CBOE
Cboe Global Markets Inc. Financial Services - Exchanges Investor Relations →
Cboe Global Markets Inc. (CBOE) closed at $272.86 as of 2026-09-18, trading 34.3% above its 200-week moving average of $203.19. The stock is currently moving closer to the line, down from 38.8% last week. The 14-week RSI sits at 45, indicating neutral momentum.
Trading volume is running at 1.2x of its 14-week average, which is in the normal range. The balance between buying and selling volume (0.77 ratio) is neutral — neither side is clearly dominating.
Over the past 800 weeks of data, CBOE has crossed below its 200-week moving average 7 times. On average, these episodes lasted 9 weeks. Historically, investors who bought CBOE at the start of these episodes saw an average one-year return of +26.3%.
With a market cap of $28.5 billion, CBOE is a large-cap stock. The company generates a free cash flow yield of 2.4%. Return on equity stands at 26.3%, indicating strong profitability. The stock trades at 5.1x book value.
CBOE passes our Buffett quality screen: high return on equity, low debt, and positive free cash flow.
Over the past 15.4 years, a hypothetical investment of $100 in CBOE would have grown to $1324, compared to $741 for the S&P 500. That represents an annualized return of 18.2% vs 13.9% for the index — confirming CBOE as a market-beating investment and the kind of quality company where buying during 200-week moving average touches has historically been rewarded.
Free cash flow has been growing at a 41.7% compound annual rate, with 4 consecutive years of positive cash generation.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: CBOE vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After CBOE Crosses Below the Line?
Across 7 historical episodes, buying CBOE when it crossed below its 200-week moving average produced an average return of +26.1% after 12 months (median +22.0%), compared to +30.7% for the S&P 500 over the same periods. 100% of those episodes were profitable after one year. After 24 months, the average return was +60.4% vs +39.0% for the index.
Each line shows $100 invested at the moment CBOE crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Bean Score Experimental
The Bean Score measures how far a stock's free cash flow yield has deviated from its own quarterly baseline, normalized by the stock's historical behavior. Between earnings dates, FCF is constant — so the score is purely a function of stock price. The levels below show at what prices CBOE would reach each dislocation threshold.
Dislocation Price Levels
Prices where CBOE's Bean Score would hit each σ threshold. Valid until next earnings report: 2026-10-30.
| Level | σ | Price | Signal |
|---|---|---|---|
| Deep Value | +2σ | $209.96 | Unusually cheap — analysis point |
| Value | +1σ | $236.52 | Cheap vs. own history |
| Fair Value | +0σ | $270.76 | Historical mean behavior |
| Expensive | -1σ | $316.61 | Expensive vs. own history |
| Deep Expensive | -2σ | $381.14 | Unusually expensive — analysis point |
Quarterly FCF & Yield Trailing twelve-month free cash flow and yield at each quarter end
Recent Earnings
| Date | EPS Est. | EPS Actual | Surprise |
|---|---|---|---|
| 2026-07-31 | $3.49 | $3.56 | +2.0% |
| 2026-05-01 | $3.37 | $3.70 | +9.7% |
| 2026-02-06 | $2.95 | $3.06 | +3.8% |
| 2025-10-31 | $2.53 | $2.67 | +5.6% |
Signal Accuracy Collecting Data
The Bean Score system is accumulating weekly data to validate signal accuracy. After 13+ weeks of history, this section will display win rates and average returns for each σ threshold crossing — answering the question: "When this score says cheap or expensive, does the price subsequently move in the expected direction?"
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Theoretical framework — not backtested or forward-tested. The Bean Score uses trailing twelve-month free cash flow yield as a dislocation identifier. It measures whether the market has pushed a stock's yield unusually far from its own baseline behavior. These levels are analysis points: prices at which the yield deviation becomes unusual enough to justify the work. FCF values update quarterly with earnings; between reports, all movement is price-driven.
Dislocation Scores Experimental
Each score measures deviation from CBOE's own historical baseline — the same idea as the Bean Score, applied to different fundamentals. Positive means cheaper or more dislocated than this stock's norm. Scores marked σ are normalized by the stock's own variability; pp values are simple deltas from its recent baseline.
Theoretical framework — not backtested. These scores describe how unusual today's readings are for this specific company. Each one is an analysis point, a reason to open the filings. Annual-statement scores (buyback, accruals, FCF vs history) rest on only ~4 yearly data points and are deltas, not sigmas.
Historical Touches
CBOE has crossed below its 200-week MA 7 times with an average 1-year return of +26.3% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Jun 2011 | Sep 2011 | 13 | 8.2% | +12.1% | +1293.0% |
| Sep 2011 | Oct 2011 | 2 | 1.0% | +22.4% | +1274.4% |
| May 2012 | May 2012 | 1 | 0.8% | +66.7% | +1237.7% |
| Mar 2020 | May 2020 | 8 | 17.5% | +11.9% | +213.2% |
| Jun 2020 | Jun 2020 | 1 | 0.2% | +16.4% | +202.4% |
| Jun 2020 | Mar 2021 | 36 | 18.8% | +35.4% | +223.3% |
| Mar 2021 | Apr 2021 | 3 | 3.3% | +19.2% | +198.7% |
| Average | 9 | — | +26.3% | — |
Frequently Asked Questions
Is CBOE below its 200-week moving average?
No. Cboe Global Markets Inc. (CBOE) is currently 34.3% above its 200-week moving average of $203.19. It would need to fall to $203.19 to cross below the line.
What is CBOE's 200-week moving average price?
Cboe Global Markets Inc.'s 200-week moving average is $203.19 as of 2026-09-18. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when CBOE drops below its 200-week moving average?
CBOE has crossed below its 200-week moving average 7 times in our data. On average, buying at that moment produced a one-year return of +26.3%. These dips have historically been decent entry points. These episodes lasted 9 weeks on average.
Is CBOE a good value right now?
Here's what our data says about CBOE as of 2026-09-18: The stock is above its 200-week moving average, so it doesn't currently meet our primary signal. The 14-week RSI is 45. Free cash flow yield is 2.4%. Return on equity is 26.3%. Price-to-book is 5.1x. This is not a buy or sell recommendation — always do your own research.
How does CBOE compare to the S&P 500?
Over the past 15.4 years, $100 invested in CBOE would have grown to $1324, compared to $741 for the S&P 500. That's 18.2% annualized vs 13.9% for the index. CBOE has outperformed the broader market over this period.
Does CBOE pay a dividend?
Yes. Cboe Global Markets Inc. currently pays a dividend yield of 126.00%.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-09-18