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Russell 2000 Index Options Suite
Harness the Russell 2000 Index to access small-cap momentum, manage risk, and diversify beyond large-caps—all through one efficient, cash-settled options contract.
Manage your positions with increased certainty, as options can only be exercised at expiration.
OPTIONS
Russell 2000 Index Options
Learn MoreOPTIONS
Mini-Russell 2000 Index Options
Learn MoreMeasure the performance of a hypothetical buy-write strategy combining a Russell 2000 stock portfolio with a one-month at-the-money call option.
Learn MoreEvaluate a hypothetical buy-write strategy pairing a Russell 2000 stock portfolio with a one-month out-of-the-money call option.
Learn MoreGauge the performance of a hypothetical strategy that sells Russell 2000 Index put options against collateralized cash reserves.
Learn More| Cboe Index Options | ETF Options | ||
|---|---|---|---|
| MINI-RUT® | RUT® | ISHARES® ETF (IWM) | |
| Contract Size | 1/10th of RUT | 1 RUT | 1/10th of RUT |
| Contract Multiplier | $100 | $100 | $100 |
| Approx. Notional Size (if R2000 is $2,000) | $20,000 | $200,000 | $20,000 |
| Settlement Type | Trading account credited or debited in cash | Delivery of underlying shares | |
| Exercise Style | European style, exercised at expiration, no risk of early exercise or assignment | American style, can be exercised or assigned prior to expiration | |
| Tax Treatment | Capital gains may benefit from 60% / 40% tax treatment* | Standard short- and long-term tax rules | |
| Extended Trading Hours | Global trading hours available | Standard market trading hours | |
| Certainty of Settlement | Settlement and exercise style eliminate potential economic and tax risk for writers | After market contract assignment may result in unplanned residual positions | |
Access real-time market trends and macro updates that shape S&P 500 performance. Gain timely perspectives to support your trading decisions.
The first couple months of 2026 have been marked by continued geopolitical risks and renewed discussion of tariffs, impacting U.S. and global markets. U.S. equity indices, including the Russell 2000 Index (RUT), experienced their first daily loss greater than 1% of 2026 immediately following Martin Luther King Day. Market volatility further increased with the Cboe Russell 2000 Volatility Index (RVX) reaching a year-to-date high at the beginning of March, driven by renewed geopolitical tensions in the Middle East that drove oil prices higher and adding further headwinds for equities. With the return of these volatile market conditions, volatility reduction strategies, such as covered calls, are once again in high demand to help investors navigate the heightened market volatility.
February proved to be a tale of two markets as the weakness among “Magnificent 10” stocks impacted the cap-weighted S&P 500® Index leading to outperformance in small-cap and equal-weighted strategies. The S&P 500 Equal Weight Index (SPEQX) led all major benchmarks with a gain of 3.4%, finishing near all-time highs, while the Russell 2000® Index added 0.71%.
As options trading continues to accelerate across global markets, firms need market data solutions that deliver speed, accuracy and efficiency without overwhelming their infrastructure. Cboe Options Lite meets that need by offering a cost-effective, low-bandwidth, consolidated U.S. options feed that provides only what you need and nothing more.
Get the latest Cboe derivatives news and insights.
There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: Disclosures and Disclaimers Related to Cboe Options and Futures Products. These products are complex and are suitable only for sophisticated market participants.
*Under section 1256 of the Tax Code, profit and loss on transactions in certain exchange-traded options and futures are entitled to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the market participants involved and the strategy employed satisfy the criteria of the Tax Code. Market participants should consult with their tax advisors to determine how the profit and loss on any particular option or futures strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations.
