Cboe Introduces Mag10 Futures and Options for Mega-Cap Tech Trading

Cboe Global Markets is introducing futures and options based on the Cboe Magnificent 10 Index, allowing traders to bet on mega-cap technology stocks. The new products are designed to cater to traders looking for a more targeted way to invest in tech giants. Cboe Executive Vice President Catherine Clay discusses the new offerings.

Cboe Global Markets, Inc. (Cboe: CBOE) has announced plans to launch futures and options on the Cboe Magnificent 10 Index (MGTEN Index), a new thematic index designed to track the performance of 10 U.S.-listed large-cap technology and growth-oriented companies. The new product suite will offer investors a way to gain targeted exposure to these influential stocks through cash-settled index futures and options.

The Cboe Magnificent 10 Index is an equal-weighted benchmark that includes all the Magnificent 7 stocks (Alphabet, Apple, Amazon, Meta, Microsoft, Nvidia, and Tesla) and three additional companies: Advanced Micro Devices (AMD), Broadcom, and Palantir. The index is intended to provide a single solution for investors seeking to manage risk and hedge positions more precisely, both intraday and around the clock.

Cathy Clay, Global Head of Derivatives at Cboe, discussed the new offerings at the HOOD Summit in Las Vegas. She noted that both institutional and retail traders are increasingly looking for smarter ways to gain exposure to the most influential, market-moving stocks. The MGTEN Index futures and options are designed to meet this demand by offering a curated exposure to a select group of high-impact stocks in a single solution, while helping to reduce concentration risk.

The MGTEN options will be cash-settled and European-style, eliminating physical delivery and the potential for early exercise. Along with standard monthly A.M.-settled expirations, Cboe plans to list weekly P.M.-settled options with expiries on each trading day, offering investors the ability to trade zero-days-to-expiry (0DTE) options on the index. This feature has grown significantly in recent years as investors seek the utility short-dated options can provide, including the ability to tactically hedge, manage intraday risk, and implement daily yield-generating strategies.

The MGTEN futures will offer a capital-efficient way to gain exposure to the most influential tech stocks through a single tradable product. Futures provide a way to diversify portfolios with inherent leverage, empowering investors to take larger positions with smaller upfront capital, while offering the precise ability to hedge, speculate, or enter a short position.

Both the MGTEN Index futures and options will be cleared by the Options Clearing Corporation (OCC), potentially allowing for margin offsets. Cboe aims to launch the MGTEN Index monthly options and futures in the fourth quarter of 2025, with the weekly P.M.-expiring options to begin trading in the first quarter of 2026, all subject to regulatory review. At launch, MGTEN Index futures and options trading will be available during regular trading hours and Cboe plans to extend availability through its Global Trading Hours at a later date.

For more details on the index and its tradable products, visit the pre-launch resource hub here [^NUMBER].