XSP
Meet XSP (Mini-SPX), a smaller, more agile alternative to standard S&P 500SM Index Options. Ideal for broad equity exposure, dynamic hedging, and fine-tuning positions in fast-moving markets.
Volume
Open Interest
XSP options offer targeted exposure to the S&P 500 at 1/10th the size of standard SPX contracts, enabling more precision in risk management and portfolio strategies.
S&P 500 Level
as of:
Number of Options Contracts
Enter number of SPX contracts
The Mini-SPX Index is based on 1/10th the value of the Standard and Poor's 500 Index. Calculation reflects a relationship of 1 SPX = 10 XSP.
The Mini-SPX Index is based on 1/10th the value of the Standard and Poor's 500 Index. Calculation reflects a relationship of 1 SPX = 10 XSP.
S&P 500 (SPX) Index Options
Mini-SPX (XSP) Index Options
SPX
1
XSP
10
SPX
$100
XSP
$100
SPX = Index level x $100; XSP = Index level x $100 x 1/10
SPX
$-
XSP
$-
Rounded to the closest at-the-money (ATM) price
SPX
$-
XSP
$-
based on current S&P 500 index level for today's option expiration
SPX
$-
XSP
$-
based on current S&P 500 index level for today's option expiration
SPX
$-
XSP
$-
The SPX and XSP Comparison Calculator is an educational tool intended to assist individuals in understanding the differences between the two option contracts and the values will change based upon user inputs. It is not intended to provide investment advice, and users of the SPX and XSP Comparison Calculator should not make investment decisions based upon values generated by it. Your use of the SPX and XSP Comparison Calculator is subject to the Terms and Conditions of Cboe's Websites.
XSP index options are a key component of the Cboe S&P 500 Suite—an integrated suite of proprietary products engineered for precision, efficiency, and flexibility. Designed to deliver targeted S&P 500 exposure, XSP index options offer streamlined execution and robust risk management in a mini contract format, making them ideal for tactical trading and portfolio hedging.
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There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: Disclosures and Disclaimers Related to Cboe Options and Futures Products. These products are complex and are suitable only for sophisticated market participants. In certain jurisdictions, Cboe Company products are only permitted for investment professionals, certified sophisticated investors, or high net worth corporations and associations. These products involve the risk of loss, which can be substantial and, depending on the type of product, can exceed the amount of money deposited in establishing the position. Market participants should put at risk only funds that they can afford to lose without affecting their lifestyle.
