JPMorgan downgraded CBOE Holdings (NASDAQ: CBOE) from Overweight to Neutral with a price target of $110.00 (from $131.00).

Analyst Ken Worthington comments "While the liquidation and fall of various ETNs represents a risk to VIX Futures volumes, we see this as potentially the tip of the iceberg with a likely reduction in VIX Futures trading activity looking out 1-2 months. We also see some risk to volumes in VIX options."

For an analyst ratings summary and ratings history on CBOE Holdings click here. For more ratings news on CBOE Holdings click here.

Shares of CBOE Holdings closed at $116.94 yesterday.