NYSE to Launch All-or-Nothing Options on Apple, Nvidia and Tesla Shares

What happened

The New York Stock Exchange plans to begin trading all-or-nothing options on 12 stocks and exchange-traded funds within days, with Apple, Nvidia, Tesla and the SPDR S&P 500 ETF Trust among the first. These contracts pay a fixed amount if a share closes above or below a set price, and nothing otherwise.

Confirmed

Global impact / market context

These options give investors a simpler way to bet on a single outcome: they pay a set amount or nothing, unlike standard options with varying payouts. That could draw more short-term trading into shares of Apple, Nvidia and Tesla, adding to price swings and trading revenue.

Analyst inference

Demand for yes-or-no bets is rising fast, with monthly event contract volume growing from about $1 billion in 2024 to more than $50 billion in July 2026. NYSE joins Cboe and MEMX in launching binary contracts this year, intensifying competition among US exchanges for this growing market.

Analyst inference

What to watch

1. NYSE plans to add more stocks and exchange-traded funds as underlying assets over time, beyond the first 12 that include Apple, Nvidia, Tesla and the SPDR S&P 500 ETF Trust. Confirmed
2. Cboe plans to list earnings-related binary contracts in the fourth quarter, after the SEC cleared them on October 13, with Robinhood lined up as the first retail broker. Proposed
3. Watch whether retail brokers like Robinhood and Charles Schwab expand access to these contracts, which could pull more individual investor money into short-term bets on single stocks. Analyst inference

Evidence

• financemagnates.com