Asking such a question indicates you're lack of knowledge about what you might be getting into, and nobody has clued you in. So.... 1. When you trade 1 ES contract, you're putting into play ~ $170,000. The exchange requirement for maintenance margin is currently $12,000. That's what you must post to hold a trade overnight. You are 100% responsible and accountable for whatever happens while you hold that $170k contract! If you wipe out your posted margin, you're responsible to the broker for any deficit until the contract is closed. 2. Some brokers will let you day trade with $500 in margin money, but that means you have only "10 points" of cushion before that margin is wiped out. 10 or more points can occur quickly, as you hopefully already know. 3. There is a Micro ES contract at 1/10 the size of the Emini ES... IOW, a face amount of $17,000. Now you know.
You mean Micro, not Mini. The 17K is not the performance bond, it's the notional value. 1/10th the size. So the maintenance would be $1200 (although $1320 is the real number you would need.)
It's all relative. I haven't checked to see if the "big/pit contract" in the SP Futures is still trading, but when it did it was "250 x SPX". That would today make 1 Big Contract = $850k An "Emini ES" is relatively mini @ $170k A Micro ES is micro @ $17k.
Different brokers have different margin requirements for the purchase. It would be best if you can check the broker’s website.
E-mini S&P 500 Futures Contract Specs - CME Group Go to the source not a forum. Then as others suggest check your broker. Also note, the difference between day and overnight is about 25% margin requirement. Also there is an initial and a maintenance margin. When you switch over to overnight at the close, it is calculated at the Initial overnight.