Mini-Russell 2000 Index Options are exchange-traded European exercise cash settled options contracts based on 1/10th the value of the Russell 2000 Index (RUT). The index is capitalization-weighted and includes only common stocks belonging to corporations domiciled in the US and its territories and traded on the NYSE, NASDAQ or the AMEX. The Russell 2000 Index is adjusted once per year, in June, to reflect changes in rankings and shares outstanding
The Mini-RUT Index (MRUT) is based on 1/10th the value of the Russell 2000 Index (RUT).
Regular Hours: 8:30 a.m. to 3:15 p.m. (Chicago)
MRUT Weekly options may be listed that expire on a Monday, Wednesday, or a Friday. Quarterly MRUT options expire on the last business day of a calendar quarter.
Exercise (Strike) Price Intervals:
The minimum strike price interval MRUT options is $0.50.
Minimum Price Intervals:
Minimum tick for options trading is 0.01 ($1.00)
Dollar Value Per Tick:
$1.00 per 0.01 points (100 multiplier)
European. MRUT Index Options may be exercised only on the expiration date.
Expiration Date & Last Trading Day:
Standard MRUT options expire on the third Friday of the expiration month or the immediately preceding business day if the Exchange is not open on that Friday. MRUT Weekly options expire on a Monday, Wednesday, or a Friday. If the Exchange is not open on a Wednesday or Friday, the normally expiring Wednesday or Friday Weekly will expire on the immediately preceding business day. If the Exchange is not open on a Monday, the normally expiring Monday MRUT Weekly will expire on the first business day immediately following that Monday. Quarterly MRUT options expire on the last business day of the calendar quarter.
Last Trading Day:
Trading in MRUT options will ordinarily cease on their exercise-settlement value is calculated. On their last trading day, trading in expiring options closes at 4:00 p.m. ET.
Exercise will result in delivery of cash on the business day following expiration. The exercise settlement value, MRUT, is one-tenth (1/10th) the official closing price of the Russell 2000 Index on the last trading day of the expiring series. The exercise settlement amount is equal to the difference between the exercise-settlement value and the exercise price of the option, multiplied by $100.
Position AND Exercise Limits:
There are no position or exercise limits for MRUT options. See Cboe Options Rules 8.31 and 8.42.