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E-mini S&P 500 Options Contract Specs

Options
Contract Unit One E-mini S&P 500 futures contract
Minimum Price Fluctuation OUTRIGHT 0.25=$12.50 for premium >5.00
CAB 0.05=$2.50
REDUCED TICK 0.05=$2.50 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: ES
CME ClearPort: ES
Clearing: ES
Listed Contracts Four months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
Three Serial Months (i.e., Jan, Feb, Apr)
Termination Of Trading CME Globex (Electronic Platform) QUARTERLY:  8:30 a.m. / 3rd Friday of the contract month
SERIAL: 4:15 p.m. / 3rd Friday of the contract month
DEFAULT QUARTERLY:  8:30 a.m. / 3rd Friday of the contract month
SERIAL: 4:15 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 CME Position Limits
Exchange Rulebook CME 358 A
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval 25-point intervals within ± 50% previous day’s settlement price of the underlying futures
10-point intervals within ± 20% previous day’s settlement price of the underlying futures
Once the contract becomes the second nearest contract, 5-point intervals within ± 10% previous day’s settlement price of the underlying futures will be available

Strike Listing: 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 S&P 500 Futures