Micro E-mini options
Micro-sized options, major equity benchmarks.
Now Trading
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.
Trading resources
Enjoy greater precision and versatility in managing short-term exposure with Micro E-mini S&P 500 and Nasdaq 100 Monday-Thursday options, which complement the existing Friday, end-of-month, and quarterly options.
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 weekly (Monday through Friday), end-of-month, and quarterly 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 1.8M contracts daily in 2022.
| 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 |
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| Product Code | Monday Weekly: X1A-X5A Tuesday Weekly: X1B-X5B Wednesday Weekly: X1C-X5C Thursday Weekly: X1D-X5D Friday Weekly: EX1-EX4 EOM: EX Quarterly: MES |
Monday Weekly: D1A-D5A Tuesday Weekly: D1B-D5B Wednesday Weekly: D1C-D5C Thursday Weekly: D1D-D5D Friday Weekly: MQ1-MQ4 EOM: MQE Quarterly: MNQ |
| Listing Cycle | European Style, PM Expiring Options: 1 Monday, Tuesday, Wednesday, and Thursday Option 3 Friday Week 1,2, and 4 Options 6 Friday Week 3 Options (S&P 500) 3 Friday Week 3 Options (Nasdaq-100) American Style, AM Expiring Options: 2 Quarterly Options (Mar, Jun, Sep, Dec cycle) |
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| Options Style | Monday-Friday Weekly Options and EOM Options: European Quarterly AM Expiry Options: American |
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| Strike Interval | 100 index point integer multiples, when listed: +30% to -80% of the prior day’s settlement price on the underlying future contract 10 index point integer multiples, 96 days prior to expiration of the option: +10% to -20% of the prior day’s settlement price on the underlying future contract 5 index point integer multiples, 10 days prior to expiration of the option: +5% to -10% of the prior day’s settlement price on the underlying future contract |
500 index point integer multiples, when listed: +30% to -80% of the prior day’s settlement price on the underlying future contract 50 index point integer multiples, 35 days prior to expiration of the option: +10% to -20% of the prior day’s settlement price on the underlying future contract 10 index point integer multiples, 5 days prior to expiration of the option: +5% to -10% of the prior day’s settlement price on the underlying future contract |
Get answers to frequently asked questions about options on Micro E-mini futures, including product details and margin information.
Increase your knowledge about options on futures trading with this curriculum.
Micro E-mini Options: The Next Chapter
Watch an on-demand webinar on Micro options to review contract specs, basic options fundamentals, the advantages of trading Micro E-mini options vs. ETFs, and much more.
View a summary and contract specifications that you can download, share, and print.
Read our whitepaper on recent activity in Micro E-mini futures and options trading and see how the new options contracts can help manage risk around significant market events.
Micro E-mini options offer timely expiration to manage risk. Use the OI heatmap to track where positions are concentrated.
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