Equity Index Options Variable Tick Expansion
Starting January 2026, CME Group will expand variable tick levels from two tick sizes to four tick sizes for the following Equity Index options: Russell 2000, Nasdaq-100 and S&P 500 options on CME Globex.
Contents
Revision History
Date | Description |
|---|---|
November 12, 2025 | Key Events and Date changed to include Reference Data API Support Availability. |
November 11, 2025 | Key Events and Date changed for New Release Launch on Thursday, November 13, for all option products: Russell 2000, Nasdaq-100, S&P 500. |
October 30, 2025 |
|
October 29, 2025 | Initial publication of this pending client impact topic. |
Key Events and Dates
Product | Date | Milestone |
|---|---|---|
Russell 2000 Options | TBA | Reference Data API Support Availability |
Thursday, November 13 | CME Direct New Release Support Availability | |
Sunday, November 9 | New Release Launch | |
Friday, January 9 | GT order Cancellations | |
Sunday, January 11 | Production Launch | |
Nasdaq-100 Options | TBA | Reference Data API Support Availability |
Thursday, November 13 | CME Direct New Release Support Availability | |
Sunday, November 9 | New Release Launch | |
Friday, January 23 | GT order Cancellations | |
Sunday, January 25 | Production Launch | |
S&P 500 Options | TBA | Reference Data API Support Availability |
Thursday, November 13 | CME Direct New Release Support Availability | |
Sunday, November 9 | New Release Launch | |
Friday, January 30 | GT order Cancellations | |
Sunday, February 1 | Production Launch |
Testing and Certification
Certification is not required for customer systems already certified to MDP 3.0.
Summary of Impacts
Expand the variable ticks from 2 levels to 4 for the following:
RY Options (Product Group: R4 and UDS: R5)
NQ Options (Product Groups: NW & NE and UDS: 2V and UDS: NF)
ES Options (Product Groups: EW & EO and UDS: S9, UDS: 1V, and UDS: EN)
Good Till Cancel (GTC) and Good Till Date (GTD) cancellations
BX Box Spread type (BX) will be priced at 0.05 regardless of premium
Impacted Products
The following products will have new variable tick values.
See index code details in the Variable Tick Table (VTT). Tag 6350-TickRule will contain the VTT index codes, and when tag 6350-TickRule = null, the instrument is not VTT eligible.
For all S&P 500, Nasdaq-100, and Russell 2000 options, the BX Box Spread type (BX) will be priced at 0.05 regardless of premium. All other strategies with this change will follow the new VTT expanded pricing.
Russell 2000 Options
Product | MDP 3.0: Tag 6937-Asset | iLink/MDP 3.0 Tag 1151 - Security Group | iLink/MDP 3.0 Tag 1151 - Security Group (UDS) | Current VTT Code | New VTT Code | Market Data Channel |
|---|---|---|---|---|---|---|
E-mini Russell 2000 Options | RTO | R4
| R5 | 1 | 17 | 319 |
E-mini Russell 2000 EOM Options | RTM | |||||
E-mini Russell 2000 Monday Weekly Options - Week 1 | R1A | |||||
E-mini Russell 2000 Monday Weekly Options - Week 2 | R2A | |||||
E-mini Russell 2000 Monday Weekly Options - Week 3 | R3A | |||||
E-mini Russell 2000 Monday Weekly Options - Week 4 | R4A | |||||
