Update (12/31/2022):
It seems that new users have trouble registering for the forum. The confirmation email never shows up. I’ve decided to phase out this forum and transition over to a new forum plugin. The new location is here:
https://earlyretirementnow.com/forum-3/
Policies – please read!
- Everyone can read posts, but to start a new topic or add a reply you’d need to register. To create an ID, please verify your email address. You will get a link at that email address and you can then pick a password.
- Be courteous to others. Treat others like you like to be treated. Discuss the issues. No ad-hominem attacks!
- It’s OK to include external links if they are relevant. But please avoid spamming! Please no affiliate links.
- Before starting a new topic, please check if that question/topic has been discussed before already and add to that discussion instead of starting a new topic.
- If you’ve written a cool blog post that you want to share with others please post this in the “Self-Promo” category only!
- Please read the usual Disclaimers and the Privacy Policy!
- The forum policies may be amended in the future!
For options on the ES/MES futures, what price does it use at the rollover, like today with June/September? It looks like the June MES future is around $4,185 while the September MES future is $4,165. For options expiring today, do they key off the June or September price?, or did they settle based on opening price today? If the option is ITM, I assume it will be cash settled as opposed to assignment of a futures contract? Any clarification would be much appreciated!
Correct! ES options will be settled physically in the near/front future contract. The one exception, as you note, is the expiration date of the ES contract itself, where the ES option will be cash-settled.
@earlyretirementnowcom Thanks Karsten! So for Jun18 ES options, did they settle based on the opening price today ($4185)? I have an 4170 strike option so trying to figure out if it will end up being a winner or loser 😀
@bginburg The Special Opening Quotations (SOQ, might be slightly different from SPX open!) appears to have been 4185. If you shorted a 4170 put it expired worthless.
The E-mini options that expire in the AM on the expiration day are the American Options listed on the contract specs page. https://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_contractSpecs_options.html
Per that page they should settle to the SOQ of this morning using the June contract. If you hop over to the quotes or settlement pages you’ll see the official numbers.
@nobatmanjokes Thanks.
Some more info on the SOQ: https://www.cmegroup.com/education/articles-and-reports/understanding-the-special-opening-quotation-soq.html