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S&P 500 Futures and Options
Free Standard & Poor's 500 Futures Trading eGuide
S&P 500 futures provide a way to efficiently gain exposure to the large-cap U.S. stock market with contracts on the world's most widely followed financial benchmark.They also enable you to:
- Benefit from lower costs compared to trading individual stocks or Exchange-Traded Funds (ETFs)
- Use a financial tool that accommodates a range of strategies, different market environments and varied objectives
- Together with other CME Group equity products, effectively replicate all your global equity exposure on a single platform
S&P 500 Futures: About the Underlying Index-
The S&P 500 Index is a perhaps the most widely followed benchmark of stock market performance in the world. It is a capitalization-weighted and float-adjusted index of 500 large-capitalization stocks traded on the NYSE, ASE and the Nasdaq National Market System. The Index represents the market value of all outstanding common shares of 500 firms listed (share price x shares outstanding). A change in the price of any one stock influences the Index in proportion to the relative market value of that firm's outstanding shares.
Read more about the underlying Index, including a complete list of stocks currently represented, on the Standard & Poor's Web site.
CME S&P 500 Futures Contract Specifications
S&P 500 Futures |
|
| Opening Date | 4/21/1982 |
| Ticker Symbol | SP SP= Clearing View product and vendor codes |
| Contract Size | $250 x S&P 500 futures price |
| Tick Size (minimum fluctuation) |
OUTRIGHT
0.10 index points=$25
CALENDAR SPREAD
0.05 index points=$12.50
|
| Trading Hours All times listed are Central Time |
Open Outcry
MON-FRI: 8:30 a.m.-3:15 p.m.
CME Globex (Electronic Platform)
MON-THURS: 3:30 p.m.-8:15 a.m.
(daily maintenance shutdown from 4:30 p.m.-5:00 p.m.) SUN: 5:00 p.m.-8:15 a.m |
| Contract Months |
Open Outcry
Eight months in the March Quarterly Cycle
(Mar, Jun, Sep, Dec) CME Globex
One month in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
|
| Last Trade Date/Time View Calendar |
Open Outcry
MON-FRI: 8:30 a.m. -3:15 p.m.
(Mar, Jun, Sep, Dec) CME Globex
On the rollover date (typcially eight days prior to last trade date for open outcry) when the lead month goes off the screen and the deferred month becomes the new lead month. View Rollover Dates
|
| Final Settlement Procedure | Cash Settlement. All open positions at close of last day of trading are settled in cash to the Special Opening Quotation (SOQ) on Friday a.m. of the S&P 500 Index. See SOQ FAQ. |
| Daily Price Limits | RTH: Successive 10%, 20%, 30% limits (downside only) ETH (overnight): 5% up or down View price limits details |
| Position Limits | 20,000 net long or short in all contract months combined. |
| Rulebook Chapter | 351 |
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of CME. |
CME S&P 500 Futures Options |
|
| Opening Date | 4/21/1982 |
| Ticker Symbol | SP SP= Clearing View product and vendor codes |
| Contract Size | $250 x S&P 500 futures price |
| Tick Size (minimum fluctuation) |
OUTRIGHT
0.10 index points=$25
CALENDAR SPREAD
0.05 index points=$12.50
|
| Trading Hours All time listed are Central Time |
Open Outcry
MON-FRI: 8:30 a.m.-3:15 p.m.
CME Globex (Electronic Platform)
MON-THURS: 3:30 p.m.-8:15 a.m.
(daily maintenance shutdown from 4:30 p.m.-5:00 p.m.) SUN: 5:00 p.m.-8:15 a.m |
| Contract Months |
Open Outcry
Eight months in the March Quarterly Cycle
(Mar, Jun, Sep, Dec) CME Globex
One month in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
|
| Last Trade Date/Time View Calendar |
Open Outcry
MON-FRI: 8:30 a.m. -3:15 p.m.
(Mar, Jun, Sep, Dec) CME Globex
On the rollover date (typcially eight days prior to last trade date for open outcry) when the lead month goes off the screen and the deferred month becomes the new lead month. View Rollover Dates
|
| Final Settlement Procedure | Cash Settlement. All open positions at close of last day of trading are settled in cash to the Special Opening Quotation (SOQ) on Friday a.m. of the S&P 500 Index. See SOQ FAQ. |
| Daily Price Limits | RTH: Successive 10%, 20%, 30% limits (downside only) ETH (overnight): 5% up or down View price limits details |
| Position Limits | 20,000 net long or short in all contract months combined. |
| Rulebook Chapter | 351 |
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of CME. |
See Also: S&P 500 News Blog, Dow Jones Special Report, Dow Jones Futures
