Uncovered Options Trading System
Category: Equity Index Futures / US Index Futures
The S&P 400 MidCap futures have been developed to track the price (performance) of the S&P 400 index
(MID). They were introduced and become available for trading in 1992 year. The S&P 400 Futures are traded on
the Chicago Merchandise Exchange (CME).
The S&P 400 MidCap futures belongs to the group of the "US Index" futures from the
"Equity Index" futures category.
The value of the one S&P 400 MidCap futures contracts is $500 times the value of the
S&P 400 index. If for example, the S&P 400 index
(MID) is traded at $700, the
value of one future contracts gives to a furfures trader a buying power
that is equivalent to $350,000
(500 times bigger). Furthermore, if the
S&P 400 index moves up or drops down for one point, the S&P 400 Futures contract
increase or decline in its value by $500. The tick size (minimum price
fluctuation) of the S&P 400 MidCap futures contract is 0.05 which correspond to $25.00.
The S&P 400 MidCap futures are traded under the "MD" 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 MD futures contracts are classified by the month of expiration. The MD 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 MD 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 S&P 400 MidCap futures that
expire in December 2024 are traded under the "MD4Z" symbol, the
March 2025 expiration contracts are traded under the "MD5H"
symbol, June 2025 expiration S&P 400 Futures have
"MD5M" symbol and the ones that expire in September 2025 are listed
under the "MD5U" symbol.
| Ticker Symbol: | MD |
| Commodity: | S&P 400 index (MID) |
| Available for trading since: | 1992 |
| Expiration Cycle: | Four times a year on third Friday of March, June, September and December. Next four expirations are MD4Z - December 2024 MD5H - March 2025 MD5M - June 2025 MD5U - September 2025 |
| Contract Size: | $500 x S&P 400 index price |
| Minimum Tick Size: | 0.05 = $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.