Uncovered Options Trading System
Category: Equity Index Futures / US Index Futures
The Financial SPCTR futures have been developed to track the price (performance) of the S&P 500 Financial index
(SPSY). They were introduced and become available for trading in 2009 year. The Financial SPCTR are traded on
the Chicago Merchandise Exchange (CME).
The Financial SPCTR futures belongs to the group of the "US Index" futures from the
"Equity Index" futures category.
The value of the one Financial SPCTR futures contracts is $250 times the value of the
S&P 500 Financial index. If for example, the S&P 500 Financial index
(SPSY) is traded at $200, the
value of one future contracts gives to a furfures trader a buying power
that is equivalent to $50,000
(250 times bigger). Furthermore, if the
S&P 500 Financial index moves up or drops down for one point, the Financial SPCTR contract
increase or decline in its value by $250. The tick size (minimum price
fluctuation) of the Financial SPCTR futures contract is 0.1 which correspond to $25.00.
The Financial SPCTR futures are traded under the "FIN" 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 FIN futures contracts are classified by the month of expiration. The FIN 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 FIN 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 Financial SPCTR futures that
expire in December 2024 are traded under the "FIN4Z" symbol, the
March 2025 expiration contracts are traded under the "FIN5H"
symbol, June 2025 expiration Financial SPCTR have
"FIN5M" symbol and the ones that expire in September 2025 are listed
under the "FIN5U" symbol.
| Ticker Symbol: | FIN |
| Commodity: | S&P 500 Financial index (SPSY) |
| Available for trading since: | 2009 |
| Expiration Cycle: | Four times a year on third Friday of March, June, September and December. Next four expirations are FIN4Z - December 2024 FIN5H - March 2025 FIN5M - June 2025 FIN5U - September 2025 |
| Contract Size: | $250 x S&P 500 Financial index price |
| Minimum Tick Size: | 0.1 = $25.00 |
| 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.