options on es mini futures, expirate date and time

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newguy05

Hi just want to confirm the expiration datetime logic for options on es mini futures. Is the below correct?

Last Day of Trading:
-March, June, September, December: Same date as underlying futures contract
-Other eight months: The third friday of the contract month

Last Day Trading Hours (i didnt know options on also traded almost 24 hours on the weekdays??)
-24-hour trading, except
3:15 p.m. - 3:30 p.m. (Chicago Time) Monday - Thursday
3:15 p.m. Friday - 5:00 p.m. Sunday

So the May es mini option expiration is: Friday 5/16 at 3:15PM
is this correct?

thanks
 
Quote from newguy05:

(i didnt know options on also traded almost 24 hours on the weekdays??)

So the May es mini option expiration is: Friday 5/16 at 3:15PM
is this correct?

thanks
More...

Technically they trade 24 hours, but the markets are horrendous outside of RTH, you're much better off trading ES to adjust deltas.

And yes, last trade is Fri @ 3:15pm Chicago time, any in the money positions are auto-exercised into ES.
 
Quote from newguy05:

Hi just want to confirm the expiration datetime logic for options on es mini futures. Is the below correct?

Last Day of Trading:
-March, June, September, December: Same date as underlying futures contract

I have looked at this closely in the past. For quarterlies: the last trading day for the ES futures is the Thursday before expiration Friday. On Friday, at the 9:30 open, there is a special opening quote for which the FOP's and FUT's settle. So, for all intents and purposes, FOP's expire at Friday's open. "Stuff" can happen between Thursday's close and Friday's special opening--just remember, if you need to "cover" something, do it before Thursday's close.


-Other eight months: The third friday of the contract month

FOP's expire at 4:15PM EST on this third Friday.

Last Day Trading Hours (i didnt know options on also traded almost 24 hours on the weekdays??)
-24-hour trading, except
3:15 p.m. - 3:30 p.m. (Chicago Time) Monday - Thursday
3:15 p.m. Friday - 5:00 p.m. Sunday

So the May es mini option expiration is: Friday 5/16 at 3:15PM
is this correct?

Correct--central standard time. Do not trade FOP's after hours--the spreads will kill you, not to mention that all the bids are way below true option price and the asks are way above. I have also found it impossible to trade, at least with Global, between 4:30-6:30 PM EST. The market is open, but the platforms and the order desk don't put trades through during that period. Globex is also closed from 5:30 to 6:00 PM for maintenance as well.
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Quote from jwcapital:

I have also found it impossible to trade, at least with Global, between 4:30-6:30 PM EST. The market is open, but the platforms and the order desk don't put trades through during that period. Globex is also closed from 5:30 to 6:00 PM for maintenance as well.
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PATSystems is offline for daily processing during those hours. So if you're using J-Trader or one of the other PATS-based platforms through RCG, you won't be able to connect until after 6:30 pm. However our order desk is still running and accepting orders during the PATS down time. We realize that there are clients who want to trade during that time.

The tricky thing is, even though the order desk has taken and placed the order with the exchange you won't be able to track the order on J-Trader during that time.

If you are using the RAN platform or CQG, you would not have to deal with the extra down time. These are not PATS-based.

I hope this is useful information for you.
 
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