I new trader for ES, I am wondering whether options can be used to replace the stop loss order for ES? question 1. In the contract specification, it says: 1 point = .01 index points = $0.50 My understanding is, take ESM7 for example: The current price of ESM7 is 1493.25. Suppose I want to set the stop loss to 1485. Then I can buy a 1485 put. Because Each option contract contains 100 options, and 1 point = .01 index points, so 1 option contract give you the right to sell one futures contract, and thus a exactly euqal to the stop loss order? Question 2> I find this on CME.com: European-Style End-of-Month (EOM) Options. CME says it "complementing American-style quarterly and serial month options on CME E-mini S&P 500 futures" But I did not find the american style option. Where is it?