Uncovered Options Trading System
Category: Equity Index Futures / International Index Futures
The PA S&P Asia 50 Futures have been developed to track the price (performance) of the S&P Asia 50 Index
(SPAS50). They were introduced and become available for trading in 2006 year. The S&P Asia 50 are traded on
the Chicago Merchandise Exchange (CME).
The PA S&P Asia 50 Futures belongs to the group of the "International Index" futures from the
"Equity Index" futures category.
The value of the one PA S&P Asia 50 Futures contracts is $25 times the value of the
S&P Asia 50 Index. If for example, the S&P Asia 50 Index (SPAS50) is traded at $3,000, the
value of one future contracts gives to a furfures trader a buying power that is equivalent to $75,000
(25 times bigger). Furthermore, if the S&P Asia 50 Index moves up or drops down for one point, the S&P Asia 50 contract
increase or decline in its value by $25. The tick size (minimum price
fluctuation) of the PA S&P Asia 50 Futures contract is 0.5 which correspond to $12.50.
The PA S&P Asia 50 Futures are traded under the "PA" 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 PA futures contracts are classified by the month of expiration. The PA 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 PA 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 PA S&P Asia 50 Futures that
expire in December 2024 are traded under the "PA4Z" symbol, the March 2025 expiration contracts are traded under the "PA5H"
symbol, June 2025 expiration S&P Asia 50 have "PA5M" symbol and the ones that expire in September 2025 are listed
under the "PA5U" symbol.
| Ticker Symbol: | PA |
| Commodity: | S&P Asia 50 Index (SPAS50) |
| Available for trading since: | 2006 |
| Expiration Cycle: | Four times a year on third Friday of March, June, September and December. Next four expirations are PA4Z - December 2024 PA5H - March 2025 PA5M - June 2025 PA5U - September 2025 |
| Contract Size: | $25 x S&P Asia 50 Index price |
| Minimum Tick Size: | 0.5 = $12.50 |
| 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.