Just to Confirm? SP Futures (full contracts) are not really trading anymore

Hi guys,

I just want to confirm the SPX futures, e.g. SPU, are not really trading anymore. The CME-CBOE site shows Sept volumes of 11 contracts. It seems the e-mini has completely taken over as the SP500 futures choice.

Thanks

 

I think they trade about 1500 a day

 

They are still used somewhat by institutional trade.

 

Last I checked, which was quite a while ago, the $$ volume handle of the big pit contract was only about 1/10 the $$ volume of the ES. May be even less than that now.

That being the case, no real or economic reason to keep the SP pit contract. Even the ES seems to have "fallen from favor". I suggest it's because with all of its "noise", has become viewed as "too difficult". Money that used to play there may have moved elsewhere. ??

Used to be the ES traded with 2000-4000 bid/ask per contract. Now it's down to 100-200 and even often 50-ish. That's chicken feed in the world of finance. Where did the money play go? Is this a temporary hiatus or a permanent abandonment of the ES market??

 

Thanks All

 

cme sp pit is closed. not sure what you mean by cme-cboe site; they're two different companies

 

According to the CME both Spooz futures and options still trade open outcry.

 

Perhaps. But do they trade with financially significant volume? (IOW... are they more than just a "pimple on an elephant's ass"?)

 

SP futures only trading at night time ( globex session) for the full size.
SP options work and trade on the pit during the day session.

The ES options and futures are definitely the way to trade SP500 versus the old "big contract"

 

Back in those days ES traded in a tight range most of the time, very different market from the action we had the last 2 years or so.