CBOE
Cboe Global MarketsBATSFinancialsFinancial Data & Stock ExchangesSnapshot 2026-05-08
As of May 8, 2026, CBOE has a composite score of 8.8, with a signal label of "mixed" and a medium confidence level of 73.0. The score is influenced by a favorable outlook from potential guidance raises and macroeconomic reversals, while unfavorable trends in the financial sector and growth state also impact the overall assessment. The top drivers include macro rates, growth, labor, and inflation factors. This analysis is provisional.
Price
Daily closes from AlphaVantage. Earnings/event dots are placed inline.
Factor signals
Read top-to-bottom: thesis (is this a strong company over a 1–3 year hold), watch flags (has something changed worth re-reading), and position context (how violent might the path be). Each pill is a parallel diagnostic — never aggregated into a single score.
Thesis
— is this a strong company over a 1–3 year hold?Why this rank
- Direction share1.00
- Slope (norm)-0.18
- Bonus0.00
Why this rank
Trailing four: 2024-Q3, 2025-Q1, 2025-Q2, 2025-Q3
Why this rank
Watch
— has something changed worth re-reading?Why this setup
EPS estimate $2.90 → $3.31 (+14.0% / 30d). 8 raised, 0 cut, 13 covering analysts.
0 upgrades, 0 downgrades / 30d, 6 maintained. 18% of analysts rate Buy.
9 PT revisions / 30d. Avg target 4.8% above current price.
1 positive, 0 negative / 30d. See F4 management tile for the event list.
F4 · Management deep-dive — recent events, stated priorities, guidance track record
Recent 8-K events
1 material event in the last 24 months — top 1 listed below.
Stated priorities
3 priorityies extracted from earnings transcripts (as of 2026-05-08).
- 1.Increase Data Vantage revenue growthgrowthmixed65% progress
5/1: “We anticipate 2026 Data Vantage organic net revenue growth will be in the 'low double-digit' range.”
Why this status
Stated in 3 of last 3 quarters. Management has consistently aimed for higher growth in Data Vantage revenue, adjusting guidance from 'mid to high single-digit' to 'low double-digit' for 2026. However, specific revenue figures are not provided, making it difficult to assess delivery.
- 2.Optimize resource allocationcostmixed65% progress
5/1: “Announced additional actions related to strategic realignment by optimizing resource allocation.”
Why this status
Stated in 2 of last 2 quarters. The company has announced strategic realignment efforts to optimize resource allocation, expected to complete by end of 2026. However, financials do not yet reflect specific cost savings or efficiency gains from these actions.
- 3.Reduce operating expensescostbehind9% progress
5/1: “Adjusted operating expenses in 2026 are expected to be $838 to $853 million, down from $864 to $879 million.”
Why this status
Stated in 3 of last 3 quarters. Management has consistently aimed to reduce operating expenses, with guidance for 2026 set at $838-$853 million, down from $864-$879 million. However, financials do not yet show the impact of these reductions.
Guidance track record
Insufficient guidance history for this ticker.
Position context
— how violent might the path be while I hold it?Why this risk level
Recent vol — 30d annualized 36%; 252d 24%.
Drawdown — Max 1y −10%. Bad day move −2%.
Beta to sector ETF (XLF) — 0.01 over 1y.
Liquidity — score 100/100.
Sub-scores — vol 61/100, drawdown 79/100, beta 1/100, earnings vol —.
Calm + bullish setup — clean pre-earnings positioning pattern.
via XLF
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive — historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only — describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-05-08.
What changed
The most important moves since the prior daily snapshot.
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-05-08
Management scorecard
How management runs the business — capital, margins, balance sheet, and how reliably they guide and deliver.
What management is focused on
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
- #1
Increase Data Vantage revenue growth
GrowthNew since 2026-05-04Focus on achieving low double-digit growth in Data Vantage organic net revenue for 2026.
Watch →MixedStated in 3 of last 3 quarters. Management has consistently aimed for higher growth in Data Vantage revenue, adjusting guidance from 'mid to high single-digit' to 'low double-digit' for 2026. However, specific revenue figures are not provided, making it difficult to assess delivery.
