Introduction to ES & NQ options
Contract Size
The size of one CME ES/NQ options on futures contract is one CME E-mini SP500®/NASDAQ-100® futures contract.
Eligible Months
2 Quarterly, 2 Serial, ie, they are listed out two months in the March quarterly cycle and two serial months.
Contract tick increments:
ES: 0.25=$12.50 if premium >5.00; half tick or 0.05=$2.50 if premium =5.00; cab of 0.05=$2.50
NQ: 0.25=$5 if premium >3.00; half tick or 0.05=$1.00 if premium =3.00; cab of 0.25=$5.00
Strike prices:
ES: Generally, integers divisible by 10 without remainder; Increments within a range of 50 index points above or below the previous day's settlement price, strikes that are integers divisible by 5 without remainder may be added. Or more specifically 5-point intervals for the two nearest contracts and 10-point intervals for deferred months.
NQ: 5-point intervals for the two nearest contracts and 10-point intervals for deferred months.
Last Day of Trading Rule:
Quarterly: The business day of determination of the Final Settlement Price (normally, the 3rd Friday of the contract month). Serial: The 3rd Friday of the contract month.
New Contract Listing Rule:
The day after the front month expires.
