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S&P 500 Options
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Type
 
S&P 500 Options
Opening Date 1/28/1983
Ticker Symbol CS (Calls)
PS (Puts)
SP= Clearing
View product and vendor codes
Contract Size One S&P 500 futures contract
Strike Price Intervals Deferred months: 25-point intervals and 10-point intervals. Once the contract becomes the second nearest contract, 5-point intervals will be available
Tick Size (minimum fluctuation) OUTRIGHT 0.10=$25.00 for premium >5.00
HALF TICK 0.05=$12.50 for premium < or =5.00
CAB 0.05=$12.50
Trading Hours
All time listed are Central Time		 Open Outcry MON-FRI: 8:30 a.m. -3:15 p.m.
CME Globex  (Electronic Platform) MON-THURS: 3:30 p.m.-8:15 a.m. 
(daily maintenance shutdown from 4:30 p.m.-5:00 p.m.)
SUN: 5:00 p.m.-8:15 a.m.
Contract Months Open Outcry Eight months in the March Quarterly Cycle (Mar, Jun, Sep, Dec) Three Serial Months (i.e., Jan, Feb, Apr)
CME Globex One month in the March Quarterly Cycle (Mar, Jun, Sep, Dec) Three Serial Months (i.e., Jan, Feb, Apr)
Last Trade Date/Time
View Calendar		 Open Outcry QUARTERLY:  3:15 p.m. / Thursday prior to 3rd Friday of the contract month
SERIAL: 3:15 p.m. / 3rd Friday of the contract month
CME Globex (Electronic Platform) QUARTERLY: 8:15 a.m. / Thursday prior to 3rd Friday of the contract month
SERIAL: 8:15 a.m. / 3rd Friday of the contract month
Strike Listing Open Outcry All strikes interval
CME Globex (Electronic Platform) 12 strikes up & down, and including the strike nearest the money
Exercise Procedure American Style.
Expiration Date An option can be exercised until 7:00 p.m. on any business day the option is traded. Unexercised in-the-money options will be automatically exercised at 7:00 p.m. on day of determination of the Final Settlement Price.
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 are exercised 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 are exercised into futures at their strike prices at 3:15 p.m. on the 3rd Friday of the contract month.
Daily Price Limits RTH:  Successive 10%, 20%, 30% limits (downside only)
ETH (overnight):  5% up or down
View price limits details.
Position Limits 20,000 futures equivalent contracts net on same side of the market in all contract months combined
Block Trade Eligibility Yes. View more on block-trade eligibile contracts.
Block Minimum 250 contracts
Rulebook Chapter 351A
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.