E-mini Russell 2000 Monday Weekly Options - Week 5 | R5A | |||||
E-mini Russell 2000 Tuesday Weekly Options - Week 1 | R1U | |||||
E-mini Russell 2000 Tuesday Weekly Options - Week 2 | R2U | |||||
E-mini Russell 2000 Tuesday Weekly Options - Week 3 | R3U | |||||
E-mini Russell 2000 Tuesday Weekly Options - Week 4 | R4U | |||||
E-mini Russell 2000 Tuesday Weekly Options - Week 5 | R5U | |||||
E-mini Russell 2000 Wednesday Weekly Options - Week 1 | R1C | |||||
E-mini Russell 2000 Wednesday Weekly Options - Week 2 | R2C | |||||
E-mini Russell 2000 Wednesday Weekly Options - Week 3 | R3C | |||||
E-mini Russell 2000 Wednesday Weekly Options - Week 4 | R4C | |||||
E-mini Russell 2000 Wednesday Weekly Options - Week 5 | R5C | |||||
E-mini Russell 2000 Thursday Weekly Options - Week 1 | R1D | |||||
E-mini Russell 2000 Thursday Weekly Options - Week 2 | R2D | |||||
E-mini Russell 2000 Thursday Weekly Options - Week 3 | R3D | |||||
E-mini Russell 2000 Thursday Weekly Options - Week 4 | R4D | |||||
E-mini Russell 2000 Thursday Weekly Options - Week 5 | R5D | |||||
E-mini Russell 2000 Friday Weekly Options - Week 1 | R1E | |||||
E-mini Russell 2000 Friday Weekly Options - Week 2 | R2E | |||||
E-mini Russell 2000 Friday Weekly Options - Week 3 | R3E | |||||
E-mini Russell 2000 Friday Weekly Options - Week 4 | R4E |
Good Till Cancel (GTC) and Good Till Date (GTD) Cancellation
To facilitate the change, customers are asked to cancel all Good Till Cancel (GTC) and Good Till Date (GTD) orders after the close on Friday, January 8. After 16:00 CT on the Friday, January 8, all GT orders for these options will be canceled or deleted by the CME Global Command Center (GCC).
Nasdaq-100 Options
Product | MDP 3.0: Tag 6937-Asset | iLink/MDP 3.0 Tag 1151 - Security Group | iLink/MDP 3.0 Tag 1151 - Security Group (UDS) | Current VTT Code | New VTT Code | Market Data Channel |
|---|---|---|---|---|---|---|
E-mini Nasdaq-100 Options | NQ | NW | 2V | 4 | 18 | 319 |
E-mini Nasdaq-100 EOM Options | QNE | |||||
E-mini Nasdaq-100 Monday Weekly Options - Week 1 | Q1A | |||||
E-mini Nasdaq-100 Monday Weekly Options - Week 2 | Q2A | |||||
E-mini Nasdaq-100 Monday Weekly Options - Week 3 | Q3A | |||||
E-mini Nasdaq-100 Monday Weekly Options - Week 4 | Q4A | |||||
E-mini Nasdaq-100 Monday Weekly Options - Week 5 | Q5A | |||||
E-mini Nasdaq-100 Tuesday Weekly Options - Week 1 | Q1B | |||||
E-mini Nasdaq-100 Tuesday Weekly Options - Week 2 | Q2B | |||||
E-mini Nasdaq-100 Tuesday Weekly Options - Week 3 | Q3B | |||||
E-mini Nasdaq-100 Tuesday Weekly Options - Week 4 | Q4B | |||||
E-mini Nasdaq-100 Tuesday Weekly Options - Week 5 | Q5B | |||||
E-mini Nasdaq-100 Wednesday Weekly Options - Week 1 | Q1C | |||||
E-mini Nasdaq-100 Wednesday Weekly Options - Week 2 | Q2C | |||||
E-mini Nasdaq-100 Wednesday Weekly Options - Week 3 | Q3C | |||||
E-mini Nasdaq-100 Wednesday Weekly Options - Week 4 | Q4C | |||||
E-mini Nasdaq-100 Wednesday Weekly Options - Week 5 | Q5C | |||||
E-mini Nasdaq-100 Thursday Weekly Options - Week 1 | Q1D | |||||
E-mini Nasdaq-100 Thursday Weekly Options - Week 2 | Q2D | |||||
E-mini Nasdaq-100 Thursday Weekly Options - Week 3 | Q3D | |||||
