Cboe to Offer Nearly 24-Hour Trading for Russell 2000 Options, Expanding Global Access to U.S. Small-Cap Equities

Core Viewpoint - Cboe Global Markets plans to extend trading hours for its Russell 2000 Index options to nearly 24 hours a day, five days a week, starting February 9, 2026, to enhance global access and trading flexibility for investors [1][9]. Trading Hours Expansion - Currently, RUT options are traded during regular U.S. hours from 9:30 a.m. ET to 4:15 p.m. ET, Monday through Friday. The new overnight session will allow trading from 8:15 p.m. ET to 9:25 a.m. ET the following morning, Monday through Friday [2][3]. - This extension aims to help global investors respond to market-moving events and manage risk more effectively in real time [2][5]. Market Demand and Growth - Cboe's Global Trading Hours (GTH) sessions have seen record volumes in 2025, with a 179% increase year-to-date compared to the full year 2022, indicating a growing global appetite for U.S. markets [4]. - The average daily volume in Cboe's RUT options has reached nearly 75 thousand contracts, up 66% compared to the full year 2022, reflecting increased interest in managing risk and implementing options strategies [5]. Product Offering and Flexibility - The addition of RUT options to GTH will expand Cboe's existing offerings, which include S&P 500 Index and Cboe Volatility Index options, providing investors with more tools for trading, hedging, and liquidity opportunities [3][9]. - RUT options are cash-settled, European-style options, allowing for a diverse range of trading strategies without the risk of early exercise [7]. Volatility Tracking - Cboe publishes the Cboe Russell 2000 Volatility Index (RVX) to track implied volatility for the Russell 2000, which has historically shown higher volatility than the VIX Index, reflecting the unique risk profile of small-cap stocks [6].