What are e-mini S&P 500 futures options?
What Are E-mini S&P 500 Futures? E-mini S&P 500 futures are traded on the
The E-mini S&P 500 is priced at $50 times the value of the index. It offers ease of trading, low volatility and margin rates, liquidity, and greater affordability.
Options on S&P 500 futures are contracts that give the buyer the right, but not the obligation, to buy (for a call option) or sell (for a put option) the underlying S&P 500 futures contract at a specified strike price and expiration date. 4 They are also standardized and traded on the CME with a cash settlement.
For example, the full cash value of the E-mini is equal to the S&P 500 index price * $50. In other words, if the E-mini is trading at 2,380.00, the full cash value would be $119,000/ contract (2,380.00 * $50.00).
S&P 500 futures, either E-mini or micro E-mini futures, allow investors to hedge or speculate on the future movement of the S&P 500 Index. These futures contracts allow for immediate investment in the S&P 500 index with the benefits of a regulated exchange and liquidity.
It is also referred to as e-mini because it is a part or a fraction of the total value of an underlying standard futures contract, hence the name e-“mini.” Hence, when a standard futures contract is broken down into various smaller parts, the fractional values of the total value of a standard futures contract is an e- ...
E-minis are electronically traded futures contracts that are a fraction of the value of corresponding standard futures contracts.
The key difference between the two is that futures require the contract holder to buy the underlying asset on a specific date in the future, while options -- as the name implies -- give the contract holder the option of whether to execute the contract.
The main difference between futures and options trading is that futures are a contract that obligates the buyer to purchase or sell an asset at a specified future date and price, while options give the buyer the right, but not the obligation, to purchase or sell an asset at a specified price and date.
Options on futures are priced off of the underlying future while options on equities are priced off the underlying stock. Depending on the product, options on futures either settle directly into the future or settle into cash; equity options settle into the underlying stock and index options settle into cash.
What are E-mini futures examples?
| Basis | E-Mini Futures | Futures |
|---|---|---|
| Examples | E-mini S&P 500, E-mini NASDAQ 100, E-mini Dow, E-mini Russel 2000, E-mini Euro FX Futures | S&P 500, NASDAQ 100, Dow Jones Industrial Average Index Futures, Russel 2000 |
| Last | Chg | |
|---|---|---|
| E-Mini S&P 500 Future Sep 2025 | $5,271.75 | -27.25 |
| E-Mini S&P 500 Future Dec 2025 | $5,320.75 | 0.00 |
| E-Mini S&P 500 Future Mar 2026 | $5,369.75 | 0.00 |
| E-Mini S&P 500 Future Jun 2026 | $5,407.75 | 0.00 |
You can trade the S&P 500 by purchasing shares of, or buying/selling options on, ETFs that track the S&P 500. You can also trade S&P 500 futures, which are derivative contracts that allow you to speculate on the future value of the index.
| Barchart Symbol | ES |
|---|---|
| Contract | E-Mini S&P 500 Index |
| Exchange | CME |
| Tick Size | 0.25 points ($12.50 per contract) |
| Margin/Maintenance | $12,980/11,800 |
How Many E-mini Contracts Can I Trade? Theoretically, you can trade as many E-mini contracts as your account balance allows you. Because E-mini contracts are traded on margin ($500/contract) you can trade more contracts with less money.
Micro E-mini futures contract specifications. S&P 500 futures: 0.25, worth $1.25 per contract.
With E-mini S&P 500 futures you can trade nearly 24 hours a day during the trading week and take advantage of potential trading opportunities regardless of market direction. E-mini S&P 500 futures also provide the ability to trade with greater leverage and can allow a more efficient use of trading capital.
Trading Micro Futures Contracts: Our Recommendation
For those looking to day trade micro futures contracts like the MES (Micro E-mini S&P 500), MNQ (Micro E-mini Nasdaq-100), M2K (Micro E-mini Russell 2000), and MYM (Micro E-mini Dow Jones), we recommend a minimum deposit of $1,000.
Not accounting for commissions and slippage, these strategic frameworks show that it is theoretically possible to make a living trading E-mini futures. Given a solid success rate and positive risk versus reward scenario, long-run profitability is attainable.
On-screen text: Disclosure: Futures trading involves substantial risk and is not suitable for all investors, and you can experience a significant loss of funds, or you may lose more than the funds you invested.
Can you buy options on S&P 500?
An index option is a financial derivative that gives the holder the right (but not the obligation) to buy or sell the value of an underlying index, such as the S&P 500 index, at the stated exercise price. No actual stocks are bought or sold.
CME E-mini S&P 500 futures contract, ticker symbol ES, is one of the most liquid futures contracts in the world and one of the most efficient and cost-effective ways to gain market exposure to the S&P 500 index.
The choice between futures and options depends on your investment goals and risk tolerance – Both instruments can be used for hedging, but options offer more flexibility and limited risk. Futures offer higher potential profits but also higher risk, while options provide limited profit potential with capped losses.
Futures have several advantages over options in the sense that they are often easier to understand and value, have greater margin use, and are often more liquid. Still, futures are themselves more complex than the underlying assets that they track. Be sure to understand all risks involved before trading futures.
Options are generally considered safer than futures because the potential loss in options trading is limited to the premium paid, whereas futures carry higher risk due to potential unlimited losses resulting from leverage and market movements.
