Home > Markets > Options > ES Sept. options expire next friday(9/19)...do they trade on friday(9/19) or not?

ES Sept. options expire next friday(9/19)...do they trade on friday(9/19) or not?

  1. ES Sept. options expire next friday(9/19)...do they trade on friday(9/19) or not?...will the last available day to trade them be on Thursday 9/18?thanks in advance...
     
  2. From CME Index FAQ:

    How do the quarterly E-mini futures settle and when is the last time to trade before expiration?

    E-mini quarterly contracts expire at the same time and to the same price as their larger counterpart contracts. For quarterly futures contracts, trading can occur up to 8:30 a.m., Chicago time, on the third Friday of the month.
     

  3. the liquidity dries up @ the close on thurs.
     
  4. thanks but that is referring to the futures contract...not the options...
     
  5. yea, I would think you wold want to be out of all ES trades by some time thursday morning...thanks..
     
  6. Quarterlies can be traded up to 9:30am Friday, but the spreads will be shit after 4pm on Thursday.
     
  7. The index futures and options expire at the same time, settle at the same cash price and stop trading at the same time: Friday at 8:30 CDT.
     
  8. thanks...I stand corrected and informed...thanks...:)
     
  9. For September and the other quarterlies, the options expire on Friday at the open. A special opening quote is published and all ES futures and options are settled based on that special opening quote. The last day of trading the ES futures is Thursday at 4:15PM. A lot of things can happen between 4:15PM and Friday's special opening quote. When I have any long option positions, I exit them on the Friday before expiration or the following Monday--the latest. If I am short naked options, and they are far OTM, I let them expire. If it is close, I look to close them before Thursday's close. Even though the Sep ES is thinly traded, it does keep up with the S&P index. If I trade any same-month spreads (combos of long and short options), I exit them either the Friday before expiration or the following Monday. For serial expirations (where ES FUT and FOP expire on Friday at 4:15PM and are settled based on the close of the ES future), I basically follow the same rules.
     
  10. Very informative. Thanks for sharing this with us.
     
  11. thanks...how many ES long/short combos could you have active at any given time?
     
  12. BTW, how do you exit an option that is ITM but with wide bid/ask spread? Trade is thin at the ITM end.
     
  13. jhucti,

    You send in a limit order at the midpoint or a few cents off it and hope it is traded. Do this on Thursday afternoon with say a half hour to go. Remember that other retail traders will be also looking to buy and sell that contract (someone may have the other side of the spread in mind).
    If that fails to garner a fill in a few minuutes, then cancel and replace your order and take a few cents (usually about 0.10) off if you're selling.
    You can always exercise and sell, but there are some risks to doing that. It's usually wise to accept a few cents less and avoid those risks.
     
  14. Very helpful advice. Thanks a lot!
     
  15. what are some margin requirements you get per average credit spread...example: ES currently at 1240 and sell 1190 put and buy 1170 put.etc...
     
  16. Two ways--one, IB calculates fair vale of the option. So, I have pllced limit orders for the fair value, and they get executed. Also, if you place a limit order halfway between the bid/ask, it gets filled. Since I have used IB, the ITM options get closed out without a problem. Is it because of IB? I don't know.