Uncovered Options Trading System
Category: Equity Index Futures / US Index Futures
The NASDAQ 100 Index Futures have been developed to track the price (performance) of the NASDAQ 100 Index
(NDX). They were introduced and become available for trading in 1996 year. The NASDAQ 100 Futures are traded on
the Chicago Merchandise Exchange (CME).
The NASDAQ 100 Index Futures belongs to the group of the "US Index" futures from the
"Equity Index" futures category.
The value of the one NASDAQ 100 Index Futures contracts is $100 times the value of the
NASDAQ 100 Index. If for example, the NASDAQ 100 Index
(NDX) is traded at $1,900, the
value of one future contracts gives to a furfures trader a buying power
that is equivalent to $190,000
(100 times bigger). Furthermore, if the
NASDAQ 100 Index moves up or drops down for one point, the NASDAQ 100 Futures contract
increase or decline in its value by $100. The tick size (minimum price
fluctuation) of the NASDAQ 100 Index Futures contract is 0.25 which correspond to $25.00.
The NASDAQ 100 Index Futures are traded under the "ND" 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 ND futures contracts are classified by the month of expiration. The ND 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 ND 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 NASDAQ 100 Index Futures that
expire in December 2024 are traded under the "ND4Z" symbol, the
March 2025 expiration contracts are traded under the "ND5H"
symbol, June 2025 expiration NASDAQ 100 Futures have
"ND5M" symbol and the ones that expire in September 2025 are listed
under the "ND5U" symbol.
| Ticker Symbol: | ND |
| Commodity: | NASDAQ 100 Index (NDX) |
| Available for trading since: | 1996 |
| Expiration Cycle: | Four times a year on third Friday of March, June, September and December. Next four expirations are ND4Z - December 2024 ND5H - March 2025 ND5M - June 2025 ND5U - September 2025 |
| Contract Size: | $100 x NASDAQ 100 Index price |
| Minimum Tick Size: | 0.25 = $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.