65%CEO/CFO:“We anticipate 2026 Data Vantage organic net revenue growth will be in the 'low double-digit' range.”Multiple sourcesSource dated 2026-05-01Stated 3 of last 8 quartersFirst seen 2026-05-04Show history (3)
- 2026-Q1Multiple sources
“We anticipate 2026 Data Vantage organic net revenue growth will be in the 'low double-digit' range.”
- 2025-Q4Multiple sources
“Data Vantage organic net revenue growth is expected to be in the 'high single-digit to low double-digit' range in 2025.”
- 2025-Q3Multiple sources
“Increases 2025 Organic Total Net Revenue Growth Target to high single digits.”
- #2
Optimize resource allocation
CostNew since 2026-05-04Implement strategic realignment to optimize resource allocation across the organization by end of 2026.
Watch →MixedStated in 2 of last 2 quarters. The company has announced strategic realignment efforts to optimize resource allocation, expected to complete by end of 2026. However, financials do not yet reflect specific cost savings or efficiency gains from these actions.
65%CEO/CFO:“Announced additional actions related to strategic realignment by optimizing resource allocation.”Multiple sourcesSource dated 2026-05-01Stated 2 of last 8 quartersFirst seen 2026-05-04Show history (2)
- 2026-Q1Multiple sources
“Announced additional actions related to strategic realignment by optimizing resource allocation.”
- 2025-Q4Multiple sources
“Comprehensive strategic review of the Company’s global business operations.”
- #3
Reduce operating expenses
CostNew since 2026-05-04Aim to reduce adjusted operating expenses to $838-$853 million in 2026.
Watch →BehindStated in 3 of last 3 quarters. Management has consistently aimed to reduce operating expenses, with guidance for 2026 set at $838-$853 million, down from $864-$879 million. However, financials do not yet show the impact of these reductions.
9%CEO/CFO:“Adjusted operating expenses in 2026 are expected to be $838 to $853 million, down from $864 to $879 million.”Multiple sourcesSource dated 2026-05-01Stated 3 of last 8 quartersFirst seen 2026-05-04Show history (3)
- 2026-Q1Multiple sources
“Adjusted operating expenses in 2026 are expected to be $838 to $853 million.”
- 2025-Q4Multiple sources
“Adjusted operating expenses are expected to be in the range of $827 to $842 million in 2025.”
- 2025-Q3Multiple sources
“Adjusted operating expenses are expected to be in the range of $832 to $847 million.”
How this stock is priced
Two ways to read price: against peers in the same business, and against the company's own history.
Looks more expensive than peers.
Cheaper than its own typical valuation.
P/E over the last 5 years
71 monthly pointsHow this compares
A side-by-side read on composite, valuation, and risk versus peers.
| Stock | Composite | Valuation | Risk |
|---|---|---|---|
CBOE Cboe Global Markets | +8.8 | full | moderate |
BRK-B Berkshire Hathaway | +6.0 | — | moderate |
JPM JPMorgan Chase | -0.9 | full | low |
V Visa Inc. | +20 | — | low |
MA Mastercard | +15 | full | low |
Risk — how this stock moves
What a normal day looks like, what a bad day looks like, and the worst the last year has thrown at it.
What could change this view
Conditional scenarios — if X happens, the score would shift by about Y points. These are not predictions.
- If next-quarter guidance is raised (currently LOWERED as of 2026-05-01)+16 pts
- If rates state reverses from -0.37 (negative) to +0.37 (positive)+6.6 pts
- If financials sector trend rises from +0.07 into 'improving' (>= +0.20)+5.0 pts
- If financials sector trend falls from +0.07 into 'weakening' (<= -0.20)-5.0 pts
- If growth state reverses from +0.25 (positive) to -0.25 (negative)-3.0 pts
Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-05-018d agoItem 2.02
The information set forth under this Item 2.02, including the Exhibit attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
earnings preannouncementpositivescore 60 - 2026-05-018d agoItem 2.05
COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES. On May 1, 2026, the Company announced additional actions related to its strategic realignment by optimizing resource allocation across the organization, which it expects to be substantially completed by the end of 2026. This follows a comprehensive strategic review of the Company’s global business operations that occurred in the fourth quarter of 2025 and is part of a broader effort to sharpen strategic focus and allocate resources more effec…
product or strategy shiftneutralscore 51
Score history
The composite score, snapshot by snapshot. The dotted line at zero separates leaning-positive from leaning-negative.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.