E-mini S&P 400 Options Contract Specs
| Contract Unit | One E-mini S&P MidCap 400 futures contract | ||||
| Minimum Price Fluctuation | Outright: | 0.05=$5.00 | |||
| CAB | 0.025=$2.50 | ||||
| Trading Hours | CME Globex: | Sunday - Friday 6:00 p.m. - 5:00 p.m. New York Time/ET (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with 15-minute trading halt Monday – Friday 4:15 p.m. - 4:30 p.m. New York time/ET (3:15 p.m. - 3:30 p.m. Chicago Time/CT). Monday - Thursday 5:00 p.m. - 6:00 p.m. New York Time/ET (4:00 p.m. - 5:00 p.m. Chicago Time/CT) daily maintenance period. | CME ClearPort: | Sunday - Friday 6:00 p.m. - 5:00 p.m. New York time/ET (5:00 p.m. - 4:00 p.m. Chicago Time/CT). Monday - Thursday 5:00 p.m. - 6:00 p.m. New York Time/ET (4:00 p.m. - 5:00 p.m. Chicago Time/CT) daily maintenance period. | |
| Product Code | CME Globex: EMDCME ClearPort: MEClearing: ME | ||||
| Listed Contracts | Four months in the March Quarterly Cycle (Mar, Jun, Sep, Dec) | ||||
| Termination Of Trading | CME Globex: | QUARTERLY: 8:30 a.m. / 3rd Friday of the contract month | |||
| Default: | 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. |
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| Position Limits | CME Position Limits | ||||
| Exchange Rulebook | CME 362A | ||||
| Price Limit Or Circuit | Price Limits | ||||
| Vendor Codes | Quote Vendor Symbols Listing | ||||
| Strike Price Listing Procedures | 5-point intervals within ± 20% previous day’s settlement price of the underlying futures. Once the contract becomes the second nearest cycle month contract, 2.5-point intervals within ± 15 Index points of previous day’s settlement price of the underlying futures. Exercise prices for serial options shall be identical to the exercise prices that are listed for the March quarterly options on the same underlying futures contract Strike Listing: All strike intervals |
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| Exercise Procedure | American Style. 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. |
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| 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. |
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| Settlement Method | Deliverable | ||||
| Underlying | E-mini S&P MidCap 400 Futures | ||||
About E-mini S&P MidCap 400 futures
Electronically traded E-mini S&P MidCap 400 futures trade at a portion of the standard contract size, allowing for an accessible and flexible means to manage exposure to the underlying index. The S&P MidCap 400 is a value-weighted index that provides investors with a benchmark for mid-sized companies from all major industries.
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