CME Group Expands Contract Month Listings for Equity Index Options Products
Effective August 19, 2007. Read details here.

The addition of end-of-month (EOM) options on CME E-mini® S&P 500^® futures provides investors with a new way to trade options on the premier benchmark S&P 500 Index. These contracts combine the benefits of European-style options, which are exercised automatically if in-the-money at expiration, with the advantages of the CME E-mini contract design - small, liquid, electronically traded contracts featuring tight markets and around-the-clock accessibility on the CME Globex^® platform. They settle into the nearest quarterly CME E-mini S&P 500 futures contact.

As their name implies, these contracts are available for each calendar month and are designed to expire on the last business day of the month, complementing American-style quarterly and serial month options on CME E-mini S&P 500 futures. At expiration, CME calculates and disseminates a special fixing price (symbol ESF) to determine which options contracts are in-the-money and subject to exercise.

To view free live quotes on CME E-mini S&P 500 EOM options, click here.

To view the special 3 p.m. ESF fixing price used to determine which EOM options are in the money, click here.

For frequently asked questions (FAQs) on end-of-month options, click here.

For more product information including a table comparing EOM, quarterly and serial options, click here.

Benefits

• European-style design means options can only be exercised on expiration day; options will be automatically exercised if in-the-money, removing early assignment risk /assignment uncertainty
• Contrarian instructions (exercising contracts that are at- or out-of the money) are prohibited, eliminating pin risk
• End-of-month expiration expands product choice and accommodates end-of-month accounting practices
• Fast, flexible way to trade the benchmark S&P 500 Index using a single electronically traded contract
• Wide range of spreads to choose from, enabling traders to strategize for nearly any market environment or objective
• Lower risk profile with maximum upside potential
• Dedicated market makers continuously quoting competitive markets
• Electronically traded on the CME Globex^® platform, offering speed, reliability, anonymity and trading around the clock, around the world
• Guarantee of counterparty credit and central clearing by CME Clearing