E-mini Nasdaq-100 Thursday Weekly Options - Week 4 | Q4D | |||||
E-mini Nasdaq-100 Thursday Weekly Options - Week 5 | Q5D | |||||
E-mini Nasdaq-100 Friday Weekly Options - Week 1 | QN1 | |||||
E-mini Nasdaq-100 Friday Weekly Options - Week 2 | QN2 | |||||
E-mini Nasdaq-100 Friday Weekly Options - Week 3 | QN3 | |||||
E-mini Nasdaq-100 Friday Weekly Options - Week 4 | QN4 | |||||
Micro E-mini Nasdaq-100 Options | MNQ | NE | NF | 4 | 18 | 319 |
Micro E-mini Nasdaq-100 Index EOM Options | MQE | |||||
Micro E-mini Nasdaq-100 Monday Weekly Options - Week 1 | D1A | |||||
Micro E-mini Nasdaq-100 Monday Weekly Options - Week 2 | D2A | |||||
Micro E-mini Nasdaq-100 Monday Weekly Options - Week 3 | D3A | |||||
Micro E-mini Nasdaq-100 Monday Weekly Options - Week 4 | D4A | |||||
Micro E-mini Nasdaq-100 Monday Weekly Options - Week 5 | D5A | |||||
Micro E-mini Nasdaq-100 Tuesday Weekly Options - Week 1 | D1B | |||||
Micro E-mini Nasdaq-100 Tuesday Weekly Options - Week 2 | D2B | |||||
Micro E-mini Nasdaq-100 Tuesday Weekly Options - Week 3 | D3B | |||||
Micro E-mini Nasdaq-100 Tuesday Weekly Options - Week 4 | D4B | |||||
Micro E-mini Nasdaq-100 Tuesday Weekly Options - Week 5 | D5B | |||||
Micro E-mini Nasdaq-100 Wednesday Weekly Options - Week 1 | D1C | |||||
Micro E-mini Nasdaq-100 Wednesday Weekly Options - Week 2 | D2C | |||||
Micro E-mini Nasdaq-100 Wednesday Weekly Options - Week 3 | D3C | |||||
Micro E-mini Nasdaq-100 Wednesday Weekly Options - Week 4 | D4C | |||||
Micro E-mini Nasdaq-100 Wednesday Weekly Options - Week 5 | D5C | |||||
Micro E-mini Nasdaq-100 Thursday Weekly Options - Week 1 | D1D | |||||
Micro E-mini Nasdaq-100 Thursday Weekly Options - Week 2 | D2D | |||||
Micro E-mini Nasdaq-100 Thursday Weekly Options - Week 3 | D3D | |||||
Micro E-mini Nasdaq-100 Thursday Weekly Options - Week 4 | D4D | |||||
Micro E-mini Nasdaq-100 Thursday Weekly Options - Week 5 | D5D | |||||
Micro E-mini Nasdaq-100 Weekly Options - Week 1 | MQ1 | |||||
Micro E-mini Nasdaq-100 Weekly Options - Week 2 | MQ2 | |||||
Micro E-mini Nasdaq-100 Weekly Options - Week 3 | MQ3 | |||||
Micro E-mini Nasdaq-100 Weekly Options - Week 4 | MQ4 |
Good Till Cancel (GTC) and Good Till Date (GTD) Cancellation
To facilitate the change, customers are asked to cancel all Good Till Cancel (GTC) and Good Till Date (GTD) orders after the close on Friday, January 23. After 16:00 CT on the Friday, January 23, all GT orders for these options will be canceled or deleted by the CME Global Command Center (GCC).
S&P 500 Options
Product | MDP 3.0: Tag 6937-Asset | iLink/MDP 3.0 Tag 1151 - Security Group | iLink/MDP 3.0 Tag 1151 - Security Group (UDS) | Current VTT Code | New VTT Code | Market Data Channel |
|---|---|---|---|---|---|---|
S&P 500 Month-End Options | SME | S5 | S9 | 15 | 17 | 319 |
E-mini S&P 500 Options | ES | EW
| 1V
| 15 | 17 | 311 |
E-mini S&P 500 EOM Options | EW | |||||
E-mini S&P 500 Monday Weekly Options - Week 1 | E1A | |||||
E-mini S&P 500 Monday Weekly Options - Week 2 | E2A | |||||
E-mini S&P 500 Monday Weekly Options - Week 3 | E3A | |||||
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