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E-mini S&P 500 Options Contract Specs

Options
Opening Date 9/9/1997
Ticker Symbol ES
ES= Clearing
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Contract Size One E-mini S&P 500 futures contract
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
Tick Size (minimum fluctuation) OUTRIGHT: 0.25=$12.50 for premium >5.00
REDUCED TICK: 0.05=$2.50 for premium < or =5.00
CAB: 0.05=$2.50
Trading Hours
All time listed are Central Time
CME Globex MON – FRI: 5:00 p.m. previous day – 4:15 p.m.; trading halt from 3:15 p.m. – 3:30 p.m.
Contract Months Four months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
Three Serial Months (i.e., Jan, Feb, Apr)
Last Trade Date/Time
View Calendar
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
Strike Listing CME Globex (Electronic Platform) All strike intervals
Exercise Procedure American Style.
Expiration Date Procedure 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.
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.
Daily Price Limits Option trading is not permitted during trading halts due to price limit events.
View price limits details.
Position Limits See: CME Rulebook Chapter 5 - POSITION LIMIT, POSITION ACCOUNTABILITY AND REPORTABLE LEVEL TABLE
Block Trade Eligibility No. View more on block-trade eligible contracts.
Block Minimum N/A
Rulebook Chapter 358 A
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.

Futures & Options Trading

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