Cboe® Select Sectors Index Options

Cboe offers cash-settled options on the 11 industry sectors that comprise the S&P Index. These index options provide investors across the globe an easy and efficient way to incorporate U.S. sector investing strategies into their portfolios.

Historical Performance of Select Sector Indexes

Select Sector Index Options

Select Sector Index Name Option Symbol Underlying Index Symbol Settlement Symbol
Materials SIXB SIXB SISB
Communication Services SIXC SIXC SISC
Energy SIXE SIXE SISE
Financial SIXM SIXM SISM
Industrials SIXI SIXI SISIN
Consumer Staples SIXR SIXR SISR
Real Estate SIXRE SIXRE SISRE
Technology SIXT SIXT SIST
Consumer Discretionary SIXY SIXY SISY
Health Care SIXV SIXV SISV
Utilities SIXU SIXU SISUT

Quote Vendor Symbols

Vendor Materials Select Sector Index Example
Bloomberg, Factset, Morningstar, Six Group/Telekurs, Tradestation and Vela Option & Underlying Index Symbol SIXB
Settlement Symbol SISB
DTN IQ Option SIXB
Underlying Index Symbol SIXB.XO
Settlement Symbol SIXB
Interactive Data Option SIXB
Underlying Index Symbol I:SIXB
Settlement Symbol I:SISB
Pico Option & Underlying Index Symbol $SIXB
Settlement Symbol $SISB
Refinitiv/Thomson-Reuters Eikon Option & Underlying Index Symbol .SIXB
Settlement Symbol .SISB
Refinitiv/Thomson-REDI Option & Underlying Index Symbol ^SIXB
Settlement Symbol ^SISB
Refinitiv/Thomson-Reuters TDN T1/TDF Option & Underlying Index Symbol .SIXB-UT
Settlement Symbol .SISB-UT

Why Trade Cboe Select Sector Index Options

Alternative Vehicle to Gain Exposure to U.S. Industry Sectors

Alternative Vehicle to Gain Exposure to U.S. Industry Sectors Cboe Select Sector Index options offer an alternative vehicle for asset managers who cannot hold options on exchange-traded products (ETPs) due to regulatory constraints.

Efficient Exposure to U.S. Industry Sectors

Index options allow investors to easily capitalize on wider industry trends by executing relative value, dispersion, or correlation strategies without picking individual stocks. Index options also allow investors to express a directional view without the operational overhead of shorting an ETF or stock basket.

Larger Notional Exposure

With a $100 multiplier, Cboe Select Sector Index options can offer investors an efficient way to gain sector exposure or implement sector rotation strategies. Plus, larger notional size may mean lower commission fees.

Cash Settled and No Early Exercise (European Style)

With index options, investors can avoid unwanted delivery of stocks or ETFs and the risk of assignment prior to expiration.

Potential Tax Advantages

Typically, index options are taxed using the 60/40 rule under section 1256 of the Tax Code where 40% of gains is taxed at the short-term rate and 60% at the long-term rate. Investors should consult with their tax advisors to determine how the profit and loss on any strategy will be taxed.1

Click here to read how other asset managers are implementing sector strategies.

S&P offers an interactive webpage that provides data on the Select Sector Indexes, including performance, constituents, methodology, market capitalization, and index fundamentals.

S&P Sector and Industry Indexes

Trade on Cboe

Cboe Select Sector Index Options are available for trading on Cboe Options Exchange. Founded in 1973, Cboe was the first marketplace for trading listed options. For information for trading on Cboe Options Exchange including fee schedules, symbol directory, new listings, holiday calendar, and more, visit:

Trading Tools and Resources

Trading of the Cboe Select Sector Index Options is also available on the Cboe Silexx execution management system. To learn more about Cboe Silexx, sign-up for the platform, or to take a free trial, visit:

Cboe Silexx

Select Sector News

1Under section 1256 of the Tax Code, profit and loss on transactions in certain exchange-traded options, including SPX and SPXpm, are entitled to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the investor involved and the strategy employed satisfy the criteria of the Tax Code. Investors should consult with their tax advisors to determine how the profit and loss on any particular option strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations.