OPTIONS ON MICRO E-MINI STANDARD AND POORS 500 STOCK PRICE INDEX FUTURES - CONTRACT SPECS
| 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 |
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| 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,EX4CME ClearPort: EX1,EX2,EX3,EX4Clearing: 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 |
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| 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 | ||||
- 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
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