ACE E-Mini S&P - May 17, 2021

Below is an illustration trading futures options on E-Mini S&P.  Our post shows bullish and bearish positions using a combination of call and put options.

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Trade Options on Futures

E-Mini S&P * Directional & Neutral Positions

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E-Mini S&P


Term Structure

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Contract Size - $50 x S&P 500 Index.

Tick Size:  Outright: 0.25 index points=$12.50

Trading Hours: CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET) with  trading halt 4:15 p.m. - 4:30 p.m.

* Tip: Click here to read a helpful tip about E-Mini SP futures and options

E-Mini S&P

Below are charts for reference.  

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Latest, Biggest, Busiest

Below is a snapshot with what's going on in the world of options with the most actively traded spreads.

Enlarge by right clicking mouse over each image and select 'open in a new tab'

Below is an illustration of a Jun21 3550/3420 Bear Put spread shown in the 2nd column above as a popular spread.

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es Jun.3550 3420 target

* Tip: Click here on enlarging images


Below are alternatives to popular spreads shown above.

The % yield shown in the diagram below represent a model of an estimated return on margin from projected dates shown. Both strategies below have positive time decay (theta) with time working for the position.


Position has positive time decay and benefits from a rise in implied volatility. Modeled below with hypothetical rise in implied volatility held to end of May

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Calendar Fly

Position has positive time decay and positive Vega if the market continues to trend higher.


Reverse Calendar (aggressive directional)

Below illustrates a starting point at T0 and directional moves with a 1 point in change in implied volatility on either side (vertical green line) through 1st June.




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