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Showing results for tags 'rollover'.
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This reference applies to most futures traded on the Chicago Mercantile Exchange and the Chicago Board of Trade. Rollover is 8 days before contract expiration. Rollover is usually on the second Thursday of every month. However, if the first day of the month is a Friday, the rollver day will be the first Thursday of the month. Expiration day is the 3rd Friday of the following months: March, June, September, and December. The contracy symbol associated with the expiration months are: March = H, June = M, September = U, December = Z. For example, the emini S&P symbol is the ES. So the symbol the emini S&P December contract would be ESZ06. (06 being the year) Liquidity of the contract will shift on the rollover date. Make sure you trade the correct contract. You should be able to notice by the lack of liquidity in your underlying instrument. If you are swing or position trading several days before rollver, make sure to use the newer contract instead.
I notice that the ESZ4 is trading 9 points lower than the ESU4 but with the same action and higher volume. Can someone elaborate this price difference? Do the price always move in unison? SHould I be trading the ESZ4 rather than the ESU4? Are there unique oppurtunities or dangers associated with rollover? I am a begginer and this is my first rollover period. I would appreciate any veteran insights!
From Day Trading Forum - Rollover - Quick Facts & FAQs Quick Facts about Rollover Day The following applies to many (if not most) futures contracts especially those from the Chicago Mercantile Exchange (CME) and Chicago Board of Trade (CBOT). * Rollover is 8 days before expiration. * Expiration is the third Friday of each quarter month (March, June, September, December) * The contract letter associated with each month is: March=H June=M September=U December=Z * Rollover is on a Thursday. * Rollover is usually on the second Thursday of the month but will be on the first Thursday if the first day of the month falls on a Friday * Volume shifts to the new contract at market open (09:30 EST) on Rollover day * New day trading or swing trading positions opened on rollover day should use the new contract month irrespective of when you plan to close it. * New swing positions might be better opened using the new contract if opened within a few days of rollover day. * Market myths abound at rollover and expiration. Check the source and confirm the probabilities before believing anything. * Rollover Days and Volume