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

Rhea-AI Summary

Cboe (CBOE) will expand trading hours for Russell 2000 (RUT) options to nearly 24 hours, five days a week beginning Feb 9, 2026. RUT options will trade during Cboe Global Trading Hours from 8:15 p.m. ET to 9:25 a.m. ET Monday–Friday in addition to regular U.S. hours (9:30 a.m. ET–4:15 p.m. ET). Cboe also proposes a Curb Trading Hours session from 4:15 p.m. to 5:00 p.m. ET. Cboe reported record GTH growth in 2025 (up 179% YTD vs 2022) and RUT average daily volume near 75,000 contracts (up 66% vs 2022), positioning RUT options for expanded global trading, hedging, and liquidity opportunities.

Positive

• Nearly 24x5 RUT options trading begins Feb 9, 2026
• Overnight GTH session: 8:15 p.m.–9:25 a.m. ET weekdays
• Curb Trading Hours added: 4:15 p.m.–5:00 p.m. ET
• GTH volumes +179% year-to-date (2025 vs 2022)
• RUT average daily volume ~75,000 contracts (+66% vs 2022)

Negative

• Russell 2000 historically more volatile and interest-rate sensitive

News Market Reaction

-0.18%

1 alert

-0.18% News Effect

On the day this news was published, CBOE declined 0.18%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

RUT GTH start date: February 9, 2026 Overnight session hours: 8:15 p.m. ET–9:25 a.m. ET Regular U.S. hours: 9:30 a.m. ET–4:15 p.m. ET +5 more

8 metrics

RUT GTH start date February 9, 2026 Start of near-24x5 Russell 2000 options trading

Overnight session hours 8:15 p.m. ET–9:25 a.m. ET New Global Trading Hours session for RUT options

Regular U.S. hours 9:30 a.m. ET–4:15 p.m. ET Existing RUT options trading session

GTH volume growth 179% increase Cboe Global Trading Hours volumes YTD 2025 vs full year 2022

RUT ADV Nearly 75,000 contracts Average daily RUT options volume as of end of November

RUT ADV growth 66% increase RUT options ADV vs full year 2022

Curb Trading Hours 4:15 p.m. ET–5:00 p.m. ET Proposed additional RUT trading session

RVX horizon 30-day expected volatility Cboe Russell 2000 Volatility Index measure

Market Reality Check

Price: $264.45 Vol: Volume 605,844 vs 20-day ...

normal vol

$264.45 Last Close

Volume Volume 605,844 vs 20-day average 701,255 (relative volume 0.86) shows no unusual activity ahead of this news. normal

Technical Price 251.32 is trading above the 200-day MA at 233.64, indicating a pre-existing upward longer-term trend.

Peers on Argus

On the day CBOE was down 1.57%, key peers like TRU, FDS, MSCI, and NDAQ showed s...

On the day CBOE was down 1.57%, key peers like TRU, FDS, MSCI, and NDAQ showed small gains (from 0.16% to 1.95%), while MORN fell 1.64%, suggesting stock-specific movement rather than a unified sector trend.

Historical Context

5 past events · Latest: Dec 03 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 03	Volume update	Positive	+0.4%	Reported strong November trading volumes with multiple record ADV metrics.
Dec 02	Product expansion	Positive	-0.2%	Announced near-24x5 trading and curb session for Russell 2000 options.
Dec 02	Conference appearance	Neutral	-0.2%	Scheduled management presentation at Goldman Sachs Financial Services Conference.
Nov 18	New index products	Positive	+0.5%	Launch of Magnificent 10 index futures and options, pending regulatory review.
Nov 17	Crypto futures launch	Positive	-0.2%	Planned listing of Bitcoin and Ether continuous futures with 23x5 trading.

Pattern Detected

Recent Cboe news on product launches and volume growth has more often aligned with modest positive price reactions, though some product-expansion announcements, including this RUT hours extension and crypto futures, saw slight negative divergence.

