Equity Profile

CBOE

Cboe Global Markets, Inc.

FinancialsFinancial Exchanges & Data$34.9B

Jul31Fri

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Cboe Global Markets, Inc. operates financial exchanges and provides market data services....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well Cboe is managing costs and generating income.

N/A

Trading Volume

Higher trading volumes can lead to increased revenue from transaction fees, which is vital for Cboe's growth.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

CBOE Q2-2026 Earnings Preview

Context

Company Snapshot

Cboe Global Markets, Inc. operates financial exchanges and provides market data services. As a key player in the financial sector, it facilitates trading in various asset classes, making it essential for investors and traders looking for liquidity and price discovery.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+4.18%

Avg Stock Reaction

+2.72%

Last Quarter Recap

In Q1-2026, Cboe reported an EPS of $3.70, exceeding expectations by nearly 10%. The stock reacted positively, gaining nearly 9% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Cboe's upcoming earnings, especially given its strong track record of beating EPS estimates.

Bull Case

If Cboe continues its trend of strong earnings surprises, it could see significant stock appreciation and increased investor confidence.

Bear Case

On the other hand, if trading volumes decline or the company fails to meet expectations, it could face a negative reaction from the market.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the trading volume for Q2-2026?

Trading volume is a key driver of revenue for Cboe, and any significant changes could impact earnings.

How does Cboe plan to maintain or grow its market share?

Understanding Cboe's strategy for competitive positioning will be crucial for assessing its future growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of trading volume fluctuations on Cboe's revenue, particularly if market conditions are more favorable than anticipated.

Supporting Evidence

Cboe has consistently beaten EPS estimates, suggesting stronger underlying performance than analysts project.

Options pricing suggests a larger move than historical averages, indicating potential volatility that could favor the stock.

Recent trends in trading activity may not be fully reflected in analyst models.

Key Risk

If trading volume comes in below expected levels, it could significantly impact the revenue outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on trading volumes and market share, which are critical for Cboe's revenue generation.

Bull Confirmed If

A trading volume increase of over 15% year-over-year would confirm the bull case.

Bear Confirmed If

A trading volume decrease of more than 10% year-over-year would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±12.94%

Historical Avg

±3.3%

Pricing rich

The options market is pricing in a significant move, indicating uncertainty about the upcoming earnings report.

Options are pricing ±12.5% while CBOE has averaged ±3.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

38.6%

Calls (48K)P/C Ratio: 1.44Puts (33K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 11 of 26 (42%)

This setup has occurred 30 times across Financials in the last 2 years. 11 of 26 faded and 15 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 2.4%, with a raw directional average of -0.0% (roughly flat historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Cboe beats expectations, history suggests the stock could rise by around 2.83%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future growth.

Miss

A miss could lead to a decline of about 2.01%, as investors reassess their outlook on Cboe's growth prospects.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on trading volume trends for Q2-2026.
2Management's strategy for maintaining market share in a competitive landscape.
3Insights into cost management and operational efficiencies.
4Any commentary on regulatory changes affecting trading volumes.
5Future growth initiatives or new product offerings.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Jul28

KNSABMO

Kiniksa Pharmaceuticals International, plc

PreviewView

Jul28

CURBBMO

Company Snapshot

Cboe Global Markets, Inc. operates financial exchanges and provides market data services....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well Cboe is managing costs and generating income.

N/A

Trading Volume

Higher trading volumes can lead to increased revenue from transaction fees, which is vital for Cboe's growth.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

CBOE Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+4.18%

Avg Stock Reaction

+2.72%

Last Quarter Recap

In Q1-2026, Cboe reported an EPS of $3.70, exceeding expectations by nearly 10%. The stock reacted positively, gaining nearly 9% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Cboe's upcoming earnings, especially given its strong track record of beating EPS estimates.

Bull Case

If Cboe continues its trend of strong earnings surprises, it could see significant stock appreciation and increased investor confidence.

Bear Case

On the other hand, if trading volumes decline or the company fails to meet expectations, it could face a negative reaction from the market.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the trading volume for Q2-2026?

Trading volume is a key driver of revenue for Cboe, and any significant changes could impact earnings.

How does Cboe plan to maintain or grow its market share?

Understanding Cboe's strategy for competitive positioning will be crucial for assessing its future growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of trading volume fluctuations on Cboe's revenue, particularly if market conditions are more favorable than anticipated.

Supporting Evidence

Cboe has consistently beaten EPS estimates, suggesting stronger underlying performance than analysts project.

Options pricing suggests a larger move than historical averages, indicating potential volatility that could favor the stock.

Recent trends in trading activity may not be fully reflected in analyst models.

Key Risk

If trading volume comes in below expected levels, it could significantly impact the revenue outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on trading volumes and market share, which are critical for Cboe's revenue generation.

Bull Confirmed If

A trading volume increase of over 15% year-over-year would confirm the bull case.

Bear Confirmed If

A trading volume decrease of more than 10% year-over-year would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±12.94%

Historical Avg

±3.3%

Pricing rich

The options market is pricing in a significant move, indicating uncertainty about the upcoming earnings report.

Options are pricing ±12.5% while CBOE has averaged ±3.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

38.6%

Calls (48K)P/C Ratio: 1.44Puts (33K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 11 of 26 (42%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Cboe beats expectations, history suggests the stock could rise by around 2.83%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future growth.

Miss

A miss could lead to a decline of about 2.01%, as investors reassess their outlook on Cboe's growth prospects.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on trading volume trends for Q2-2026.
2Management's strategy for maintaining market share in a competitive landscape.
3Insights into cost management and operational efficiencies.
4Any commentary on regulatory changes affecting trading volumes.
5Future growth initiatives or new product offerings.