Cboe Stock Nears Buy Point As 2024 Election Promises Volatility

Cboe Global Markets

Cboe Global Markets

CBOE


$2.59



1.24%



8%

IBD Stock Analysis

  • Flat base as 216.14 entry, but stock is within 1% of early entry at 213.05

Composite Rating

Industry Group Ranking

Emerging Pattern

Flat Base

* Not real-time data. All data shown was captured at
3:13PM EDT on
10/21/2024.

Cboe Global Markets (CBOE) is Monday’s IBD Stock Of The Day as the trading exchange operator stands to benefit from increased volatility ahead of the 2024 election. Cboe stock, which is rallying off key support, is within just 1% of an early entry.

With Q3 reporting dates approaching for exchanges, analysts have leaned into their bullish commentary, saying results should benefit from strong trading activity induced by higher equity market volatility. Further, Piper Sandler said the group should continue benefiting from persistent volatility around the 2024 election. Piper Sandler hiked its Cboe price target to 220 from 210 on Oct. 8, and kept its outperform rating.





X



NOW PLAYING
Why Minervini Calls Volatility A Rare Moment For This Market



Active Trading In Q3

Cboe posted record average daily volume of 4.23 million contracts in Q3 for its proprietary index options, the firm said on Oct. 3. That includes the second-best daily volume of 980,000 contracts for its Cboe Volatility Index (0VIX) options, which are used to hedge S&P 500 risk.

Cboe posts Q3 results on Nov. 1. CME Group (CME) reports on Wednesday, Nasdaq (NDAQ) on Thursday, and Intercontinental Exchange (ICE) on Oct. 31.

Cboe’s SPX index options are the mostly actively traded index options in the U.S., providing exposure to the large-cap index as well as options for managing risk.

Oppenheimer raised its Cboe price target to 227 from 209 on Oct. 14, keeping an outperform rating. The firm highlighted its new focus of putting buybacks ahead of acquisitions, while stabilizing margins and reaching for growth among overseas investors.

Volatility Fuels Cboe, Exchange Stocks

Volatility soared at the start of August when the jobs report for July came in unexpectedly soft, stoking recession fears. That coincided with an Aug. 2 breakout for Cboe stock from a cup-with-handle base.

More solid jobs data since then has calmed markets, but several factors could conspire to shake things up. Any further hints that inflation is sticking around could jolt markets and the Federal Reserve’s rate-cut outlook. More direct military exchanges between Israel and Iran remain a risk. Plus, the VIX index rose sharply in the period just before Election Day in 2016 and 2024, and a repeat wouldn’t be a surprise.

Strategists at Morgan Stanley Wealth Management wrote last week that the 2024 election “may be particularly volatile, given the potential for delayed election results as well as macroeconomic and geopolitical concerns.”

“Given tight polling margins in swing states, our base case is that an election delay could last days or even weeks,” they wrote.

The 2020 election saw the VIX spike 40%.

Cboe Stock Action

Cboe stock rose 1.3% to 211.99 on Monday, following a Friday test of its 50-day moving average. A move past last week’s high of 213.05 would offer an early entry opportunity.

Shares have a traditional 216.14 buy point from an eight-week flat base. The latest base is just above a prior consolidation, forging a bullish base-on-base pattern that is clear in a weekly MarketSurge chart.

Be sure to read IBD’s The Big Picture column after each trading day to get the latest on the prevailing stock market trend and what it means for your trading decisions.

YOU MIGHT ALSO LIKE:

These Are The Best 5 Stocks To Buy And Watch Now

Join IBD Live Each Morning For Stock Tips Before The Open

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

Source link

Visited 1 times, 1 visit(s) today

Related Article

Iran Attacks: How Oil, Stock Markets Could React to New Middle East War

Investors are bracing for the weekend attacks on Iran to ripple through markets. Front and center is the oil market, and the looming threat to energy flows. The Strait of Hormuz is among the world’s most important global shipping lanes, with 13 million barrels of crude oil per day flowing through the waterway in 2025,

What we know as markets brace for turmoil

JERUSALEM – FEBRUARY 28: People take shelter as Iran launched missiles and drones towards Israel following the US-Israeli attacks, in Jerusalem on February 28, 2026. Mostafa Alkharouf | Anadolu | Getty Images The U.S. and Israel launched their most aggressive attack ever on Iranian targets over the weekend that killed the Islamic state’s longtime supreme

Forget Tariffs! If a Stock Market Crash Occurs Under President Donald Trump, It’ll Likely Be Caused by These 3 Catalysts.

