Mini Russell 2000 Index options

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On the equity options side, the CBOE, International Securities Exchange and PHLX all list cash-settled Mini-Russell 2000 Index options (RMN). These contracts are based on 1/10 of the full-sized Russell 2000 Index options (RUT) offered on all six U.S. options exchanges.[1].

The index itself is designed to measure the performance of the bottom 2,000 companies from a universe of the 3,000 largest stocks in the U.S. This index is capitalization-weighted and includes only common stocks belonging to corporations domiciled in the U.S. and its territories that are traded on the NYSE, NASDAQ or AMEX. The Russell 2000 Index is adjusted once per year, in June, to reflect changes in rankings and shares outstanding.

Because these contracts are fungible, contract specifications at these exchanges mirror one another.


Mini Russell 2000 Index futures
Exchange CBOE
Settlement Cash settled
Pricing Unit Need pricing unit!
Tick Value Need tick value!
Contract Months Need contract months!
Last Trading Day Need LTD rules!
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A N/A
Ticker Symbol N/A N/A
Price Limits N/A N/A
 
Mini Russell 2000 Index options
Trade Unit One futures contract
Point Value Need point value!
Tick Value The minimum trading increment for an options contract trading at less than $3.00 is $0.05. The minimum trading increment for an options contract trading at $3.00 or higher is $0.10.
Option Months Up to three near-term months followed by three additional months from the March quarterly cycle (March, June, September and December).
Strike Prices Strike price intervals are at least $2.50 for certain near-the-money series in near-term expiration months when Russell 2000 Index is at a level below 200, and 5 point strike price intervals for other options series with expirations up to one year, and at least 10 point strike price intervals for longer-term options.
Exercise Style European
  No Open Outcry Electronic
Trading Hours N/A 9:30 A.M. - 4:15 P.M. Eastern Time (New York time).
Ticker Symbol N/A RMN
Price Limits N/A The aggregate position and exercise limits are 50,000 Full Value contracts on the same side of the market with no more than 30,000 in the near-term month. 10 Reduced Value contracts are the equivalent to 1 Full Value contract. An index option hedge exemption for public customers may be available for certain diversified portfolios, which may expand the position limit up to an additional 75,000 contracts. In addition, proprietary accounts of members may receive an exemption up to 100,000 contracts for the purpose of facilitation public customer orders. Position and Exercise limits are subject to change.

Index Multiplier : 100

Resources

Chicago Board Options Exchange [[1]]

International Securities Exchange [[2]]

Philadelphia Stock Exchange [[3]]

References

  1. "Directory of Listed Products”. www.occ.com.