Cboe Launches Nearly 24-Hour Trading in Russell 2000 Index Options

Rhea-AI Summary

Cboe (CBOE) launched nearly 24-hour, five-day trading for cash-settled Russell 2000 (RUT) and Russell 2000 Weeklys (RUTW) options on Feb 12, 2026. RUT options now trade in Regular Trading Hours, Global Trading Hours, and Curb Trading Hours to give global investors expanded access.

Key data: Cboe's Global Trading Hours volumes rose 27% in 2025 versus 2024; in January, 0DTE represented 23% of RUT options activity.

Positive

• Nearly 24x5 RUT trading expands global market access
• GTH volume +27% in 2025 vs 2024
• 0DTE = 23% of RUT activity in January

Negative

• None.

Key Figures

Price change: 0.73% Global Trading Hours growth: 27% RUT 0DTE share: 23% +5 more

8 metrics

Price change 0.73% CBOE move over last 24h prior to this news

Global Trading Hours growth 27% 2025 GTH volumes vs 2024 for SPX, XSP and VIX options

RUT 0DTE share 23% Share of total RUT options activity in January attributed to 0DTE trades

Webinar date February 25, 12:30 p.m. ET Scheduled Cboe webinar on expanded RUT trading hours

Regular Trading Hours 9:30 a.m.–4:15 p.m. ET RUT and RUTW options Cboe Regular Trading Hours

Global Trading Hours 8:15 p.m.–9:25 a.m. ET RUT and RUTW options Cboe Global Trading Hours

Curb Trading Hours 4:15 p.m.–5:00 p.m. ET RUT and RUTW options Curb Trading Hours

Market cap $28,111,702,241 CBOE equity value prior to RUT GTH expansion news

Market Reality Check

Price: $271.02 Vol: Volume 743,420 is about 0...

normal vol

$271.02 Last Close

Volume Volume 743,420 is about 0.82x the 20-day average of 911,925, indicating quieter-than-normal trading ahead of this launch. normal

Technical Shares at $271.02 are trading above the 200-day MA of $243.81 and about 4.28% below the 52-week high of $283.13.

Peers on Argus

CBOE gained 0.73% while close peers showed mixed moves: FDS up 4.0%, MSCI up 1.7...

1 Up

CBOE gained 0.73% while close peers showed mixed moves: FDS up 4.0%, MSCI up 1.77%, but NDAQ down 2.38%, TRU down 1.84%, and MORN down 0.67%. Momentum scans only flag COIN (+4.03%) from an adjacent space, reinforcing this as a stock-specific product announcement rather than a broad sector move.

Common Catalyst Several data/exchange peers reported or highlighted earnings and results today, but no common theme ties directly to CBOE’s RUT trading-hours expansion.

Historical Context

5 past events · Latest: Feb 06 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 06	Earnings results	Positive	-0.7%	Record 4Q25 and full‑year 2025 revenue and EPS with 2026 guidance.
Feb 04	Volume update	Positive	+0.9%	Strong January 2026 trading growth across index options, equities, and FX.
Jan 26	Leadership changes	Neutral	-2.3%	COO retirement and appointments to key global trading leadership roles.
Jan 06	Volume update	Positive	+2.0%	Record 2025 U.S. options, SPX 0DTE, Europe equity and FX spot activity.
Dec 19	Regulatory relations	Neutral	-0.6%	Statement congratulating new CFTC Chairman and reaffirming regulatory cooperation.

Pattern Detected

Recent CBOE news with strong operational or volume metrics often saw positive price alignment, while the latest record earnings release drew a modestly negative reaction.

Recent Company History

Over the last few months, Cboe highlighted strong trading growth and record results. A Dec 2025 update showed record options and FX volumes, followed by Jan 2026 and Feb 2026 releases detailing further index options growth and record 4Q25 and full‑year 2025 earnings. Management changes were disclosed in late Jan 2026. Today’s expansion of nearly 24‑hour RUT options trading continues this arc of derivatives-focused product and access enhancements.

Market Pulse Summary

This announcement extends Cboe’s derivatives strategy by adding nearly 24‑hour Russell 2000 options ...

Analysis

This announcement extends Cboe’s derivatives strategy by adding nearly 24‑hour Russell 2000 options trading to its existing SPX and VIX Global Trading Hours lineup. It comes after record 2025 results and robust January 2026 volumes. The move could further leverage rising 0DTE activity, which reached 23% of RUT volume in January. Investors may watch subsequent monthly volume reports, derivatives mix shifts, and management commentary to gauge how much incremental demand this expanded access generates.

