E-MINI S&P 500 OPTIONS - CONTRACT SPECS

    Please be advised that effective Sunday, June 6, 2021 for trade date Monday, June 7, 2021, changes will be applied to the E-mini S&P 500 Stock Price Index Futures and Related Options Contracts. Please refer to SER #8776 to access these changes.

Options
Contract Unit 1 E-mini S&P 500 futures contract
Minimum Price Fluctuation Reduced Tick: 0.05 index points = $2.50 for premium at or below 5.00
Outright: 0.25 index points = $12.50 for premium above 5.00
CAB 0.05 index points = $2.50
Price Quotation U.S. dollars and cents per index point
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. ET (5:00 p.m. - 4:00 p.m. CT) with a daily trading halt from 4:15 p.m. - 4:30 p.m. ET
CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Product Code CME Globex: ES
CME ClearPort: ES
Clearing: ES
Listed Contracts Quarterly contracts (Mar, Jun, Sep, Dec) listed for 9 consecutive quarters and 3 additional December contract months.
Termination Of Trading Trading terminates at 9:30 a.m. ET on the 3rd Friday of the contract quarter.
Position Limits CME Position Limits
Exchange Rulebook CME 358 A
Price Limit Or Circuit Price Limits 
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures 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, 366 days prior to expiry (1 calendar year):  +20% to -40% of the prior day’s settlement price on the underlying future contract

10 index point integer multiples, 186 days prior to expiry (6-months prior to expiration):  +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.

 Dynamic strike allowed at 5.
Exercise Procedure American Style. An option can be exercised until 6:30 p.m. ET on any business day the option is traded
Settlement At Expiration Option exercise results in a position in the underlying cash-settled futures contract. In-the-money options, in the absence of contrarian instructions delivered to the Clearing House by 6:30 p.m. ET on the day of expiration, are automatically exercised into expiring cash-settled futures, which settle to the SOQ calculated the morning of the 3rd Friday of the contract month.
Settlement Method Deliverable
Underlying E-mini S&P 500 Stock Price Index Futures

About E-mini S&P 500

An electronically traded futures contract one fifth the size of standard S&P futures, E-mini S&P 500 futures and options are based on the underlying Standard & Poor’s 500 stock index. 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. 

Welcome to E-mini S&P 500 Futures

Whether you are a new trader looking to get started in futures, or an experienced trader looking to expand your exposure to the U.S. stock market, E-mini S&P 500 futures provide you with the opportunity you need.

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