Overview
- The SEC signed off on Cboe’s rule change on October 13, 2026, allowing the exchange to list cash‑settled, European‑style binary contracts that pay $1 if a reported metric meets a preset strike.
- Contracts will settle to figures in official SEC filings such as 10‑K, 10‑Q and 8‑K reports so the payout depends on the company’s filed number rather than press releases or market moves.
- Prices will trade in penny increments with a capped $1 payout so quoted prices roughly reflect the market’s implied probability that a metric will clear its strike.
- Cboe expects an initial slate covering roughly 23 actively traded U.S. companies, including Apple and Tesla, with target metrics like revenue, EPS and operational measures.
- The planned October rollout remains conditional on the SEC granting temporary registration for Cboe Clear U.S. to clear the contracts and on finalized distributor approvals, including a pending Robinhood fee waiver through year‑end.