Weekly Options on Futures

More Expirations for More Precise Trading and Risk Management

Traders turn to the precision of CME Group’s weekly expiring options to enhance existing positions or to lay off risk and capture trading opportunities around market-moving events, like Sunday elections, Wednesday FOMC meetings and Friday Unemployment reports.

Benefits and Applications

Deep liquidity across all six major asset classes
Event-driven trading throughout the week
Trade gamma and capture arbitrage opportunities
Strengthen existing positions for short-term market fluctuations
Add to a futures hedge to capture opportunity with defined risk
Access optionality over the entire term structure
Pay less in premiums due to less time covered

Growing Liquidity

Product Codes

Contract	Weekly Expiry	CME Globex	Bloomberg	Reuters
Equity Options
E-mini S&P 500	Monday	E1A-E5A	IWWA Index	0#1AEW+
	Wednesday	E1C-E5A	IEWA Index	0#ECW+
	Friday	EW1-EW4	1EA Index - 4EA Index	0#ESW+
Standard S&P 500	Monday	S1A-S5A	SVPWA Index	0#1ASW+
	Wednesday	S1C-S5C	SPWA Index	0#SCW+
	Friday	EV1-EV4	1DA Index - 4DA Index	0#EVW+
E-mini NASDAQ-100	Friday	QN1, QN2, QN4	10A Index, 20A Index, 4OA Index	0#1NQW+
E-mini Dow ($5)	Friday	YM1-YM5	1FA Index, 2FA Index	0#1YMW+
E-mini Russell 2000	Friday	R1E-R4E	RUWA Index	0#1RTYW+
Interest Rate Options
2-Year Note	Wednesday	WT1-5	TUIA Comdty	0#WTW+
2-Year Note	Friday	ZT1-5	1W-5W	0#TUW+
5-Year Note	Wednesday	WF1-5	FVWA Comdty	0#WFW+
5-Year Note	Friday	ZF1-5	1I-5I	0#FVW+
10-Year Note	Wednesday	WY1-5	TYYA Comdty	0#WYW+
10-Year Note	Friday	ZN1-5	1M-5M	0#TYW+
T-Bond	Wednesday	WB1-5	USYA Comdty	0#WBW+
T-Bond	Friday	ZB1-5	1C-5C	USW+
FX Options
EUR/USD	Wednesday	WE1-WE5	WEYA
EUR/USD	Friday	1EU-5EU	UAW	0#1EUUW+
GBP/USD	Wednesday	WG1-WG5	WLYA
GBP/USD	Friday	1BP-5BP	BGW	0#1GBUW+
JPY/USD	Wednesday	WJ1-WJ5	WJYA
JPY/USD	Friday	1JY-5JY	JAW	0#1JPUW+
CAD/USD	Wednesday	WD1-WD5	WCBA
CAD/USD	Friday	1CD-5CD	UDW	0#1CHUW+
AUD/USD	Wednesday	WA1-WA5	WABA
AUD/USD	Friday	1AD-5AD	AUW	0#1ADUW+
Energy Options
WTI Crude Oil	Friday	LO1-5	CLWA Comdty	0#CLW+
Natural Gas	Friday	LN1-5	GKWA Comdty
Metals Options
Gold	Friday	OG1-5	XGCA Comdty OMON <GO>	0#GCW+
Silver	Friday	SO1-5	WSIA Comdty OMON <GO>
Copper	Friday	H1E-H5E	HGWA Comdty OMON <GO>
Ag Options
Corn	Friday	ZC1-5	1-5XA Comdty	0#CW+
Soybeans	Friday	ZS1-5	1-5SA Comdty	0#SWW+
SRW Wheat	Friday	ZW1-5	1-5WA Comdty	0#WW+

Helpful Tools

CME FedWatch
Gauge the market’s expectation of an upcoming rate hike.

Open Interest Heatmap
Gain insight into market sentiment through the lens of put/call open interest.

Cross Correlation Tool
Track cross-asset product relationships to identify how activity in one market might affect another.

Options Expiration Calendar
View or download a year’s worth of expiration dates, including yet-to-be-listed weekly options.

Options Calculator
Generate fair value prices and Greeks for any of CME Group’s options on futures contracts.

Volatility Term Structure Tool
Compare charts of current implied volatilities across expiration to the view from one week earlier.

Economic Insights

- - - Gold: Waiting for the Next Bull Market
    - By Erik Norland
      
      September 11, 2018
    - A strong U.S. dollar and tighter monetary policy have been bearish for gold, but is the yellow metal about to enter bull market territory?
- - - Three Critical Recession Warning Signs to Watch
    - By Erik Norland and Bluford Putnam
      
      September 10, 2018
    - Is the U.S. heading toward a recession? We examine three critical warning signs and conclude that the next downturn could be different from the 2008 crisis.
- - - Aluminum: Supply and Demand Dynamics
    - By Erik Norland
      
      September 06, 2018
    - Higher U.S. tariffs on aluminum has lifted its price in the United States and could lead to reduced consumption while causing a glut in Europe and Asia.
- - - Fed's Fork in the Road: Even Higher Rates or Pause
  - - Fed's Fork in the Road: Even Higher Rates or Pause
    - By Erik Norland and Bluford Putnam
      
      August 23, 2018
    - Will the Fed raise rates seven more times through 2020? Our base case scenario is for just two more due to record-high debt and the risk of a recession.
- - - Hedging U.S. Equities with Treasury Options
  - - Hedging U.S. Equities with Treasury Options
    - By Erik Norland
      
      August 20, 2018
    - Equities might be in the late stage of a nine-year bull run, and with rising rates and a possible recession, the risks to being long-only stocks is growing.

View all Economic Research

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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.