S&P 500 WEDNESDAY WEEKLY OPTIONS - CONTRACT SPECS

    Please be advised that effective Sunday, June 6, 2021 for trade date Monday, June 7, 2021, changes will be applied to the E-mini S&P 500 Stock Price Index Futures and Related Options Contracts. Please refer to SER #8776 to access these changes.

Options
Contract Unit 1 S&P 500 futures contract
Minimum Price Fluctuation Reduced Tick: 0.05 index points = $12.50 for premium at or below 10.00
Outright: 0.10 index points = $25.00 for premium above 5.00
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. Eastern Time (ET)
Product Code CME Globex: S1C,S2C,S3C,S4C,S5C
CME ClearPort: S1C,S2C,S3C,S4C,S5C
Open Outcry: S1C,S2C,S3C,S4C,S5C
Clearing: S1C,S2C,S3C,S4C,S5C
Listed Contracts Weekly contracts listed for 4 consecutive weeks
Termination Of Trading Trading terminates at 4:00 p.m. ET on Wednesday of the contract week
Position Limits CME Position Limits
Exchange Rulebook CME 351A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limit or Circuit Breaker
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 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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