These options settle into Micro E-mini futures, which are 1/10th the size of E-mini futures and offer the access to the same underlying market. The smaller size enables you to fine-tune your index exposure for greater control over the risk/reward ratio of your investment.
You can build the same market neutral, directional and multi-leg strategies as with equity options, creating more market opportunities. The choice of quarterly, serial, Friday weekly, and end-of-month expirations provides flexibility to manage risk around market events and economic announcements.
If you trade other CME Group Equity Index products, your overall margin payment may be reduced via risk offsets between contracts. And options on Micro E-mini futures also have potentially lower trading costs than a basket of equities or ETFs.
Micro E-mini futures are the most successful product launch in CME Group history, trading nearly 360M as of August, 2020. Options give you more ways to diversify how you take part in these active markets.
Make your trading day a little bit easier with My Portfolio. Keep track of the products you are interested in, such as micro e-mini options with this tool.View trading data and access all your contacts in a single location.
For options on Micro E-mini futures, there are a variety of option expiration dates you could trade for the same futures contract.
Some option expirations align with the expiration of the underlying futures contract (quarterly options). Then there are a variety of shorter-term options listed, like weekly and end-of month (monthly) expirations. These shorter-term options offer greater precision and flexibility to expand their trading strategies.Learn more about the expiration choices
Options on Micro E-mini S&P 500 Futures
Options on Micro E-mini Nasdaq-100 Futures
|Contract Unit||1 MES futures contract||1 MNQ futures contract|
|Minimum Price Fluctuation||
Regular Tick: 0.25 index points = $1.25 for premium above 5.00 index points
Reduced Tick: 0.05 index points = $0.25 for premium at or below 5.00 index points
Regular Tick: 0.25 index points = $0.50 for premium above 5.00 index points
Reduced Tick: 0.05 index points = $0.10 for premium at or below 5.00 index points
5:00 p.m. – 4:00 p.m. CT Sunday – Friday
|Listing Cycle||2 Quarterlies, 3 End-of-Months, 5 Fridays (3 Weeks 1,2 and 4 & 2 Serials)|
Weeklies, EOM: European
100 index point integer multiples, when listed: +30% to -50% of the prior day’s settlement price on the underlying future contract.
50 index point integer multiples, when listed: +20% to -40% of the prior day’s settlement price on the underlying future contract.
10 index point integer multiples, when the underlying future is the second closest contract: +10% to -25% of the prior day’s settlement price on the underlying future contract.
5 index point integer multiples, 35 days prior to expiry (or 5 Weeks): +5% to -15% of the prior day’s settlement price on the underlying future contract.
100 index point integer multiples upon listing: +30% to -50% of the prior day’s settlement price on the underlying future contract
10 index point integer multiples for the nearest three expirations: +10% to -20% of the prior day’s settlement price on the underlying future contract
Learn more about Micro E-mini options and what they can bring to your trading strategies.
In this recorded webinar, David Lerman, Director of Education at CME Group, discusses the trading performance and rise in liquidity of Micro E-mini Equity futures and options and provides his insight on the following: