How to Trade Nano Index Options

Even the best strategy can fall short if you don’t start from the right position.

In other words — before trading Nanos, it’s important to begin with the right foundation. There’s a lot to know, but here are five key steps to help you get started.

1. Locate Nanos on Your Trading Platform

To begin, find Nanos options on your trading platform.

They trade under the ticker NANOS and are based on the S&P 500 Index*.

2. Select a Trading Strategy

Next, define your trading objective. Ask yourself: What’s my goal with this trade?

The S&P 500 Index behaves differently than individual stocks, so it’s important to be clear about your market outlook and how your Nanos trade aligns with that perspective. Consider whether your strategy fits current market conditions and your comfort with risk.

3. Choose Your Contract, Strike, and Expiration

Once you’ve outlined your approach, it’s time to choose the details that fit your strategy:

• Call or put
• Contract price
• Strike price
• Expiration date

Each element should align with your overall trading plan and time horizon.

4. Execute Your Trade

If your strategy calls for buying Nanos, this is when you’ll place the order.

Once the contract reaches expiration, you’ll be able to see how your strategy performed relative to market movement and your expectations.

5. Review and Adjust Your Approach

After executing your first trade, take time to review your results.

Continue refining your approach and exploring new ways to incorporate Nanos into your broader trading plan. Over time, this process can help you build confidence and a deeper understanding of how Nanos fit into your overall market strategy.

^{*Nanos trade on Cboe as a $1 multiplier option (versus a $100 multiplier for standard options) on the Mini-S&P 500 Index, which is 1/10th the value of the S&P 500 Index.}

^{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/. These products are complex and are suitable only for sophisticated market participants. In certain jurisdictions, Cboe Company products are only permitted for investment professionals, certified sophisticated investors, or high net worth corporations and associations. These products involve the risk of loss, which can be substantial and, depending on the type of product, can exceed the amount of money deposited in establishing the position. Market participants should put at risk only funds that they can afford to lose without affecting their lifestyle. © 2025 Cboe Exchange, Inc. All Rights Reserved.}