Key Terms

cash-settled, european-style options, zero-days-to-expiry (0DTE), global trading hours (gth), +3 more

7 terms

cash-settled financial

"RUT options saw record demand as investors increasingly turned to cash-settled, European-style options"

Cash-settled describes a financial contract that is resolved by paying the monetary difference between agreed and actual prices, instead of delivering the underlying asset. For investors, it matters because it simplifies trades—like settling a bet with cash rather than handing over the item—and affects liquidity, tax treatment, and counterparty exposure, since you receive or pay only the value change rather than owning or transferring the actual security or commodity.

european-style options financial

"RUT options saw record demand as investors increasingly turned to cash-settled, European-style options"

A European-style option is a contract that gives the holder the right, but not the obligation, to buy or sell an asset only on a specific expiry date rather than at any time before then. For investors this matters because it limits when you can act—think of it like a concert ticket valid only on the event day—which affects how the option is priced, how you manage risk, and which trading strategies are appropriate.

zero-days-to-expiry (0DTE) financial

"generate yield, or implement zero-days-to-expiry (0DTE) positions."

Zero-days-to-expiry (0dte) describes options contracts that expire on the same trading day they are bought or sold. Investors use them to take quick, short-term positions or to hedge intraday risk; because the contract’s value is tied to price moves within hours, small market shifts can cause large gains or losses, much like betting on the outcome of a game that ends today.

global trading hours (gth) technical

"RUT and RUTW options now trade Monday through Friday during Cboe's Regular Trading Hours (RTH)... Global Trading Hours (GTH)..."

Global trading hours (GTH) are extended electronic trading sessions that let investors buy and sell securities outside a market’s standard opening hours, often spanning multiple time zones. They matter because they allow faster reactions to international news and continuous price discovery, but they can also have thinner liquidity and wider price swings—think of a smaller late-night store where you can still shop, but choices and prices may be less predictable.

regular trading hours (rth) technical

"RUT and RUTW options now trade Monday through Friday during Cboe's Regular Trading Hours (RTH)..."

Regular trading hours are the main, scheduled time window during which a stock exchange is open and the majority of buy and sell orders are matched. It matters to investors because this is when liquidity is highest, prices are most reliable, and trades are most likely to execute quickly—think of it as the store’s busiest hours when most customers set the going prices; trading outside those hours can mean wider price swings and harder-to-fill orders.

curb trading hours technical

"Global Trading Hours (GTH) (8:15 p.m. ET to 9:25 a.m. ET) and Curb Trading Hours (4:15 p.m. to 5:00 p.m. ET)."

Curb trading hours are the times when stocks are bought and sold outside an exchange’s official opening and closing times, using alternative venues or private deals. Like conversations that keep happening after a meeting ends, these trades let investors react to news and move prices before the next regular session, but they often have thinner participation and wider price gaps, so orders can be harder to fill and carry greater risk for investors.

index options financial

"As a key benchmark for U.S. small-cap equities, the expansion of Russell 2000 Index options will now offer investors enhanced flexibility..."

Index options are contracts that give investors the choice to buy or sell a group of stocks, called an index, at a set price before a certain date. They are useful for managing risk or making bets on the overall market’s direction, much like placing a bet on whether the entire sports team will win or lose.

AI-generated analysis. Not financial advice.

• Cash-settled Russell 2000® Index (RUT) options now available during Cboe's Global Trading Hours
• Cboe now offers nearly 24x5 trading for RUT, S&P 500 Index and Cboe Volatility Index options
• RUT options and Cboe's Global Trading Hours both reached record volumes in 2025

CHICAGO, Feb. 12, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced Russell 2000 Index (RUT) and Russell 2000 Index Weeklys (RUTW) options are now available to trade on the Cboe Options Exchange nearly 24 hours a day, five days a week.

The addition of RUT options to Cboe's Global Trading Hours (GTH) session offers European and Asia Pacific investors the ability to better manage U.S. small-cap exposure and trade during their local daytime hours. Cboe also offers S&P 500 Index (SPX), Mini-SPX (XSP) and Cboe Volatility Index (VIX) options during its GTH session, which experienced record volumes in 2025, up 27% compared to 2024.

