About CME S&P 500 Options

Contract Size
The size of one CME S&P 500^® options on futures contract is one CME S&P 500 futures contract. CME S&P 500 options on futures are listed four months in the March quarterly cycle and two serial months. Like its futures contract counterpart, minimum price fluctuation is .10 index points at a value of $25.

Strike prices (price at which the options contract can be exercised by the options holder) are offered in 5-point intervals for the two nearest contracts and 10-point intervals for deferred months.

Underlying Index
The S&P 500 Index is a perhaps the most widely followed benchmark of stock market performance in the world. It is capitalization-weighted and float-adjusted index of the 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 the 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.

For more about the underlying Index, including a complete list of stocks represented by the Index, visit the Standard & Poor’s Web site.