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E-mini Dow ($5) Options Contract Specs

Options
Contract Unit One E-mini Dow ($5) futures contract
Minimum Price Fluctuation 1.00=$5.00
Reduced Tick: Option Premium ≤ $4.00, may be traded in $1.00 increments per option contract, i.e. at $1.00, $2.00, $3.00 or $4.00
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. New York Time/ET (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with 15-minute trading halt Monday – Friday 4:15 p.m. - 4:30 p.m. New York time/ET (3:15 p.m. - 3:30 p.m. Chicago Time/CT). Monday - Thursday 5:00 p.m. - 6:00 p.m. New York Time/ET (4:00 p.m. - 5:00 p.m. Chicago Time/CT) daily maintenance period.
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. New York time/ET (5:00 p.m. - 4:00 p.m. Chicago Time/CT).  Monday - Thursday 5:00 p.m. - 6:00 p.m. New York Time/ET (4:00 p.m. - 5:00 p.m. Chicago Time/CT) daily maintenance period.
Product Code CME Globex: OYM
CME ClearPort: YM
Clearing: YM
Listed Contracts Four months in the March Quarterly Cycle (e.g., Mar, Jun, Sep, Dec)
July 2016 American Style Serial Options currently listed, will expire as regularly scheduled. No new American Style Serial option months will be listed upon expiration of these option contracts. Serial months will be replaced with Week 3 European style options
 
Termination Of Trading QUARTERLY:  8:30 a.m. 3rd Friday of the contract month
SERIAL: 4:00 p.m. 3rd Friday of the contract month

An option can be exercised until 7:00 p.m. on any business day the option is traded.
QUARTERLY OPTIONS - Unexercised in-the-money options will be automatically exercised at 7:00 p.m. on the day of determination of the Final Settlement Price.
SERIAL OPTIONS - Unexercised in-the-money options will be automatically exercised at 7:00 p.m. on Serial Option expiration day.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 27A
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval 500-point intervals within ± 50% previous day’s settlement price of the underlying futures 100-point intervals within ± 20% previous day’s settlement price of the underlying futures 50-point intervals within ± 10% previous day’s settlement price of the underlying futures for the two nearest quarterly cycle month options. Exercise prices for serial options shall be identical to the exercise prices that are listed for the March quarterly options on the same underlying futures contract

Strike Listings: All strike intervals
Exercise Procedure American Style
Settlement At Expiration Option exercise results in a position in the underlying cash-settled Futures contract. Options which are in-the-money on the last day of trading are automatically exercised.
In-the-money QUARTERLY OPTIONS, in the absence of contrary instructions delivered to the Clearing House by 7:00 p.m. on the day of the expiration, are exercised automatically into expiring cash-settled futures, which settle to the SOQ calculated the morning of the 3rd Friday of the contract month.
In-the-money SERIAL OPTIONS, in the absence of contrary instructions delivered to the Clearing House by 7:00 p.m. on the day of the expiration, shall be exercised automatically on serial option expiration day.
Settlement Method Deliverable
Underlying E-mini Dow ($5) Futures

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