From Wikipedia, the free encyclopedia. E-mini S&P, often abbreviated to E-mini (despite the existence of many other E-mini contracts) and designated by the commodity ticker symbol ES, is a stock market index futures contract traded on the Chicago Mercantile Exchanges Globex electronic trading platform.
What are ES trading hours?
Trading Hours Monday - Thursday 11:00 a.m. - 5:00 p.m. ET and 6:00 p.m. - 9:30 a.m. ET.
How much money do you need to trade ES?
E-mini futures, especially the E-mini S&P 500 futures (ES) typically have the lowest day trading margins, $500 with some brokers. 4 That means the trader only needs $500 in the account (plus room for price fluctuations) to buy/sell one E-mini S&P 500 contract.
What are ES options?
One of the popular futures that is trading is the ES futures (E-Mini S&P 500 futures options). ES futures and options are based on the underlying Standard & Poors 500 stock index, which measures the performances of stocks across the 500 leading large-capitalization firms listed on U.S. stock exchanges.
What is S&P 500 E-Mini?
The S&P 500 E-mini is a futures contract representing 1/5 the value of a standard S&P 500 futures contract. S&P 500 E-minis have become the primary futures trading vehicle for the S&P 500, dwarfing volume in the standard S&P 500 futures contracts.
Are ES futures cash-settled?
S&P futures are cash-settled and listed by the Chicago Mercantile Exchange (CME). Futures come in two sizes, standard contracts with a 250x multiplier, and smaller e-mini contracts that trade electronically which are 1/5 the size of the full contract.
Are Es options cash settled?
S&P 500 Options The full value product has a ticker symbol of SPX with a multiplier of $100. The mini has a ticker symbol of XSP with a multiplier that is one-tenth the SPX. S&P 500 options contracts are also cash-settled.
What is the difference between ES and SPX?
SPX represents the S&P 500 index and ES represents the E-mini futures, also commonly referred to a /ES when youre trading in your broker platform, but it represents the E-mini futures on the S&P 500 index. The SPX is an index. You cant actually trade it. Theres no tradable security.
How many Emini contracts can I trade?
Essentially margin is what your broker uses as collateral for you to take control of a futures contract. Theoretically, a trader could trade as many as 5 contracts ($500 margin each) at once with a $2,500 account, though this would introduce a trader to an enormous amount of risk.
Where can I trade in Emini?
The Emini (or E-mini or ES or Mini) is a futures contract that tracks the S&P 500 stock market index. It is traded on the Chicago Mercantile Exchange (CME) via their Globex electronic trading platform. Trading is 23 ½ hours a day, 5 days a week, using the contract symbol ES.
How are ES futures settled?
If youre trading the E-mini S&P 500 future (/ES), the underlying contract represents $50 multiplied by the price of the index. E-mini S&P 500 futures are financially settled, so when delivery takes place youll receive a cash credit or debit thats based on the settlement price.
Is cash settlement same day?
Transaction in which a contract is settled on the same day as the trade date, or the next day if the trade occurs after 2:30 p.m. EST and the parties agree to this procedure. Often occurs because a party is strapped for cash and cannot wait until the regular three-business day settlement.
Can you trade futures 24 hours a day?
Futures products trade nearly 24 hours a day, 6 days a week. For equity index traders, E-mini & Micro E-mini futures allow traders to participate in the same markets as Wall Street both before and after the stock markets relatively short trading session.
How are ES options settled?
Futures options will expire into cash when the options and futures expire in the same month. If the options and the future expire in different months, the options settle to the future. For example if we have FEB /ES Call that expires ITM, we end up with a MAR /ES Future.
How are ES futures priced?
It is priced by multiplying the S&P 500s value by $250. For example, if the S&P 500 is at a level of 2,500, then the market value of a futures contract is 2,500 x $250 (or $625,000). E-mini futures were created to allow for smaller investments by a wider range of investors.