ES - E-mini S&P 500 Futures
CME E-mini S&P 500 futures (ES): the most liquid US equity index futures contract, tracking the S&P 500 index. Used for index hedging, directional speculation, and as the primary delivery instrument for SPX-related options strategies.
As of May 29, 2026: spot at $68.44, ATM IV 21.9%, max pain $70.00, net GEX $1.6M.
- Sector
- Equity Index Futures
- Industry
- Equity Index Futures
- Exchange
- CME
What ES Looks Like to Options Traders Today
IV rank of 2.4% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); positive net gamma exposure ($1.6M) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (0.027) prices calls richer than puts, often reflecting upside speculation or squeeze risk.
What This Page Covers
The ES overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks.
Frequently asked ES overview questions
- What is ES?
- ES is the ticker symbol for E-mini S&P 500 Futures, a listed futures contract. CME E-mini S&P 500 futures (ES): the most liquid US equity index futures contract, tracking the S&P 500 index. Used for index hedging, directional speculation, and as the primary delivery instrument for SPX-related options strategies. Listed on CME. ES is the listed futures symbol shown on this page; futures traders use the contract for directional exposure, hedging the underlying instrument, and as the delivery instrument for options-on-futures structures.
- What does the ES options snapshot look like today?
- As of May 29, 2026, the ES options snapshot shows spot at $68.44, ATM IV 21.9%, IV rank 2.4%, max pain $70.00, net GEX $1.6M, expected move 6.28%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are ES's key statistics?
- E-mini S&P 500 Futures (ES) carries a CME-listed E-mini S&P 500 Futures contract with a $50 per index point point value and 0.25 index points tick. Full contract specifications including settlement convention, tick size, and curve term-structure context are on the contract reference block above. Options-on-futures pricing references these spec fields directly via the multiplier and exchange contract rules.
- What does the ES futures curve look like?
- ES represents the E-mini S&P 500 Futures contract root on the CME, a Equity Index Futures listing. The full curve consists of multiple monthly (and occasionally quarterly) expirations stretching out the calendar; analytics on this page reference the front-month listing by default while the per-contract pages cover specific listed months. Each listed month carries its own implied-volatility surface, open-interest distribution, and basis to the underlying. The front-month contract typically dominates volume; back-month listings price the term structure of the underlying's expected volatility and (for physically-delivered contracts) the carry between spot and forward.
- How current is the ES data on this page?
- The options snapshot above is dated May 29, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Contract specifications come from the listing exchange (CME / CBOT / NYMEX / COMEX / CFE) and do not change over the life of the contract once listed. Options-on-futures data, when available, refreshes after each trading session. There is no equity-style FINRA reporting or sell-side analyst coverage for futures contracts.