Get ready for a game-changer in the world of trading! Cboe Global Markets is about to revolutionize access to U.S. small-cap equities with a bold move. But here's where it gets controversial... they're extending trading hours for Russell 2000 options to nearly 24 hours a day, five days a week!
This expansion is a significant milestone in Cboe's mission to provide global investors with access to U.S. index options. By offering nearly round-the-clock trading, Cboe empowers market participants to diversify, manage, and hedge their U.S. equity and volatility exposures, covering both small and large caps.
The Russell 2000 Index, a recognized benchmark for U.S. small-cap equities, has historically been more volatile than large-cap measures and sensitive to interest rates. This makes RUT options an attractive tool for trading small-cap volatility and secular trends.
Cboe's decision to extend trading hours is a response to the growing global demand for U.S. equity market exposure. With the addition of an overnight session during Cboe's Global Trading Hours (GTH), RUT options will be available from 8:15 p.m. ET to 9:25 a.m. ET the following morning, Monday through Friday. This expansion is expected to help investors respond to market movements, adjust positions, and manage risk in real time.
And this is the part most people miss... Cboe's GTH sessions have already experienced record volumes in 2025, up 179% year-to-date compared to 2022. This growth highlights the increasing global appetite for U.S. markets and Cboe's commitment to meeting this demand.
Cboe currently offers several flagship index options, including S&P 500 Index (SPX), Mini-SPX (XSP), and Cboe Volatility Index (VIX) options during GTH. The addition of RUT options to this lineup will create more trading, hedging, and liquidity opportunities during the overnight session.
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. Historically, RVX has been higher than the VIX Index, reflecting the unique risk profile of small-cap stocks.
Shawn Creighton, Director of Index Derivatives Solutions at FTSE Russell, emphasizes the excitement surrounding Cboe's decision. "The expanded access will give market participants worldwide greater flexibility to manage risk and capture opportunities as markets move," he said.
Russell 2000 Index (RUT) options and Russell 2000 Index Weeklys (RUTW) options are exclusively listed on Cboe Options Exchange and are cash-settled, European-style options, eliminating the risk of early exercise and the need to deliver or receive unwanted shares.
In addition to GTH hours for RUT options, Cboe proposes to add Curb Trading Hours, an additional session from 4:15 p.m. to 5:00 p.m. ET, Monday through Friday.
So, what do you think about Cboe's bold move? Will it revolutionize global access to U.S. small-cap equities? Share your thoughts in the comments and let's discuss the potential impact and implications of this exciting development!
