S&P 500 Options Contract Specs

Contract Unit	One S&P 500 futures contract
Minimum Price Fluctuation	Globex regular tick: 0.10 index points = $25.00 for premium above 5.00 index points Globex reduced tick: 0.05 index points = $12.50 for premium at or below 5.00 index points CPC and Pit regular tick (outrights and spreads): 0.10 index points = $25.00 for premium above 5.00 index points CPC and Pit reduced tick (outrights and spreads): 0.05 index points $12.50 for premium at or below 5.00 index points CAB: 0.05 index points = $12.50
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: SP CME ClearPort: SP Open Outcry: Put: PS Call: CS Clearing: SP
Listed Contracts	Open Outcry: Quarterly contracts (Mar, Jun, Sep, Dec) listed for 8 consecutive quarters CME Globex: Quarterly contracts (Mar, Jun, Sep, Dec) listed for 1 quarter CME Clearport: Quarterly contracts (Mar, Jun, Sep, Dec) listed for 8 consecutive quarters
Termination Of Trading	Open Outcry: 4:15 p.m. ET on Thursday prior to 3rd Friday of the contract month CME Globex: 9:15 a.m. ET on Thursday prior to 3rd Friday of the contract month
Position Limits	CME Position Limits
Exchange Rulebook	CME 351A
Block Minimum	Block Minimum Thresholds
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
Exercise Style	American Options
Exercise Procedure	An option can be exercised until 6:30 p.m. ET 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 6:30 p.m. ET 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	S&P 500 Futures

Contract Unit	One S&P 500 futures contract
Minimum Price Fluctuation	CME ClearPort and Open Outcry:	Regular Tick (Outrights): 0.10 index points = $25.00 when premium is above 5.00 index points Reduced Tick (Outrights): 0.05 index points = $12.50 when premium is at or below 5.00 index points Regular Tick (Spreads): 0.10 index points = $25.00 when premium is above 10.00 index points Reduced Tick (Spreads): 0.05 index points = $12.50 when premium is at or below 10.00 index points
	CME Globex:	Regular Tick: 0.10 index points = $25.00 when premium is above 5.00 index points Reduced Tick: 0.05 index points = $12.50 when premium is at or below 5.00 index points CAB: 0.05 index points = $12.50
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: EV CME ClearPort: EV Open Outcry: EV Clearing: EV
Listed Contracts	Monthly contracts listed for 6 consecutive months
Termination Of Trading	Open Outcry: 4:00 p.m. ET on last business day of the contract month CME Globex: 9:15 a.m. ET on last business day of the contract month
Position Limits	CME Position Limits
Exchange Rulebook	CME 351 A
Block Minimum	Block Minimum Thresholds
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 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
Exercise Procedure	European
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

Contract Unit	One S&P 500 futures contract
Minimum Price Fluctuation	0.10 index points = $25.00 CAB: 0.05 index points = $12.50
Trading Hours	CME Globex:	Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a trading halt from 3:15 p.m. - 3:30 p.m. (4:15 p.m. - 4:30 p.m. ET) and a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
	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: YPB CME ClearPort: YPB Clearing: YPB
Listed Contracts	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 1 quarter
Termination Of Trading	Trading terminates at 3:15 p.m. CT on the Thursday prior to the third Friday of the contract month.
Position Limits	CME Position Limits
Exchange Rulebook	CME 351A
Block Minimum	Block Minimum Thresholds
Price Limit Or Circuit	Price Limits
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	N/A
Exercise Style	European
Settlement Method	Deliverable
Underlying	S&P 500 Futures

Contract Unit	One E-mini S&P 500 futures contract
Minimum Price Fluctuation	CME ClearPort and Open Outcry:	Regular Tick (Outrights): 0.10 index points = $25.00 when premium is above 5.00 index points Reduced Tick (Outrights): 0.05 index points = $12.50 when premium is at or below 5.00 index points Regular Tick (Spreads): 0.10 index points = $25.00 when premium is higher than 10.00 index points Reduced Tick (Spreads): 0.05 index points = $12.50 when premium is at or below 10.00 index points
	CME Globex:	Regular Tick: 0.10 index points = $25.00 when premium is above than 5.00 index points Reduced Tick: 0.05 index points = $12.50 when premium is at or below 5.00 index points CAB: 0.05 index points = $12.50
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: S1A,S2A,S3A,S4A,S5A CME ClearPort: S1A,S2A,S3A,S4A,S5A Open Outcry: S1A,S2A,S3A,S4A,S5A Clearing: S1A,S2A,S3A,S4A,S5A
Listed Contracts	Monday weekly options listed for 4 consecutive weeks.
Termination Of Trading	Trading terminates at 4:00 p.m. ET on Monday of the contract week
Position Limits	CME Position Limits
Exchange Rulebook	CME 351A
Block Minimum	Block Minimum Thresholds
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 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

Contract Unit	One S&P 500 futures contract
Minimum Price Fluctuation	CME ClearPort and Open Outcry:	Regular Tick (Outrights): 0.10 index points = $25.00 when premium is above 5.00 index points Reduced Tick (Outrights): 0.05 index points = $12.50 when premium is at or below 5.00 index points Regular Tick (Spreads): 0.10 index points = $25.00 when premium is above 10.00 index points Reduced Tick (Spreads): 0.05 index points = $12.50 when premium is at or below 10.00 index points
	CME Globex:	Regular Tick: 0.10 index points = $25.00 when premium is above 5.00 index points Reduced Tick: 0.05 index points = $12.50 when premium is at or below 5.00 index points CAB: 0.05 index points = $12.50
Trading Hours	Open Outcry: Monday - Friday: 9:30 a.m. - 4:15 p.m. Eastern Time (ET) 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
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	At any given time, four nearest weeks of EV1, EV2, and EV4 (Weeks 1, 2 & 4) and three nearest weeks of EV3 (Week 3) will be listed for trading
Termination Of Trading	4:00 p.m. ET on Friday of the named 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

Contract Unit	One S&P 500 futures contract
Minimum Price Fluctuation	CME ClearPort and Open Outcry:	Regular Tick (Outrights): 0.10 index points = $25.00 when premium is above 5.00 index points Reduced Tick (Outrights): 0.05 index points = $12.50 when premium is at or below 5.00 index points Regular Tick (Spreads): 0.10 index points = $25.00 when premium is above 10.00 index points Reduced Tick (Spreads): 0.05 index points = $12.50 when premium is at or below 10.00 index points
	CME Globex:	Regular Tick: 0.10 index points = $25.00 when premium is above 5.00 index points Reduced Tick: 0.05 index points = $12.50 when premium is at or below 5.00 index points CAB: 0.05 index points = $12.50
Trading Hours	Open Outcry: Monday - Friday: 9:30 a.m. - 4:15 p.m. Eastern Time (ET) 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
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	Wednesday weekly options listed for 4 consecutive weeks.
Termination Of Trading	4:00 p.m. ET on Wednesday of the named 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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S&P 500 Options Contract Specs

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