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 |
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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: MESCME ClearPort: MESClearing: 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 |
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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 |