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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 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 5:00 p.m. - Friday - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT
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: EX1,EX2,EX3,EX4
CME ClearPort: EX1,EX2,EX3,EX4
Clearing: EX1,EX2,EX3,EX4
Listed Contracts At any given time, three nearest weeks of EX1, EX2, and EX4 (Weeks 1, 2 & 4) and two nearest weeks of EX3 (Week 3) will be listed for trading
Termination Of Trading Trading terminates at 3:00 p.m. CT on the Last Business Day 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 EX3 (Week 3)
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 listed:  +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:  +5% to -15% of the prior day’s settlement price on the underlying future contract 

EX1, EX2 and EX4 (Week 1, 2 & 4)
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 listed:  +10% to -25% of the prior day’s settlement price on the underlying future contract
5 index point integer multiples, when listed:  +5% to -15% of the prior day’s settlement price on the underlying future contract 
Exercise Procedure European Style. Exercisable only on expiration day.
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. A 3:00 p.m. CT price fixing based on the weighted average traded price fixing (symbol ESF) of the E-mini Standard and Poor’s 500 Stock Price Index Futures in the last 30 seconds of trading on expiration day (2:59:30 p.m.- 3:00:00 p.m. CT) will be used to determine which options are in-the-money. Contrarian instructions are prohibited.
Settlement Method Deliverable
Underlying Micro E-mini S&P 500 Stock Price Index Futures

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