Although stock market volatility has been a common theme under President Donald Trump, Wall Street’s major indexes have thrived during his time in the Oval Office. In his first, non-consecutive term, the ageless Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and innovation-inspired Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 57%, 70%, and 142%,

3 Investing Moves I’m Making Right Now to Prepare for a Recession

If you’re concerned about economic volatility, you’re in good company. In fact, 72% of Americans rate current economic conditions as “fair” or “poor,” according to a February 2026 survey from the Pew Research Center, while nearly 40% expect the economy to worsen over the next year. While the future of the economy may be largely

Best 3 Blue-Chip Stocks to Buy After This Week’s Market Pullback

February was a wild month for the stock market as pressure built on software stocks over fears of AI disruption, and stocks fell in the last week of the month as President Trump said he would raise global tariffs to 15% after the Supreme Court struck down his earlier round of tariffs. Market pullbacks can

The Best Trillion-Dollar Stock to Buy Right Now, According to Wall Street

Over the last few years, just a handful of companies have come to dominate the market. Eleven stocks now trade on U.S. exchanges with market caps exceeding $1 trillion, as of this writing. Analysts expect the trend of the big getting bigger to continue in 2026, with price targets for most of the members of

Is a Stock Market Crash Coming Soon? History Has Good and Bad News for Investors.

Many investors aren’t quite sure how to feel about the market right now. According to a February 2026 survey from the American Association of Individual Investors, around 35% feel optimistic about the next six months, 37% feel pessimistic, and the remaining 28% feel neutral. So if you’re having mixed feelings about investing, you’re not alone.

Caterpillar Stock: What a $1,000 Investment 20 Years Ago Is Worth Now

As the world’s largest manufacturer of heavy construction and mining equipment, Caterpillar (CAT) has long been seen as a bellwether for the global economy. Happily for long-term shareholders, CAT’s returns have greatly outpaced the global economy – and U.S. stock market – for decades. Caterpillar’s outperformance in the 21st century was never a foregone conclusion.

New Growth Targets, $3B Buyback, and Big Push into AI, Cloud, Blockchain

Nasdaq logo Cloud, AI and blockchain push: Nasdaq says it is “fully scaled in cloud,” is migrating options markets to its Fusion platform (seven of eight live), building an intelligence layer and plans to deploy hundreds—scaling to thousands—of AI agents, while preparing 23/5 trading subject to regulatory approval. Financial targets, productivity and capital returns: Management

Iran Attack Will Launch Energy Stocks – 5 Strong Buy High-Yield Companies You Have To Own

Energy stocks have been strong over the last six months because the sector is benefiting from a powerful mix of tightening global supply, disciplined capital spending, and surprisingly resilient demand. Crude prices have remained supported as major producers, including OPEC and OPEC+, continue to manage output. So that you know, OPEC+ has discussed a modest

The Schwab U.S. Dividend Equity ETF Has Delivered a 12.9% Annualized Return. These 2 Top Holdings Showcase the Power of its Investment Strategy.

Many investors think that dividend stocks are boring investments. While they might not deliver the thrills of some growth stocks, their returns are anything but boring. Over the last 50 years, dividend stocks have outperformed non-dividend payers by more than two-to-one. The Schwab U.S. Dividend Equity ETF (NYSEMKT: SCHD) has experienced the power of dividend

Jim Cramer Discusses NVIDIA’s Stake In CoreWeave (CRWV)

We recently published 10 Stocks Jim Cramer Talked About.  CoreWeave, Inc. (NASDAQ:CRWV) is one of the stocks Jim Cramer talked about. Data center infrastructure provider CoreWeave, Inc. (NASDAQ:CRWV)’s shares are up by a strong 142% since late March last year. Year-to-date the stock is up by 22%. Investment bank Morgan Stanley discussed the firm on February

1 Oversold AI Stock to Buy Before It Rebounds

Amazon‘s (AMZN +1.04%) fourth-quarter report, released earlier this month, was strong. But shares sold off anyway as the company’s expectation for about $200 billion in capital expenditures spooked investors. Shares of the e-commerce and cloud-computing giant have slid about 13% over the past month as investors have grown more cautious about the cost of building

Meet the Monster Stock That Continues to Crush the Market

The rise of artificial intelligence (AI) has produced some big winners in the market. It has fueled even large-cap stocks to report surprisingly high growth rates. Investors who have owned Nvidia stock over the last several years have enjoyed the payoff from that growth. There’s another large-cap name, though, that has significantly outperformed Nvidia. Investors

0
Would love your thoughts, please comment.x
()
x