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S&P 500 Weekly Options Contract Specs

Options
Contract Unit One S&P 500 futures contract
Minimum Price Fluctuation Globex Regular Tick: 0.10 index points ($25.00) for premium > 5.00 index points ($1,250)

Globex Reduced Tick: 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250)
CPC and Pit Regular Tick (Outrights): 0.10 index points ($25.00) for premium > 5.00 index points ($1,250)
 
CPC and Pit Reduced Tick (Outrights): 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250)
 
CPC and Pit Regular Tick (Spreads): 0.10 index points ($25.00) for premium > 10.00 index points ($2,500)

CPC and Pit Regular Tick (Spreads): 0.05 index points ($12.50) for premium at or below 10.00 index points ($2,500)

CAB: 0.05 index points ($12.50)
Trading Hours Open Outcry: Monday - Friday: 9:30 a.m. - 4:15 p.m. Eastern Time (ET)

CME Globex: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET with a trading halt 9:15 a.m. - 4:30 p.m.

CME Clearport: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET
Product Code CME Globex: EV1,EV2,EV3,EV4
CME ClearPort: EV1,EV2,EV3,EV4
Open Outcry: EV1,EV2,EV3,EV4
Clearing: EV1,EV2,EV3,EV4
Listed Contracts At any given time, four nearest weeks of EV1, EV2, and EV4 (Weeks 1, 2 & 4) and three nearest weeks of EV3 (Week 3) will be listed for trading
Termination Of Trading 4:00 p.m. ET on Friday of the named week
Position Limits CME Position Limits
Exchange Rulebook 351A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits 
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures At all multiples of 25 index points within ±50% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures

At all multiples of 10 index points within ±20% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures

Once the option’s underlying futures contract becomes second nearest to delivery, at all multiples of 5 index points within ±10% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures
Exercise Procedure European Style. Exercisable only on 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. A 4:00 p.m. ET price fixing based on the weighted average traded price fixing (symbol ESF) of the E-mini S&P 500 futures in the last 30 seconds of trading on expiration day (3:59:30 p.m.-4:00:00 p.m. ET) will be used to determine which options are in-the-money. Contrarian instructions are prohibited.
Settlement Method Deliverable
Underlying S&P 500 Futures

About S&P 500

S&P 500 futures and options offer a capital-efficient means to manage exposure to the leading large –cap companies of the U.S. stock market. Based on the underlying Standard & Poor’s 500 stock index, which is made up of 500 individual stocks representing the market capitalizations of large companies, the S&P 500 Index is a leading indicator of large-cap U.S. equities.

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