Duration: 2:31
Level: Beginner

Interactive Brokers clients can trade selected Cboe products during Cboe’s extended global trading hours, 8:15 pm ET to 9:15 am ET Monday through Friday.

Study Notes:

Cboe Options Exchange offers extended global trading hours for index options in S&P 500 Index (SPX), Cboe Volatility Index (VIX), and Mini SPX Index (XSP) from 8:15 pm ET to 9:15 am ET Monday through Friday.

Interactive Brokers’ clients have access to the Cboe extended trading hours and are able to trade these selective products after-hours as long as they have Future Options trading permissions.

In this video the investor will enter a VIX Index option order after the regular trading day has ended, to be placed during Cboe’s extended global hours.  The investor can enter the order directly into the Order Entry panel by typing the symbol, choosing “Options” from the drop-down chain, and picking a contract from the option chain or by clicking on a symbol displayed in a Watchlist.  In this case the investor has set up a Watchlist with several option contracts from the Cboe that are available for overnight trading. The investor can use the Interactive Brokers Smart routing feature for these orders and does not need to specify Cboe as a destination.

Once the symbol is entered the investor chooses either the buy or sell button in the lower left hand of the Order Entry Panel. Enter the quantity and for order type, they will enter a value for the limit price. In the Time in Force drop-down the investor selects “Fill outside RTH”.  A yellow triangle with an exclamation point will appear in the Time –in Force drop down. Hover over it to see available hours when the order may be filled. When ready click Submit, and an order confirmation box will appear showing that Outside Regular Trading Hours has been selected. When ready click Transmit, and the order will populate the Activity panel.

Submitting SMART routed index option orders using the Cboe’s suite of equity index and volatility products is a convenient way for clients to manage risk outside of routine trading hours. 


Overnight Trading

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