The options tape is noisy. Intraday volatility cycles, 0DTE reflexes, ETF-driven options growth, and increasingly granular expiration schedules are reshaping how liquidity forms, migrates, and occasionally disappears. This session examines where activity is truly concentrating across index and single-stock products, including the continued expansion of daily expirations into select equities, and how that evolution is influencing spreads, hedging behavior, market-maker capacity, and risk transfer.
Panelists will explore how product design is steering flow through defined outcome ETFs, single-stock ETFs, cash-settled index expansion, and targeted daily expirations and discuss what these structural shifts imply for market stability, education, and liquidity quality over the next 12–24 months.
Moderator: Henry Schwartz, Vice President, Market Intelligence, Cboe Global Markets
Panelists:
Annabelle Baldwin, Chief Revenue Officer, SpiderRock Shelly Brown, Executive Vice President, Chief Strategy Officer, MIAX Geralyn Endo, Head of Options Business Development, MEMX