Help on the Standard and Poors 500 Stock Index (SP)

S&P 500 Futures are traded on the Chicago Mercantile Exchange. The price of the S&P 500 is quoted in terms of Points. The standard contract size is 250 times the Index (please note, the contract size was cut in half in 1998, to increase liquidity and ease of use). The minimum trading increment is 0.05

S&P 500 prices are read as follows:

A price of 1140.75 would be read as 1,140.75 points

A move from 1140.75 to 1141.75 would be a difference of $250.00 excluding commissions and fees. The minimum change is 0.25 point or $12.50

Formula: 1141.75 - 1140.75 = 1.00 * 250 = $250.00

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