CBOE Short Term Volatility Index

NEW CBOE SHORT-TERM VOLATILTY INDEX (VXST)
On October 1, CBOE introduced its latest innovation in the volatility space – the CBOE Short-Term Volatility Index^SM (VXST^SM). Like the CBOE Volatility Index^® (VIX^®), VXST reflects investors' consensus view of expected stock market volatility. Whereas VIX has a 30-day horizon and is calculated using SPX monthly options, VXST looks out just 9 days and includes S&P 500 options that expire in one week in its calculation. With this 9-day window, VXST is particularly responsive to changes in shorter-term volatility. During the period from January 2011 through August 2013, the historical volatilities of the indexes were 180 for VXST, and 116 for the VIX. 

For more information, including price history and charts, visit www.cboe.com/VXST.

VOLUME GROWTH IN SPX WEEKLYS^SM Average daily volume in SPX Weeklys options has grown from 13,765 contracts in September 2010 to 179,437 contracts in September 2013 (an increase of 1204%). The shorter-time horizon of Weeklys options allows investors to more precisely target buying, selling or spreading strategies. 

For more information and a volume chart, visit www.cboe.com/SPXW. 

NEW PM-SETTLED MINI-SPX OPTIONS (XSP^SM) TO BE LAUNCHED NOVEMBER 5 
On Tuesday, November 5, 2013, CBOE will introduce new, PM-settled Mini-SPX Index Options (XSP) based on 1/10th the value of the S&P 500 Index^® (SPX). The new XSP options will replace CBOE's AM-settled Mini-SPX options. The transition from AM to PM settlement in mini-SPX responds to customer demand for cash-settled options with PM-settlement among investors who currently trade physically-settled ETF options. Recently, the underlying values for SPX options and CBOE’s Mini-SPX (XSP) options were around 1700 and 170 respectively. 

For more information on XSP options, including a link to the recent RegulatoryCircular, visitwww.cboe.com/XSP.