S&P 500 WEEKLY OPTIONS - CONTRACT SPECS

Options
Contract Unit 1 S&P 500 futures contract
Minimum Price Fluctuation Outright: 0.10 index points = $25.00 for premium above 5.00
Reduced Tick: 0.05 index points = $12.50 for premium at or below 10.00
CALENDAR SPREAD 0.10 index points = $25.00 for premium above 10.00
CAB 0.05 index points = $12.50
Price Quotation U.S. dollars and cents per index point
Trading Hours CME Globex: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET with a trading halt 9:15 a.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
Open Outcry: Monday - Friday: 9:30 a.m. - 4:15 p.m. ET
Product Code CME Globex: EV1,EV2,EV3,EV4
CME ClearPort: EV1,EV2,EV3,EV4
Open Outcry: EV1,EV2,EV3,EV4
Clearing: EV1,EV2,EV3,EV4
Listed Contracts Weekly contracts (EV1, EV2, EV4) listed for 4 weeks and 3 weeks of EV3
Termination Of Trading Trading terminates at 4:00 p.m. ET on Friday of the contract week
Position Limits CME Position Limits
Exchange Rulebook 351A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits 
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures EV3 (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 (or 5 Weeks):  +5% to -15% of the prior day’s settlement price on the underlying future contract 
 
EV1, EV2 and EV4 (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 4:00 p.m. ET price fixing based on the weighted average traded price fixing (symbol ESF) of the E-mini S&P 500 futures in the last 30 seconds of trading on expiration day (3:59:30 p.m.-4:00:00 p.m. ET) will be used to determine which options are in-the-money. Contrarian instructions are prohibited.
Settlement Method Deliverable
Underlying S&P 500 Futures

About S&P 500 Futures and Options

S&P 500 futures and options offer a capital-efficient means to manage exposure to the leading large –cap companies of the U.S. stock market. Based on the underlying Standard & Poor’s 500 stock index, which is made up of 500 individual stocks representing the market capitalizations of large companies, the S&P 500 Index is a leading indicator of large-cap U.S. equities.

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