RUT - Russell 2000 Index

Russell 2000 Index (RUT).

As of Jul 15, 2026: spot at $2977.90, ATM IV 18.4%, max pain $3010.00, net GEX -$1.48B.

What RUT Looks Like to Options Traders Today

IV rank of 11.6% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); negative net gamma exposure (-$1.48B) means dealers hedge with trend, amplifying realized volatility and accelerating directional moves; the 25-delta skew (0.044) prices calls richer than puts, often reflecting upside speculation or squeeze risk.

What This Page Covers

The RUT overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks.

RUT Methodology and Construction

RUT is a benchmark index covering 2000 small-cap US stocks selected from the bottom segment of the Russell 3000 by market capitalization. The index is market-cap weighted with float adjustment and fully reconstituted annually in June with the Russell reconstitution event, plus quarterly IPO add-ons. The level is computed by the index provider using a published methodology that specifies constituent eligibility, weighting math, rebalance trigger rules, and corporate-action adjustments. RUT is listed on Cboe with European-style, cash-settled options.

RUT Listed Derivative Products

RUT sits at the center of a derivatives ecosystem: RUT (PM-settled monthly), RUTW (weeklies), with futures listed as the E-mini Russell 2000 (RTY) on CME. Settlement on cash-settled index options occurs against the Special Opening Quotation for AM-settled contracts or the closing print for PM-settled contracts. Standard tenors include weekly, monthly, quarterly, and LEAPS cycles. The strike grid is densest around the prevailing index level. Index options carry no individual-name event risk; their implied volatility reflects the weighted-basket volatility of the constituents plus the correlation structure across them.

RUT Related ETF Products

The major ETF wrappers tracking RUT are IWM (iShares Russell 2000) and VTWO (Vanguard Russell 2000). Adjacent small-cap exposure is available via IJR (iShares Core S&P Small-Cap), which tracks the related but distinct S&P SmallCap 600 index. Each carries its own expense ratio, tracking error against the index, and dealer-positioning profile in the listed-options chain. The choice between trading index options and tracking-ETF options is driven by settlement style (European cash-settled vs American share-settled), tax treatment (Section 1256 60/40 treatment for cash-settled index options on US issuers), capital efficiency, and chain liquidity at the desired strike and expiration. Dispersion trades exploit the wedge between index IV and constituent IV - the IV compression that the diversification benefit produces - which tightens when realized correlation rises and widens when correlation falls.

Frequently asked RUT overview questions

What is RUT?

RUT is the listed ticker symbol for Russell 2000 Index, an index. RUT is the index symbol shown on this page; index traders use the level for benchmark performance comparison, options pricing on the index itself (e.g. SPX, NDX, RUT), and as the reference for derivative products that settle to the index.

What does the RUT options snapshot look like today?

As of Jul 15, 2026, the RUT options snapshot shows spot at $2977.90, ATM IV 18.4%, IV rank 11.6%, max pain $3010.00, net GEX -$1.48B, expected move 5.28%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.

How does RUT differ from single-name equity tickers?

Index symbols (SPX, NDX, RUT, VIX, and others) represent benchmark levels rather than tradable shares. Listed options on index symbols are typically European-style and cash-settled, with PM-settlement on the Friday close and AM-settlement on the Friday-morning Special Opening Quotation. Index options carry no individual-name event risk; their implied volatility reflects the volatility of the basket weighted by index weights plus the correlation structure across constituents. Dispersion trading exploits the wedge between index IV and constituent IV.

How current is the RUT data on this page?

The options snapshot above is dated Jul 15, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Index methodology, constituent weights, and rebalancing rules are published by the index provider. Listed options on the index settle to the provider's official Special Opening Quotation or end-of-day level. There is no issuer-level FINRA or SEC reporting on the index itself; constituent-level data is on the individual constituent pages.