Cboe Options Institute
cboe.com
Free options education from the Cboe exchange: self-paced courses, live classes, learning paths and pricing tools that run on Cboe market data.
What it is
The Options Institute is the education arm of Cboe Global Markets, which runs the largest US options exchange, and has taught options for more than 40 years. Without an account you can read the public starter material: a 30-minute Options 101 course plus short video-and-article lessons on why people trade options, how calls and puts work, how an options trade is processed and how financial indices are built. A short questionnaire on your experience level points you to where to begin.
A free Learning Portal account unlocks the deeper material: self-paced courses on index options, multi-leg strategies, hedging and risk management, crypto derivatives and portfolio management, live classes with Cboe's instructors, a library of class and webinar replays, and recommendations that track your progress and quiz scores. Virtual and in-person classes are listed on a separate schedule.
Two free tools let you test ideas with Cboe data: an Options Calculator for pricing and Greeks under different scenarios, and the LiveVol Trade Optimizer, which suggests strategies from a target price and date ranked by return on investment. Because it comes from an exchange, the material is about how options work rather than any one broker's platform, and there are no trade alerts or signals.
Key features
- Options 101 and starter lessons
- A 30-minute foundations course and 10-to-15-minute lessons on calls, puts, trade mechanics and indices, open without an account.
- Learning Portal
- Free account with self-paced courses from basics to advanced multi-leg, hedging, index and crypto derivatives topics, with progress and score tracking.
- Live classes and replays
- Virtual and in-person classes led by Cboe instructors, plus an archive of webinar and class replays.
- Personal learning paths
- An experience questionnaire and assessment suggest courses and classes that match your level and goals.
- Options Calculator
- Price calls and puts and see the Greeks under different volatility, rate and time inputs using Cboe data.
- Trade Optimizer
- LiveVol-based tool that suggests option strategies for a target price and date, ranked by return on investment.
Pricing
| Plan | Price | What you get |
|---|---|---|
| Learning Portal | $0 | Free account for courses, live classes, replays and learning paths |
Courses, the Learning Portal and the tools are free. The class schedule loads dynamically, so check each class listing for any registration requirements.
Free option: Everything: public starter courses, the Learning Portal with self-paced courses, live classes and replays, and the Options Calculator and Trade Optimizer.
Checked September 25, 2026 on cboe.com. Prices change; confirm on the provider's site before you subscribe.
Strengths
- Free, exchange-run education with no platform to sell
- Runs from absolute basics to advanced volatility, hedging and index options
- Live classes and a replay library alongside self-paced courses
- Pricing and strategy tools that use Cboe market data
Limitations
- Most courses and live classes need a free Learning Portal account
- Education only: no trade alerts, signals, scanners or brokerage
- Focus is on listed options and indices; stock-picking or chart-reading courses are not the aim
- Tools are for testing scenarios, not for managing live positions
Good fit for
- Beginners who want a structured, neutral introduction to options
- Intermediate traders moving into spreads, hedging or index options
- Traders who want to model a trade's price and Greeks before placing it
Look elsewhere if
- Traders looking for trade ideas or a community to follow
- Anyone wanting broker-specific platform tutorials
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Cboe Options Institute questions
Is the Cboe Options Institute free?
Yes. The starter courses, the Learning Portal, live classes, replays and the tools are free; the portal needs a free account.
Where should a beginner start at the Options Institute?
Options 101, a 30-minute course on calls, puts, strike prices and pricing basics. The experience questionnaire then suggests next steps.
What tools does the Options Institute offer?
An Options Calculator for pricing and Greeks and the LiveVol Trade Optimizer for comparing strategies against a target price and date.
Do I need a Cboe or broker account?
No. You only need a free Learning Portal account for the full courses; no brokerage account is involved.
Written from Cboe Options Institute's own website and documentation. All Trading Tools lists and compares tools; it does not recommend trades or give financial advice. Sources: cboe.com/optionsinstitute, cboe.com/optionsinstitute/learningportal, cboe.com/optionsinstitute/classes, cboe.com/optionsinstitute/tools/trade-optimizer.