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Options on Micro E-mini Standard and Poors 500 Stock Price Index Futures Contract Specs

  • Micro E-mini S&P 500 futures (MES) offer smaller-sized versions of our liquid benchmark E-mini contracts
  • They are designed to manage exposure to the 500 U.S. large-cap stocks tracked by the S&P 500 Index, widely regarded as the best single gauge of the U.S. stock market
  • The Micro E-mini S&P 500 futures contract is $5 x the S&P 500 Index and has a minimum tick of 0.25 index points
  • View delayed data for Micro E-mini S&P 500 futures below for the open, high and low prices and volume for the active contracts
Options
Contract Unit One Micro E-mini S&P 500 futures contract
Minimum Price Fluctuation Regular Tick: 0.25 index points = $1.25 for premium > 5.00 index points = $25.00
Reduced Tick: 0.05 index points = $0.25 for premium at or below 5.00 index points = $25.00
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET) with trading halt 4:15 p.m. - 4:30 p.m
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: MES
CME ClearPort: MES
Clearing: MES
Listed Contracts Contracts listed for 2 consecutive months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
Termination Of Trading Trading terminates at 8:30 a.m. CT on the 3rd Friday of the contract month
Position Limits CME Position Limits
Exchange Rulebook CME 353A
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, 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
Exercise Style American Style
Exercise Procedure American Style. An option can be exercised until 5.30 p.m. CT 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 5:30 p.m. CT 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 Micro E-mini S&P 500 Stock Price Index Futures

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