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Home / Education / Markets / Stock Index Futures Overview / S&P 500 Index Futures

S&P 500 Index Futures

S&P 500 Index Futures Focusing on 500 large-cap common U.S. stocks, the S&P 500 is a narrower market indicator than the Russell 2000. The second-most followed index for large-cap stocks after the DJIA, the S&P 500 is given attention for its ability to predict and influence future market trends. The S&P 500 is the most popular product in the Chicago Mercantile Exchange, and it can be traded as a futures contract either in an open outcry auction or on electronic platforms.

S&P 500 Contract Specifications
Ticker Symbol SP
SP=Clearing
Contract Size $250 x S&P 500 futures price
Tick Size
(minimum fluctuation)
OUTRIGHT: 0.10 index points=$25
CALENDAR SPREAD: 0.05 index points=$12.50
Trading Hours CME Globex: Mon-Fri 5:00pm previous day – 4:15pm CT
Trading halt from 8:15am-3:30pm CT
Open Outcry: Mon-Fri 8:30am-3:15pm CT
Contract Months/Symbols CME Globex: One month in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
Open Outcry: Eight months in the March Quarterly Cycle (Mar, Jun, Sep, Dec) plus three additional Dec contracts
Last Trade Date CME Globex: On the rollover date (typically eight days prior to last trade date for open outcry) when the lead month goes off the screen and the deferred month becomes the new lead month. View rollover dates
Open Outcry: 3:15 p.m. on Thursday prior to 3rd Friday of the contract month
Settlement Procedure Daily S&P Settlement Procedure
Final S&P Settlement Procedure
Daily Price Limit View price limits details
Exchange Rules These contracts are listed with, and subject to, the rules and regulations of CME.
Source: CME

Last updated May 2013

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  • What Are E-mini S&P 500 Futures? (12/15/2020) - On March 4, 1957, the Standard and Poor’s 500 (S&P 500) equities index was unveiled on Wall Street. With an initial market capitalization of $172 billion, the S&P 500 closely monitored the largest companies from the industrial (425), railroad (15), and utility (60) sectors. Over time, the index became a go-to benchmark for U.S. equities… Read more.
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  • How to Capitalize on S&P 500 Futures in 2020 (3/6/2020) - Since its inception circa 1957, the Standard and Poor’s 500 (S&P 500) has measured the performance of America’s largest companies. During times of boom and bust, investors from around the globe have looked to the S&P 500 for clues on the state of American prosperity.

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