Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Please remember tomorrow is roll-over day for Stock Index Futures. Please read below for details.
For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones, as well as any of the “Big” pit-traded stock index futures, it is extremely important to remember that tomorrow, Thursday, June 13th, is rollover day.
Starting tomorrow, Thursday June 13th, the September ‘13 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the September ‘13 contracts as of tomorrow. Volume in the June ‘13 contracts will begin to drop off until their expiration next Friday, June 21st.
Please consider carefully how you place orders in the E-mini S&P, E-mini Nasdaq, Mini $5 Dow Jones and E-mini Russell 2000 contracts. While the E-mini rollover occurs tomorrow at 8:30 A.M. Central Time, orders placed this afternoon and evening after the 5:00 P.M. Central Time opening (before rollover) will work through tomorrow’s 4:15 Central Time close (after rollover).
The month code for September is ‘U.’
Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.
An additional note regarding the “Big” pit-traded stock index futures:
Please be aware of liquidity issues in the June ‘13 pit-traded contracts. Expect sharply decreased liquidity beginning Friday morning. Carefully consider whether you wish to place Market or Stop orders in these contracts after that time. The executing brokers in the June contracts of the “Big” pit-traded stock indexes will not be “held” on ANY order. They will not take Cancel and Replace orders at all beginning Friday June 14th.
For more information, here’s the link to the CME web site http://www.cmegroup.com/trading/equity-index/files/Rollover_Dates.pdf.
Feel free to contact our office for any further clarification or assistance.
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- Phone: 800 – 454 – 9572 | 310 – 859 – 9572
The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The closing times for certain contracts may have been rescheduled.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.