Uncovered Options Trading System
Category: Equity Index Futures / International Index Futures
The Nikkei 225 Yen Futures have been developed to track the price (performance) of the Nikkei 225 Stock Average Index
(N225). They were introduced and become available for trading in 2004 year. The Nikkei 225 Yen Futures are traded on
the Chicago Merchandise Exchange (CME).
The Nikkei 225 Yen Futures belongs to the group of the "International Index" futures from the
"Equity Index" futures category.
The value of the one Nikkei 225 Yen Futures contracts is $500 times the value of the
Nikkei 225 Stock Average Index. If for example, the Nikkei 225 Stock Average Index (N225) is traded at $11,000, the
value of one future contracts gives to a furfures trader a buying power that is equivalent to $5,500,000
(500 times bigger). Furthermore, if the Nikkei 225 Stock Average Index moves up or drops down for one point, the Nikkei 225 Yen Futures contract
increase or decline in its value by $500. The tick size (minimum price
fluctuation) of the Nikkei 225 Yen Futures contract is 5 which correspond to $2,500.00.
The Nikkei 225 Yen Futures are traded under the "NIY" symbol and the regular
trading hours for futures are from 5 p.m. EST to 3:15 p.m. EST on the next trading
day. The NIY futures contracts are classified by the month of expiration. The NIY futures expire on the third Friday of March, June, September and December. Based
on the expiration, the year's number and month's letter are added to the futures
symbol for its identification.
The NIY futures that expire in March have "H"
letter added, June expiration futures have "M" letter added, for September
expiration futures "U" letter is used and those futures that expire in December
have "Z" letter added at the end. Furthermore, the Nikkei 225 Yen Futures that
expire in December 2024 are traded under the "NIY4Z" symbol, the March 2025 expiration contracts are traded under the "NIY5H"
symbol, June 2025 expiration Nikkei 225 Yen Futures have "NIY5M" symbol and the ones that expire in September 2025 are listed
under the "NIY5U" symbol.
| Ticker Symbol: | NIY |
| Commodity: | Nikkei 225 Stock Average Index (N225) |
| Available for trading since: | 2004 |
| Expiration Cycle: | Four times a year on third Friday of March, June, September and December. Next four expirations are NIY4Z - December 2024 NIY5H - March 2025 NIY5M - June 2025 NIY5U - September 2025 |
| Contract Size: | $500 x Nikkei 225 Stock Average Index price |
| Minimum Tick Size: | 5 = $2,500.00 |
| Traded on: | Chicago Merchandise Exchange (CME) |
Naked options trading is very risky - many people lose money trading them. It is recommended contacting your broker or investment professional to find out about trading risk and margin requirements before getting involved into trading uncovered options.