This is why $CBOE is flirting with $100 - $VIX futures open interest just broke out to post-pandemic highs.
If OI keeps building we should see good things ahead for $CBOE stock:pic.twitter.com/HhqyUDlYut
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I don't disagree -
$CBOE has an industry-low multiple partly because of its non-recurring traits. But, if improving VIX futures helps earnings beat estimates, the stock can go up even without the multiple changing.
If $CBOE gets punished when the VIX business deteriorates (like during 2020) they should get rewarded when it recovers.