Cboe Global Markets (CBOE) Protective Put Calculator
Calculator · free · no signup · CBOEPrice a protective put, zero-cost collar, or put spread on Cboe Global Markets. Annual cost, max loss, upside cap, tax treatment, auto-filled from current CBOE option chain.
AlphaLatitude Inc. · Free ToolsOur tools respect your browsing privacy. Independently verified:
You priced one hedge. The beta picks the right hedge structure given your full equity stack and tax situation.
Request beta access →Related calculators: Stock Concentration Calculator
About Cboe Global Markets
Cboe Global Markets (CBOE) is a public Fintech company, incorporated in Delaware and headquartered in Chicago, IL.
Last close: $271.26 per share (as of 2026-10-03).
Equity grants at Cboe Global Markets typically include restricted stock units (RSUs).
Cboe Global Markets, Inc. is an American financial exchange operator. In the U.S., it owns the largest exchange for trading in options, where it has a 30% market share, and the third-largest exchange for trading in equities, where it has a 10% market share. It operates the largest stock exchange in Europe, where it has a 25% market share. It is headquartered in Chicago, where it maintains an open outcry trading floor.
Source: Wikipedia (CC BY-SA 4.0)
The Chicago Board Options Exchange opened in 1973 as the first marketplace for listed options and still owns the proprietary index products built on that history, principally options on the S&P 500 and the VIX volatility index. Exclusive licensing on those indices means the trading cannot migrate to a competing venue, which is a materially better position than the fee competition in equities. Volatility is good for volume, so revenue rises when markets are unsettled. Market data and access fees supplement transaction revenue. Headquarters are in Chicago.
Sources: sec.gov · en.wikipedia.org
Equity comp at Cboe Global Markets
- Cboe's RSU award agreements use double-trigger vesting: a change in control alone does not accelerate vesting. Acceleration only occurs if the employee is terminated without cause (or resigns for good reason) within two years after the change in control, or if the acquiring company will not provide a replacement award. Separately, RSUs also vest early on the holder's death, disability, or qualified retirement, which is a more generous provision than many peer companies offer.
- Early exercise is not allowed: you have to wait for shares to vest before you can buy them.
- RSUs use double-trigger vesting. Two things must both happen before the shares are yours: (1) the normal time-based vesting completes, and (2) the company has a liquidity event (an IPO or an acquisition). Until both happen, you do not yet own the shares and you do not owe tax on them.
Researched 2026-08-21.
OptionsAhoy is an independent tool and is not affiliated with, endorsed by, or sponsored by Cboe Global Markets.
A protective put caps your downside on the CBOE position at a chosen floor; a zero-cost collar pays for that floor by capping the upside. This calculator prices both structures off the current CBOE option chain, with annual cost, max loss, and tax-treatment notes.
Example: a 5,000-share CBOE position at $271.26 is worth $1,356,300. A 1-year 30%-OTM put on that position typically runs 2-4% of position value per year (about $27,126 to $54,252) before any premium offset from a short call. The calculator prices both structures off CBOE's current option chain so you see the actual cost for your chosen floor, tenor, and cap.
All Cboe Global Markets tools → · Use the generic Protect Your Stock Calculator for any company.
Cboe Global Markets equity questions
- How much does it cost to hedge CBOE stock?
- The cost of a protective put depends on how far below the current price you set the floor, how long the protection lasts, and CBOE's option-implied volatility. A zero-cost collar lowers that cost by selling away some upside. The calculator above prices both structures off the current CBOE option chain and shows the annual cost, maximum loss, and tax treatment.
- Does Cboe Global Markets grant ISOs, NSOs, or RSUs?
- Equity compensation at Cboe Global Markets typically takes the form of restricted stock units (RSUs). Restricted stock units are taxed as ordinary income when they vest.
- Does Cboe Global Markets allow early exercise of stock options?
- No. Cboe Global Markets requires options to vest before you can exercise them, so the holding-period clock for long-term capital-gains treatment starts as each tranche vests and you exercise it.
- Do Cboe Global Markets RSUs use double-trigger vesting?
- Yes. Cboe Global Markets restricted stock units (RSUs) vest only when two things both happen: the time-based schedule completes, and the company has a liquidity event such as an initial public offering (IPO) or an acquisition. Until both occur you do not own the shares and owe no tax on them.
Find another companyFintech peers
One piece of the puzzle.
OptionsAhoy plans your Cboe Global Markets equity alongside hedging, vesting, and de-concentration, across bullish, neutral, and bearish market scenarios. Free during beta.