very low cost of revenues, with Data Vantage cost of revenues of just $3.5 million in the first quarter[7], so any price pressure would cut operating income almost dollar for dollar. If access fees and market data fees keep growing at double digits in the third quarter, this risk has not materialized.

What to Watch Next

• Index options and options net revenue: options segment net revenue against the second quarter's $473.9 million, index options ADV against 6.208 million contracts and RPC against $0.953. Holding above 6 million contracts supports the structural reading; a sequential ADV drop of more than 10% or RPC below $0.92 points to a cyclical surge.
• U.S. equities price and share: on-exchange net capture against $0.019, on-exchange share against 9.4% and segment net revenue against $114.7 million. Capture above $0.018 with share at or above 9.4% confirms the repricing; share below 9% with higher rebates would weaken it.
• Data Vantage after the Australia sale: net revenue against $177.8 million and "low teens" organic guidance, plus the Cboe Australia closing. Net revenue of at least $175 million with separate access and data growth supports durability; access fees slowing with options volume would show dependence on trading activity.
• Expenses versus guidance: adjusted operating expenses against $216.7 million and the $838 million to $853 million full-year range. Spending at or below about $218 million with guidance intact supports the margin; spending above guidance or in-year savings below $20 million would mean margin expansion reverses first.

Conclusion

Cboe's results run on three lines: volume and pricing in exclusive index options, price and share at its U.S. equities exchanges, and Data Vantage subscription revenue that depends partly on trading activity, while largely fixed operating expenses turn those revenue gains almost directly into profit. First-half 2026 net revenue rose 27% and the adjusted operating margin reached 71.4%[3]; Cboe has about $2.7 billion available and plans to repay the $650 million of notes due January 2027 with cash[8]. The most important and still unresolved relationship is how much of the gain from the index options surge and U.S. equities repricing remains once volatility fades and the pricing laps its year-ago base.

Since the second-quarter results on July 31, 2026, the commentary found was mostly auto-generated summaries or event recaps, and no outside assessment with a verifiable author and original text offered an independent judgment on these core debates, so no outside view can be cited. That means the company's explanations cannot yet be checked against independent outside interpretations, and readers must rely on the company's disclosed volume, pricing and expense data to judge the four debates.

The current reading that first-half growth is mainly structural and that the margin can hold would strengthen materially if third-quarter index options ADV stays above 6 million contracts, options segment net revenue is at least $473.9 million, U.S. on-exchange share holds near 9.4% without lower net capture, Data Vantage keeps double-digit growth excluding Australia, and adjusted operating expenses stay at or below about $218 million. It would weaken if index options ADV falls more than 10% sequentially, RPC drops back below $0.92, on-exchange share falls below 9%, access fees slow with options volume, or expenses exceed full-year guidance, in which case the first-half margin would look more like a product of a high-volatility period.

Sources

[1] CBOE FY2025 10-K filed 2026-02-20 · 2026-02-20 · 10-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001374310&type=&dateb=&owner=include&count=40

[2] Drillr earning_call_calendar CBOE updated 2026-10-26 · 2026-10-26 · Drillr earning_call_calendar · https://gateway.drillr.ai/mcp/private

[3] CBOE Q2 2026 8-K filed 2026-07-31 · 2026-07-31 · 8-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001374310&type=&dateb=&owner=include&count=40

[4] CBOE Q2 2026 earnings call 2026-07-31 · 2026-07-31 · earnings-call · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001374310&type=&dateb=&owner=include&count=40

[5] CBOE 8-K filed 2026-09-29 · 2026-09-29 · 8-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001374310&type=&dateb=&owner=include&count=40

[6] CBOE Q1 2026 10-Q filed 2026-05-01 · 2026-05-01 · 10-Q · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001374310&type=&dateb=&owner=include&count=40

[7] CBOE Q1 2026 8-K filed 2026-05-01 · 2026-05-01 · 8-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001374310&type=&dateb=&owner=include&count=40

[8] CBOE Q2 2026 10-Q filed 2026-07-31 · 2026-07-31 · 10-Q · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001374310&type=&dateb=&owner=include&count=40

[9] CBOE Q1 2026 earnings call 2026-05-01 · 2026-05-01 · earnings-call · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001374310&type=&dateb=&owner=include&count=40