Seasonality
CBOE seasonality — Cboe Global Markets
Over the last 11 years, CBOE's strongest month on average has been October (+5.9%) and its weakest June (-2.0%).
Average return by month
Month-by-month statistics
| Month | Avg | Median | Up % | Best | Worst | Yrs |
|---|---|---|---|---|---|---|
| Jan | +1.41% | +2.82% | 60% | +7.9% | -9.1% | 10 |
| Feb | +0.69% | +2.75% | 60% | +13.1% | -16.6% | 10 |
| Mar | -1.60% | -0.38% | 40% | +7.3% | -21.7% | 10 |
| Apr | +2.50% | +2.86% | 60% | +11.3% | -6.4% | 10 |
| May | +2.09% | +4.05% | 60% | +11.2% | -8.6% | 10 |
| Jun | -1.96% | +1.28% | 60% | +7.0% | -27.2% | 10 |
| Jul | +4.51% | +3.39% | 70% | +27.8% | -6.7% | 10 |
| Aug | +4.00% | +5.57% | 70% | +11.9% | -4.4% | 10 |
| Sep | -0.87% | -1.16% | 30% | +6.7% | -8.3% | 10 |
| Oct | +5.93% | +4.98% | 90% | +21.9% | -7.3% | 10 |
| Nov | +4.12% | +3.26% | 78% | +12.3% | -4.6% | 9 |
| Dec | -1.22% | -0.08% | 50% | +7.2% | -9.5% | 10 |
Monthly returns heat map — CBOE
price return, %| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.6 | 13.1 | -6.2 | 6.8 | 11.2 | -27.2 | 27.8 | -3.2 | -8.3 | 21.9 | 5.3 | +40.8% | |
| 2025 | 4.6 | 3.2 | 7.3 | -2.0 | 3.3 | 1.8 | 3.4 | -2.1 | 3.9 | 0.2 | 5.1 | -2.8 | +28.4% |
| 2024 | 3.0 | 4.4 | -4.3 | -1.4 | -4.5 | -1.7 | 7.9 | 11.9 | -0.3 | 4.2 | 1.1 | -9.5 | +9.4% |
| 2023 | -2.1 | 2.7 | 6.4 | 4.1 | -5.2 | 4.2 | 1.2 | 7.2 | 4.3 | 4.9 | 11.2 | -2.0 | +42.3% |
| 2022 | -9.1 | -1.1 | -2.5 | -1.3 | -0.6 | 0.8 | 9.0 | -4.4 | -0.5 | 6.1 | 1.9 | -1.1 | -3.8% |
| 2021 | -1.5 | 7.9 | -0.3 | 5.8 | 6.6 | 7.0 | -0.5 | 6.5 | -1.8 | 6.5 | -2.3 | 1.1 | +40.0% |
| 2020 | 2.7 | -7.5 | -21.7 | 11.3 | 7.1 | -12.4 | -6.0 | 4.7 | -4.4 | -7.3 | 12.3 | 2.0 | -22.4% |
| 2019 | -4.7 | 2.8 | -0.5 | 6.5 | 6.8 | -4.5 | 5.5 | 9.0 | -3.6 | 0.2 | 3.3 | 0.9 | +22.7% |
| 2018 | 7.9 | -16.6 | 1.9 | -6.4 | -8.6 | 6.7 | -6.7 | 3.8 | -4.8 | 17.6 | -4.6 | -9.1 | -21.5% |
| 2017 | 7.8 | -2.0 | 3.9 | 1.6 | 4.8 | 5.8 | 3.4 | 6.7 | 6.7 | 5.0 | 9.2 | 0.9 | +68.6% |
| 2016 | 7.2 |