What We Do / Options

Options

Options Trading
at Scale

Citadel Securities is a leading liquidity provider across the options ecosystem, combining advanced technology, deep markets expertise, and seamless execution to serve institutional and retail participants.

^#1

options market maker based on OCC market share¹

30^%

of U.S. consolidated equity options volume executed, #1 retail market maker²

^#1

specialist across major U.S. options exchanges³

25B⁺

average daily option quotes sent⁴

On-Exchange Market Making

Deep Liquidity Across the U.S. Listed Options Market
Citadel Securities is the largest on-exchange options market maker, with approximately 30% market share across the U.S. listed options markets. Our scale and consistency support orderly markets that promote transparency, investor protection, and market integrity—even as average daily volume for options has increased by over 100% from 2020 to 2025.⁵

By combining sophisticated pricing models, resilient infrastructure, and disciplined risk management, we provide continuous liquidity across over a million options series—supporting efficient price discovery even during periods of heightened market volatility.

Institutional Options Trading

We offer clients a range of trading solutions to match any workflow, objective, and market condition, from our hands-on expertise to electronic offerings.

Setting the High-Touch Standard
Our high-touch trading experience is designed for clients seeking a white-glove approach to their options trades. Our technology connects seamlessly with our global liquidity ecosystem to minimize market impact while maintaining a strong focus on price improvement.

Clients benefit from a consultative approach that addresses block pricing needs efficiently and without friction. This high-touch model delivers a consistent, high-quality experience across single-stock, index, and ETF options, enabling institutions to execute with confidence.

Institutional Electronic Trading
Our algorithmic trading suite allows clients to tailor execution strategies to their objectives. Our platform is purpose-built for today’s market structure, designed with modern workflows, speed, and flexibility at its core.

Today, approximately 25% of our institutional flow is executed electronically, complementing our high-touch trading capabilities. Citadel Securities Bullseye, one of our electronic trading offerings, focuses on intelligent price discovery narrowing spread at randomized intervals based on defined urgency, while our proprietary Instant Trader delivers instant, actionable risk price for block options trades through electronic auction.

Retail Liquidity Partnerships

Powering Best-in-Class Execution for Retail Investors
Citadel Securities remains the number one destination for U.S. retail order flow, executing more than 35% of total retail market volume on behalf of hundreds of retail broker-dealer clients. This scale places us at the center of the retail trading ecosystem and supports consistently high-quality execution.

With unparalleled coverage of the OCC-listed options market, Citadel Securities plays a central role in retail options trading. Our broad connectivity creates a powerful network effect—driving deeper liquidity, stronger price discovery, and more resilient markets for participants across the ecosystem.