Recent Company History

Over the last few months, Cboe has focused on expanding derivatives offerings and global access. November 2025 showed strong volume growth across options and equities, with several record ADV metrics (news 943689). The company announced near-24-hour trading for Russell 2000 options starting Feb 9, 2026 (news 943093) and a presentation at a major financial services conference (news 943052). It also launched Magnificent 10 index derivatives (news 937870) and introduced continuous Bitcoin and Ether futures (news 937147), reinforcing a strategy centered on product innovation and extended trading hours.

Market Pulse Summary

This announcement highlighted Cboe’s push to extend Russell 2000 options trading to nearly 24x5 star...

Analysis

This announcement highlighted Cboe’s push to extend Russell 2000 options trading to nearly 24x5 starting February 9, 2026, including a new overnight Global Trading Hours window and proposed curb session. With GTH volumes up 179% versus 2022 and RUT ADV near 75,000 contracts, the company emphasized growing demand for small-cap risk management tools. Investors may track subsequent volume, fee trends, and how these extended hours interact with existing SPX and VIX offerings.

Key Terms

global trading hours, cash-settled, european-style options, implied volatility, +4 more

8 terms

global trading hours technical

"RUT options to trade nearly 24x5 during Cboe's Global Trading Hours"

Global trading hours are the times when stock, bond or commodity markets around the world are open for buying and selling, including the overlaps and after-hours periods created by different time zones. For investors this matters because extended or staggered hours affect when prices move, how easy it is to buy or sell, and how quickly news from one region can influence markets elsewhere—like a 24-hour marketplace where activity shifts as different time zones wake up.

cash-settled financial

"RUT options and Russell 2000 Index Weeklys options are 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

"Russell 2000 Index (RUT) options and Russell 2000 Index Weeklys options are 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.

implied volatility technical

"To track implied volatility for the Russell 2000, Cboe publishes the Cboe Russell 2000 Volatility Index (RVX)"

Implied volatility is the market’s estimate of how much a stock’s price is likely to swing over a given time, inferred from the price of its options rather than from past moves. It matters to investors because higher implied volatility means options cost more and signals greater perceived risk or uncertainty—like a weather forecast predicting stormy conditions—which can affect hedging costs, trade decisions, and expectations about future price movement.

volatility index technical

"Cboe publishes the Cboe Russell 2000 Volatility Index (RVX), a VIX-style measure"

A volatility index measures the market’s expectation of how much stock prices will swing over a short period, based on prices of options. It matters to investors because it acts like a weather forecast for risk: higher readings suggest bigger price swings and more uncertainty, which can influence portfolio decisions, hedging, and trade timing.

realized volatility technical

"Similar to realized volatility measures, RVX has historically been higher than the VIX Index"

Realized volatility is a backward-looking measure of how much an asset’s price actually moved over a past period, usually expressed as the typical size of its day-to-day swings. Investors use it as a factual gauge of historical risk—like checking how bumpy a road has been—to judge whether current prices, risk limits, or trading strategies match real market behavior and to spot when expectations about future swings may be too high or low.

curb trading hours technical

"Cboe proposes to add Curb Trading Hours – an additional trading session"

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

"Cboe currently offers several flagship index options including S&P 500 Index (SPX)"

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.

• Russell 2000® Index (RUT) options to trade nearly 24x5 during Cboe's Global Trading Hours
• Expansion that may allow European and Asia-Pacific traders to more easily manage U.S. small-cap exposure
• Initiative is part of Cboe's ongoing efforts to expand global access to its proprietary U.S. equity index options

CHICAGO, Dec. 2, 2025 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced plans to extend trading hours for its Russell 2000 Index (RUT) options suite to nearly 24 hours a day, five days a week, beginning February 9, 2026.

RUT options are currently available for trading during regular U.S. hours, from 9:30 a.m. ET to 4:15 p.m. ET, Monday through Friday. With the planned addition of an overnight session during Cboe's Global Trading Hours (GTH), RUT options (including the RUT Weeklys options) will also trade from 8:15 p.m. ET to 9:25 a.m. ET the following morning, Monday through Friday. As investors globally increasingly seek to access U.S. equity market exposure, the ability to trade RUT options nearly around the clock is expected to help them respond to market-moving events, adjust positioning, and manage risk with greater precision in real time.

