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S&P 500 Equal Weight Index Options
S&P 500 Equal Weight Index options provide exposure to all S&P 500 companies equally weighted at 0.2%. Based on 1/10th the value of the S&P 500 Equal Weight Index, these cash-settled, AM (SPEQX) and PM (SPEQW) settled, European-style options maintain the same trading mechanics and tax benefits as SPX options while offering unique trading opportunities and risk profiles.
Volume
Open Interest
| Feature | SPEQX Options | SPX Options |
|---|---|---|
| Index Methodology | Equal-weighted (0.2% per constituent) | Market cap-weighted |
| Sector Exposure | Balanced across sectors | Tech/Communications heavy |
| Volatility Profile | Historically provides lower volatility | Higher volatility driven by large caps |
| Contract Size | Smaller sized contract 1/10 value of S&P 500 Equal Weight Index | Full sized contract |
Asset Managers
Hedge Funds
ETF Issuers
RIAs and Wealth Managers
AM-settled standard monthly SPEQX options expire on the third Friday of each month, with FLEX options also available for customized strike prices and expiration dates. PM-settled SPEQW options may include quarterly, end of month, weekly Friday and daily expirations.
SPEQX options trade during regular trading hours (RTH) from 9:30 a.m. ET to 4:15 p.m. ET on business days preceding the expiration date. SPEQW options trade during regular trading hours (RTH) from 9:30 a.m. ET to 4:15 p.m. ET on business days other than the expiration date. SPEQW option trade until 4:00 p.m. ET on the expiration date.
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Listed options serve multiple purposes in today’s financial markets, from basic hedging and income overlays to quantitative investing strategies and even as the foundation for an entire ecosystem of structured products and defined-outcome exchange traded funds (ETFs). Another crucial benefit comes from the insight the options markets provide into forward-looking expectations and sentiment, aiding decision-making for traders and non-traders alike.
There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: Disclosures and Disclaimers Related to Cboe Options and Futures Products. These products are complex and are suitable only for sophisticated market participants. In certain jurisdictions, Cboe Company products are only permitted for investment professionals, certified sophisticated investors, or high net worth corporations and associations. These products involve the risk of loss, which can be substantial and, depending on the type of product, can exceed the amount of money deposited in establishing the position. Market participants should put at risk only funds that they can afford to lose without affecting their lifestyle.