Why is CBOE up?
Up 3.4% today, more than its exchanges & trading peers' 1.4%; no story names it yet.
Rose 16% since Oct 29
Up 16% from Oct 29 to Nov 10.
- Its Oct 30 results:
CBOE's Quality Score rose 1 point on Tue, Nov 10, to 19. It closed near its high of the day.
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Up 3.4% today, more than its exchanges & trading peers' 1.4%; no story names it yet.
Rose 16% since Oct 29
Up 16% from Oct 29 to Nov 10.
| Free cash flow tripled | $591.3M → $1.68B in 3 years |
| Latest filing | 8-K, Oct 30 |
TodayNo story names it yet.
After its last 4 reports it closed +4.9% on average, higher 3 of 4 times.
Excellentfor quality, not price, 8 of 14 chart checks firingWhat the Quality Score means
Well above its recent run. CBOE scores 19 today, against a median of 15 over its last 20 recorded sessions.
CBOE is #1 of 9 by Quality Score.
| Rank | Stock | Quality Score |
|---|---|---|
| 1 | ||
| 2 | ||
| 3 | ||
| Open for its score | ||
| Open for its score | ||
| Open for its score |
Net income over four quarters: CBOE $1.48B, ICE $4.16B, NDAQ $2.08B.
Expected to report Fri Feb 5, before the open (in 87 days).
What an earnings report is: every 3 months, a company tells everyone how much it sold and earned. We read the figures, the outlook, and how the stock moved after.
Revenue of $1.4B, 19% more than a year ago; a profit of $4.08 a share, from $2.85.
“The lower effective tax rate in 2026 is primarily due to the non-taxable gain on divestiture related to the sale of Cboe Australia.”
| Line | Q3 2026 | Q2 2026 | Q3 2025 |
|---|---|---|---|
| Derivatives markets | $665M | $681M | $565M |
Each quarter's sales and their share of its total. Figures as filed (SEC filing, Oct 30)
| Measure | Figure |
|---|---|
| Organic total net revenue growth | 'high teens' |
Sales grew 6.6% a year over 5 years, fiscal 2020 to 2025.
Pays $3.44 a share a year.
| Reported | Gap | Reaction | 5 days |
|---|---|---|---|
| Oct 30, 2026 | +2.8% | +6.8% | +12.3% |
| Jul 31, 2026 | -3.0% | +4.6% | -2.5% |
| May 1, 2026 | +4.8% | +8.9% | +12.8% |
Sales grew in five of the last seven years, to $4.7B in 2025. It made a profit in each of the seven years.
RSI 71.7, MACD above signal, above both averages. Not scored.
3 trades disclosed in the last six months. The newest:
Officers and directors with a Form 4 in the last 12 months.
In ETFs: CBOE is 0.2% of SPMO, 0.2% of VIG, and under 0.1% of VOO, the most of the 24 funds Breakaway covers, by each fund's latest filing, Jun 30 to Aug 31, 2026.
Founded in 1973, Cboe controls the largest option exchange in the US, which provides around 60% of the firm's revenue. The company is best known for its proprietary S&P 500 and VIX index options, which it offers through an exclusive contract with S&P Global. The firm moved into US and European equities through the $3.4 billion acquisition of BATS in 2017. Cboe has continued to look to expand internationally, using acquisitions to build a presence in both Canada and Australia.
“The industry in which we operate is intensely competitive.”
CBOE scores 19 today, which Breakaway calls Excellent. It is #1 of 9 in Security & Commodity Brokers, Dealers, Exchanges & Services by Quality Score, with 8 of 14 chart checks firing. Up 16% from Oct 29 to Nov 10. Breakaway does not say whether to buy any stock: the score does not know your situation, and it is not a recommendation to buy or sell anything. Please do your own research.
CBOE scores 19 today, which Breakaway calls Excellent (15 to 19). That is #1 of 9 in Security & Commodity Brokers, Dealers, Exchanges & Services by Quality Score. The score adds up the chart checks, the trend, the company's filed sales, its profits, the news, insider trades, and Congress trades. The section above lists the lines behind CBOE's 19.
Expected to report Fri Feb 5, before the open, a date Breakaway expects from the company's usual timing; the company has not confirmed it. CBOE closed higher after 3 of its last 4 reports. Past behavior, not a forecast.
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Insider and Congress trades, the chart, and the financials, in one score.
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