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U.S. Index
Product Overview
Options on S&P 500 futures provide a way to:
- Limit downside risk and maximize upside potential while maintaining exposure to the key benchmark for large-cap U.S. stocks
- Accommodate 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
Things to know:
- These are American-style options, which can be exercised at any time before expiration
- We also offer end-of-month European-style options which can only exercised at expiration
- CME Clearing matches and settles all trades and guarantees counterparty creditworthiness
Get Real-Time Quotes
View free real-time quotes on a variety of electronically traded CME Group products
General News & Announcements for Equity
Fee Incentives & Intercommodity Spreads: S&P SmallCap & MidCap Products
- Fee Waivers on the S&P MidCap 400 and S&P SmallCap 600 contracts
- Tools to Transfer Russell 2000 Open Interest to S&P SmallCap 600 or S&P MidCap 400 Contracts:
- Coming May 19: New EMD-ER2 Intercommodity Spread Tool
- Available now: SMC-ER2 Intercommodity Spread Tool
Reduced Fees on Spread-Traded E-mini Options
Retroactive to May 1, 2008, CME Group has waived CME Globex fees on the following E-mini equity index options:
ELIGIBLE CONTRACTS (Must Be Traded As Part of a Spread)
American-Style
• E-mini S&P 500 options
• E-mini NASDAQ-100 options
• E-mini S&P MidCap 400 options
European-Style
• End-of-month (EOM) E-mini S&P 500 options
ELIGIBLE CONTRACTS (Must Be Traded As Part of a Spread)
American-Style
• E-mini S&P 500 options
• E-mini NASDAQ-100 options
• E-mini S&P MidCap 400 options
European-Style
• End-of-month (EOM) E-mini S&P 500 options
Block trades for E-mini Russell 2000
CME Group is offering an expanded block trade program for E-mini Russell 2000 products. This program is designed to help facilitate an orderly transition of open interest with the end of our contractual listing rights nearing (September 2008). Waivers have been added for certain block transactions.
- Equity Index Products Research Center
- Equity Index Choices resource center
- EOM Options Fixing Price (ESF)
- Equity Fair Value Premiums
- Clearing & Trading Fees
- Performance Bonds/Margins
- Trading Hours
- Product & Vendor Codes
- Future Spreads on CME Globex
- Options Strategies on CME Globex
- CME Rulebook
- CBOT Rulebook
- Find-a-Broker
- Glossary
- Knowledge Center Home
- View Intra Day Block Trades
- Month-End FV Settlement Q&A
CME Product Market Data
Having issues with streaming quotes and want a static snapshot? Click here for our 10-minute delayed reports
| Trade Unit | One S&P 500 Stock Price Index futures contract | ||||||
| Settle Method | Delivery | ||||||
| Point Size | 1 point = .01 index points = $2.50 | ||||||
| Strike Price Interval | |||||||
| Strike | 12 strikes up & down, and including, the strike nearest the money. | ||||||
| Limits/Price Banding | Options trading halted when lead S&P futures lock limit. | ||||||
| Tick Size (Minimum Fluctuation) |
|
||||||
| Trading Hours | Mon/Thurs 5:00 p.m.-8:15 a.m. & 3:30 p.m.-4:30 p.m.; Shutdown period from 4:30 p.m. to 5:00 p.m. nightly; Sun & Hol 5:00 p.m.-8:15 a.m. | ||||||
| Listed | The underlying S&P futures percentage price limits are calculated at the beginning of each calendar quarter. Limit is based on 5% of index value. | ||||||
| Product Codes | Clearing=SP Ticker Call=CS Put=PS American Flex: Calls=XPC Puts=XPP European Flex: Calls=YPC Puts=YPP | ||||||
| Minimum Block Size | |||||||
| Product Calendar | Eight months in the March quarterly cycle and three months not in the March cycle (serial months). Mar, Jun, Sep, Dec. View current product listings |
| Trade Unit | One S&P 500 Stock Price Index futures contract | ||||||
| Settle Method | Delivery | ||||||
| Point (Tick) Size | 1 point = .01 index points = $2.50 | ||||||
| Strike Price Interval | |||||||
| Strike | All listed intervals | ||||||
| Limits/Price Banding | Options trading halted when lead S&P futures lock limit. | ||||||
| Minimum Fluctuation |
|
||||||
| Trading Hours | 8:30 a.m.-3:15 p.m. LTD: 3:15 pm | ||||||
| Listed | The underlying S&P futures percentage price limits are calculated at the beginning of each calendar quarter. Trading halts are coordinated with trading halts in the primary securities markets. | ||||||
| Product Codes | Clearing=SP Ticker Call=CS Put=PS American Flex: Calls=XPC Puts=XPP European Flex: Calls=YPC Puts=YPP | ||||||
| Minimum Block Size | |||||||
| Product Calendar | Eight months in the March quarterly cycle and three months not in the March cycle (serial months). Mar, Jun, Sep, Dec. View current product listings |
General News & Announcements for Equity
Fee Incentives & Intercommodity Spreads: S&P SmallCap & MidCap Products
- Fee Waivers on the S&P MidCap 400 and S&P SmallCap 600 contracts
- Tools to Transfer Russell 2000 Open Interest to S&P SmallCap 600 or S&P MidCap 400 Contracts:
- Coming May 19: New EMD-ER2 Intercommodity Spread Tool
- Available now: SMC-ER2 Intercommodity Spread Tool
Reduced Fees on Spread-Traded E-mini Options
Retroactive to May 1, 2008, CME Group has waived CME Globex fees on the following E-mini equity index options:
ELIGIBLE CONTRACTS (Must Be Traded As Part of a Spread)
American-Style
• E-mini S&P 500 options
• E-mini NASDAQ-100 options
• E-mini S&P MidCap 400 options
European-Style
• End-of-month (EOM) E-mini S&P 500 options
ELIGIBLE CONTRACTS (Must Be Traded As Part of a Spread)
American-Style
• E-mini S&P 500 options
• E-mini NASDAQ-100 options
• E-mini S&P MidCap 400 options
European-Style
• End-of-month (EOM) E-mini S&P 500 options
Block trades for E-mini Russell 2000
CME Group is offering an expanded block trade program for E-mini Russell 2000 products. This program is designed to help facilitate an orderly transition of open interest with the end of our contractual listing rights nearing (September 2008). Waivers have been added for certain block transactions.
