Asset Class Navigation

E-mini NASDAQ 100 Options Contract Specs

Options
Contract Unit One quarterly E-mini NASDAQ-100 futures contract ($20 multiplier)
Minimum Price Fluctuation DEFAULT 0.25=$5.00 for premium >5.00
Cab 0.05=$1.00
Reduced Tick 0.05=$1.00 for premium < or =5.00
Trading Hours MON – FRI: 5:00 p.m. previous day – 4:15 p.m.; trading halt from 3:15 p.m. – 3:30 p.m.
Product Code CME Globex: NQ
CME ClearPort: NQ
Clearing: NQ
Listed Contracts Four months in the March Quarterly Cycle (e.g., Mar, Jun, Sep, Dec) Two Serial Months (e.g., Jan, Feb, Apr)
Termination Of Trading CME Globex QUARTERLY:  8:30 a.m. 3rd Friday of the contract month
SERIAL: 4:15 p.m. 3rd Friday of the contract month
DEFAULT 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 CME Position Limits
Exchange Rulebook CME 359A
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval 10-point strike price intervals within ± 30% previous day’s settlement price of the underlying futures
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 NASDAQ 100 Futures

About E-mini NASDAQ 100

Based on the underlying Nasdaq 100 stock index, E-mini NASDAQ 100 futures offer smaller-sized, liquid benchmark contracts to manage exposure to the 100 leading non-financial U.S. large-cap companies that make up the Nasdaq 100. The index is frequently used to manage technology exposure due to its heavy technology sector weighting.