Cboe currently offers several flagship index options including S&P 500 Index (SPX), Mini-SPX (XSP) and Cboe Volatility Index (VIX) options during its GTH session. The addition of RUT options to GTH will expand this lineup, giving investors even more tools to access U.S. equity large cap, small cap and global equity market exposure – ultimately, potentially creating more trading, hedging, and liquidity opportunities during this overnight trading session.

Demand for overnight trading is evident in the growth of Cboe's GTH sessions, which have experienced record volumes in 2025, up 179% year-to-date compared to full year 2022 as global appetite for U.S. markets has grown and Cboe expands its product availability to meet this demand.

"Extending trading hours for Cboe's Russell 2000 Index product suite will be another significant milestone in our efforts to expand access to U.S. index options for investors worldwide," said Rob Hocking, Global Head of Derivatives at Cboe. "With nearly round-the-clock availability, Cboe will help empower market participants to further diversify, manage and hedge their U.S. equity and volatility exposures–covering both small caps and large caps–at their discretion. We look forward to continuing to collaborate with FTSE Russell to deliver meaningful solutions to our growing global customer base."  

The Russell 2000 Index measures the performance of U.S. small-cap equities across sectors and has long served as a barometer of small-cap performance. As of the end of November, average daily volume in Cboe's RUT options has grown to nearly 75 thousand contracts, up 66% compared to full year 2022, as more traders look to manage risk and implement daily options strategies. The Russell 2000 Index has historically been more volatile than large-cap measures and more sensitive to interest rates – making RUT options a potentially effective tool to trade small-cap volatility and secular trends.

To track implied volatility for the Russell 2000, Cboe publishes the Cboe Russell 2000 Volatility Index (RVX), a VIX-style measure of 30-day expected volatility. Similar to realized volatility measures, RVX has historically been higher than the VIX Index, reflecting the unique risk profile of small-cap stocks.

"Cboe's decision to offer nearly 24-hour trading for Russell 2000 options is an exciting development for global investors," said Shawn Creighton, Director of Index Derivatives Solutions at FTSE Russell. "The Russell 2000 Index is a recognized benchmark for U.S. small-cap equities, and expanded access will give market participants worldwide greater flexibility to manage risk and capture opportunities as markets move."

Exclusively listed on Cboe Options Exchange, Russell 2000 Index (RUT) options and Russell 2000 Index Weeklys (RUTW) options are cash-settled, European-style options, meaning there is no risk of early exercise and no need to deliver or receive unwanted shares. Cboe offers a range of expirations—including every weekday, end-of-month, and quarterly—allowing investors to implement a diverse range of trading strategies.

In addition to offering GTH hours for RUT options, Cboe proposes to add Curb Trading Hours – an additional trading session that will run from 4:15 p.m. to 5:00 p.m. ET, Monday through Friday.

For more information on Russell 2000 Index options, visit RUT Index Options.

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 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 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 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, counterparty, investment, 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; our ability to maintain BIDS Trading as an independently managed and operated trading venue, separate from and not integrated with our registered national securities exchanges; 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

When will Cboe (CBOE) start nearly 24-hour trading for Russell 2000 (RUT) options?

Nearly 24x5 trading for RUT options begins on Feb 9, 2026.

What are the overnight Cboe Global Trading Hours for RUT options (CBOE)?

RUT options will trade overnight from 8:15 p.m. ET to 9:25 a.m. ET, Monday–Friday.

How could extended RUT hours affect liquidity and hedging for CBOE traders?

Extended hours aim to increase global access, potentially creating more trading, hedging, and liquidity opportunities overnight.

What is Cboe's reported GTH growth supporting the RUT hours expansion?

Cboe reported GTH volumes up 179% year-to-date in 2025 versus full year 2022.

How large is current Russell 2000 options average daily volume on CBOE?

Average daily volume in RUT options is nearly 75,000 contracts, up 66% versus full year 2022.

Will RUT options listed on CBOE be European-style and cash-settled?

Yes; RUT and RUT Weeklys are cash-settled, European-style options with multiple expirations.