- Equity Index Products Research Center
- Equity Index Choices resource center
- EOM Options Fixing Price (ESF)
- Equity Fair Value Premiums
- Clearing & Trading Fees
- Performance Bonds/Margins
- Trading Hours
- Product & Vendor Codes
- Future Spreads on CME Globex
- Options Strategies on CME Globex
- CME Rulebook
- CBOT Rulebook
- Find-a-Broker
- Glossary
- Knowledge Center Home
- View Intra Day Block Trades
- Month-End FV Settlement Q&A
Contracts Currently Eligible
to Trade and Recently Expired Contracts
| Contract Month | Product Code | First Trade Date | Last Trade Date | Settlement Date | |
| SEP08 | SPU08 | 09/15/2006 |  |
09/18/2008 | 09/19/2008 |
| OCT08 | SPV08 | 05/19/2008 | |
10/17/2008 | 10/17/2008 |
| NOV08 | SPX08 | 07/21/2008 | |
11/21/2008 | 11/21/2008 |
| DEC08 | SPZ08 | 12/15/2006 | |
12/18/2008 | 12/19/2008 |
| JAN09 | SPF09 | 08/18/2008 | |
01/16/2009 | 01/16/2009 |
| MAR09 | SPH09 | 03/16/2007 | |
03/19/2009 | 03/20/2009 |
| JUN09 | SPM09 | 06/15/2007 | |
06/18/2009 | 06/19/2009 |
| SEP09 | SPU09 | 09/21/2007 | |
09/17/2009 | 09/18/2009 |
| DEC09 | SPZ09 | 12/21/2007 | |
12/17/2009 | 12/18/2009 |
| MAR10 | SPH10 | 03/20/2008 | |
03/18/2010 | 03/19/2010 |
| JUN10 | SPM10 | 06/20/2008 | |
06/17/2010 | 06/18/2010 |
General News & Announcements for Equity
Fee Incentives & Intercommodity Spreads: S&P SmallCap & MidCap Products
- Fee Waivers on the S&P MidCap 400 and S&P SmallCap 600 contracts
- Tools to Transfer Russell 2000 Open Interest to S&P SmallCap 600 or S&P MidCap 400 Contracts:
- Coming May 19: New EMD-ER2 Intercommodity Spread Tool
- Available now: SMC-ER2 Intercommodity Spread Tool
Reduced Fees on Spread-Traded E-mini Options
Retroactive to May 1, 2008, CME Group has waived CME Globex fees on the following E-mini equity index options:
ELIGIBLE CONTRACTS (Must Be Traded As Part of a Spread)
American-Style
• E-mini S&P 500 options
• E-mini NASDAQ-100 options
• E-mini S&P MidCap 400 options
European-Style
• End-of-month (EOM) E-mini S&P 500 options
ELIGIBLE CONTRACTS (Must Be Traded As Part of a Spread)
American-Style
• E-mini S&P 500 options
• E-mini NASDAQ-100 options
• E-mini S&P MidCap 400 options
European-Style
• End-of-month (EOM) E-mini S&P 500 options
Block trades for E-mini Russell 2000
CME Group is offering an expanded block trade program for E-mini Russell 2000 products. This program is designed to help facilitate an orderly transition of open interest with the end of our contractual listing rights nearing (September 2008). Waivers have been added for certain block transactions.
- Equity Index Products Research Center
- Equity Index Choices resource center
- EOM Options Fixing Price (ESF)
- Equity Fair Value Premiums
- Clearing & Trading Fees
- Performance Bonds/Margins
- Trading Hours
- Product & Vendor Codes
- Future Spreads on CME Globex
- Options Strategies on CME Globex
- CME Rulebook
- CBOT Rulebook
- Find-a-Broker
- Glossary
- Knowledge Center Home
- View Intra Day Block Trades
- Month-End FV Settlement Q&A
Product Education
Publications
Contract Related
- Equity Index Products Research Center
- Equity Index Choices resource center
- EOM Options Fixing Price (ESF)
- Equity Fair Value Premiums
- Clearing & Trading Fees
- Performance Bonds/Margins
- Trading Hours
- Product & Vendor Codes
- Future Spreads on CME Globex
- Options Strategies on CME Globex
- CME Rulebook
- CBOT Rulebook
- Find-a-Broker
- Glossary
- Knowledge Center Home
- View Intra Day Block Trades
- Month-End FV Settlement Q&A