Gaps es/nq 16:00 or 16:15 hours?

B

Bachelier

At the opening I pay attention to the morninggaps in the eminis for gapplays.

Which closing time should I look at for determining the gaps, 16:00 when the cash markets close, or 16:15 when the futures close?

TIA,

Bachelier
 
Pay attention to 16:15 as that is the last price tick that is applicable to the minis. There is a settlement price which is usually slightly different from the last tick. The settlement price is actually the official "close" for the day. I believe the settlement price is calculated as an average of the final 30 seconds of trading's range.
 
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