Micro E-mini options

Micro-sized options, major equity benchmarks.
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More options to trade S&P 500 and Nasdaq-100

Building on the strength and liquidity of Micro E-mini futures, we have launched options on Micro E-mini futures on the S&P 500 and Nasdaq-100 indices. Add the flexibility of options to the precision of using smaller notional contracts to manage equity index exposure.

Key Features

Trade with more precision

Scale S&P 500 and Nasdaq-100 index exposure up or down with greater granularity from underlying contracts 1/10th the size of E-mini products. More precision can provide additional control over the risk/reward ratio of your trading strategies.

Add versatility to strategy building

Express long- or short-term views with a choice of quarterly, Friday weekly, and end-of-month expirations. Build market neutral, directional, and/or multi-leg strategies to seek new opportunities in the equity markets.

Access Micro E-mini futures liquidity

With a lower premium related to the contract size, these options settle into liquid Micro E-mini futures. These contracts have traded more than 360 contracts as of August 2020.

Learn more about Micro E-mini options

Explore Micro E-mini options, and discover what they can bring to your trading strategy.

    Contract Specs

      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
    Trading Hours CME Globex:
    Sunday – Friday 5:00 p.m. – 4:00pm CT with a trading halt from 3:15 p.m. – 3:30 p.m. CT
    Product Code Quarterly: MES, EOM: EX, Weekly: EX1-EX4 Quarterly: MNQ, EOM: MQE, Weekly: MQ1-MQ4  
    Listing Cycle 2 Quarterlies, 3 End-of-Months, 5 Fridays (3 Weeks 1, 2 and 4 & 2 Serials)
    Options Style Quarterly: American Weeklies, EOM: European
    Strike Interval 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  

    These specifications are subject to change and all relevant regulatory approvals.

    More on Micro E-mini options

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    Fact card

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