RUT options saw record demand as investors increasingly turned to cash-settled, European-style options to help manage positioning and implement a broad range of trading strategies. Retail and institutional investors typically utilize RUT options to hedge or express market views, generate yield, or implement zero-days-to-expiry (0DTE) positions. In January, 0DTE trading represented 23% of total RUT options activity, reflecting growing investor demand for short-dated strategies.

"Cboe remains steadfast in our efforts to expand global access to U.S. markets and empower investors with the flexibility and tools they need to manage today's market environment," said Rob Hocking, Global Head of Derivatives at Cboe. "Demand for Russell 2000 Index options remained elevated as market participants navigated uncertainty, looked to diversify exposure and sought the utility index options can provide. By offering nearly 24-hour RUT trading alongside our SPX and VIX options, global investors can better act on their strategies in real time, regardless of time zone."  

Milan Galik, Chief Executive Officer of Interactive Brokers, said: "Interactive Brokers is committed to expanding trading hours across the wide scope of asset classes we offer to our global clientele, as soon as and wherever such expansion is possible. With exchanges like Cboe now enabling 24/5 trading for Russell 2000 Index options, our clients worldwide gain the ability to manage their small-cap options positions around the clock and respond to international market developments in real-time." 

Shawn Creighton, Director of Index Derivatives Solutions at FTSE Russell, said: "Cboe's decision to introduce nearly 24-hour trading for Russell 2000 Index options is a significant milestone for global investors. As a key benchmark for U.S. small-cap equities, the expansion of Russell 2000 Index options will now offer investors enhanced flexibility to capture opportunities across time zones."

On February 25 at 12:30 p.m. ET, Cboe will host a webinar featuring Mandy Xu, Head of Derivatives Market Intelligence at Cboe, and Catherine Yoshimoto, Director of Product Management at FTSE Russell. The discussion will cover the expansion of RUT trading hours, recent RUT options trading trends, and the outlook for small-cap performance and volatility. Visit here to sign up to receive webinar registration details and additional Cboe derivatives insights and analysis.

RUT and RUTW options now trade Monday through Friday during Cboe's Regular Trading Hours (RTH) (9:30 a.m. ET to 4:15 p.m. ET), Global Trading Hours (GTH) (8:15 p.m. ET to 9:25 a.m. ET) and Curb Trading Hours (4:15 p.m. to 5:00 p.m. ET).

For more information on Cboe's Global Trading Hours, visit Cboe Global Trading Hours.

About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing, and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more, visit www.cboe.com.

Cboe Media Contacts				Cboe Analyst Contact
Angela Tu	Tim Cave			Kenneth Hill, CFA
+1-646-856-8734	+44 (0) 7593-506-719			+1-312-786-7559
atu@cboe.com	tcave@cboe.com			khill@cboe.com

CBOE-OE

Cboe^® and Cboe Global Markets^® are registered trademarks or service marks of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P or the third-party sites referenced in this press release. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice or a recommendation to buy or sell a security, future, or other financial product. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.

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: https://www.cboe.com/us_disclaimers/. 

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.

We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings made from time to time with the SEC.

We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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SOURCE Cboe Global Markets, Inc.

FAQ

What did Cboe (CBOE) announce about Russell 2000 options on Feb 12, 2026?

Cboe announced nearly 24-hour, five-day trading for RUT and RUTW options. According to the company, RUT options now trade across RTH, GTH and Curb Trading Hours to extend access for global investors.

How much did Cboe's Global Trading Hours volume change in 2025 compared to 2024 for CBOE?

Global Trading Hours volume increased by 27% in 2025 versus 2024. According to the company, GTH experienced record volumes amid expanded index options trading.

What portion of Russell 2000 options activity was 0DTE in January for CBOE?

Zero-days-to-expiry (0DTE) accounted for 23% of total RUT activity in January. According to the company, this reflects growing investor use of short-dated strategies in RUT options.

Which other index options are available during Cboe's Global Trading Hours (CBOE)?

Cboe offers SPX, Mini-SPX (XSP) and VIX options during Global Trading Hours. According to the company, these products trade alongside the newly added RUT options in GTH.

How will nearly 24x5 RUT trading affect international investors using CBOE?

Nearly 24x5 trading lets European and Asia Pacific investors trade RUT during local daytime hours. According to the company, this improves ability to manage U.S. small-cap exposure across time zones.

When is Cboe hosting a webinar about expanded RUT trading and how can investors learn more?

Cboe will host a webinar on Feb 25 at 12:30 p.m. ET covering RUT trading expansion and trends. According to the company, registration details are available via its derivatives insights and analysis channels.