Index options are a popular financial instrument among traders, offering a way to gain exposure to entire indices without having to purchase individual stocks or ETFs that attempt to replicate the index. They are essential tools for hedging and speculating on market movements.
This blog post aims to provide a comprehensive list of index option tickers available on American options exchanges. Option tickers do not always use the same root symbol as the index itself. See our blog post on how to read an option symbol to learn how options tickers are constructed using the root symbol, expiration date, side, and strike price.
List of Index Option Root Symbols
| Index Name | Underlying Index Symbol | Option Root Symbols | Market Data Underlying Symbol |
|---|---|---|---|
| CBOE Volatility Index | VIX | VIX, VIXW | VIX |
| MSCI ACWI Index | MXACW | MXACW | MXACW |
| MSCI World Index | MXWLD | MXWLD | MXWLD |
| MSCI USA Index | MXUSA | MXUSA | MXUSA |
| MSCI Emerging Markets Index | MXEF | MXEF | MXEF |
| MSCI EAFE Index | MXEA | MXEA | MXEA |
| Dow Jones Industrial Average | DJI | DJX | DJX |
| Russell 1000 | RUI | RUI | RUI |
| Russell 2000 | RUT | RUT, RUTW | RUT |
| Micro Russell 2000 | RUT | MRUT | MRUT |
| S&P 100 | OEX | OEX | OEX |
| S&P 100 (European Exercise) | OEX | XEO | XEO |
| S&P 500 | SPX | SPX, SPXW | SPX |
| Mini S&P 500 | XSP | XSP | XSP |
| Mini S&P 500 | XSP | XSP | XSP |
| S&P ESG Index | SPESG | SPESG | SPESG |
| Nasdaq-100 Micro Index | XND | XND | XND |
What Isn’t Included in this List
The following list includes all known index option root symbols that are currently traded. In the past, root symbols such as SPXPM and SPXQ were used for PM and quarterly expirations, but are no longer in use.
The list also excludes options that have an ETF as the underlying, such as SPY, QQQ, or IWM. Even though the underlying ETF tracks an index, these options are technically not index options, are not cash-settled, and do not qualify as section 1256 contracts.
Using Market Data With Index Option Chains
When using the Market Data API or Google Sheets Add-on, use the underlying symbol from the Market Data Underlying Symbol column to query a combined option chain for each index. On indices such as S&P 500, VIX, and RUT where there are multiple underlying symbols, Market Data will combine both option chains and present the entire combined option chain in the output.
This practice is in-line with the standard option chain presentation in most retail discount brokers and we’ve found our customers have come to expect this.
