Lanceljx
10-15 11:17
I picked the CME Micro E-mini S&P 500 (MES).

Contract size: US$5 × S&P 500 Index
Minimum tick: 0.25 index point
Tick value: US$1.25
Expiry: Quarterly, on the third Friday of Mar, Jun, Sep and Dec.

At an index level around 7,765, one contract has about US$38,825 notional exposure.

• 1 tick = US$1.25
• 1% move = 77.65 points × US$5 = about US$388.25 gain or loss

Margin varies over time and by broker, so I would check the current requirement before trading rather than treat it as fixed.

I would be more comfortable with MES than the full-size E-mini. The smaller multiplier gives much better control over position sizing and losses while still providing S&P 500 exposure. Leverage still means even a Micro contract needs strict risk management.

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