Uncovered Options Trading System
Category: Equity Index Futures / US Index Futures
The QCN NASDAQ Composite futures have been developed to track the price (performance) of the NASDAQ Composite index
(COMP). They were introduced and become available for trading in 2003 year. The NASDAQ are traded on
the Chicago Merchandise Exchange (CME).
The QCN NASDAQ Composite futures belongs to the group of the "US Index" futures from the
"Equity Index" futures category.
The value of the one QCN NASDAQ Composite futures contracts is $20 times the value of the
NASDAQ Composite index. If for example, the NASDAQ Composite index
(COMP) is traded at $2,500, the
value of one future contracts gives to a furfures trader a buying power
that is equivalent to $50,000
(20 times bigger). Furthermore, if the
NASDAQ Composite index moves up or drops down for one point, the NASDAQ contract
increase or decline in its value by $20. The tick size (minimum price
fluctuation) of the QCN NASDAQ Composite futures contract is 0.5 which correspond to $10.00.
The QCN NASDAQ Composite futures are traded under the "QCN" symbol and the regular
trading hours for futures are from 5 p.m. EST to 3:15 p.m. EST on the next trading
day. The QCN futures contracts are classified by the month of expiration. The QCN futures expire on the third Friday of March, June, September and December. Based
on the expiration, the year's number and month's letter are added to the futures
symbol for its identification.
The QCN futures that expire in March have "H"
letter added, June expiration futures have "M" letter added, for September
expiration futures "U" letter is used and those futures that expire in December
have "Z" letter added at the end. Furthermore, the QCN NASDAQ Composite futures that
expire in June 2024 are traded under the "QCN4M" symbol, the
September 2024 expiration contracts are traded under the "QCN4U"
symbol, December 2024 expiration NASDAQ have
"QCN4Z" symbol and the ones that expire in March 2025 are listed
under the "QCN5H" symbol.
| Ticker Symbol: | QCN |
| Commodity: | NASDAQ Composite index (COMP) |
| Available for trading since: | 2003 |
| Expiration Cycle: | Four times a year on third Friday of March, June, September and December. Next four expirations are QCN4M - June 2024 QCN4U - September 2024 QCN4Z - December 2024 QCN5H - March 2025 |
| Contract Size: | $20 x NASDAQ Composite index price |
| Minimum Tick Size: | 0.5 = $10.00 |
| Traded on: | Chicago Merchandise Exchange (CME) |
Naked options trading is very risky - many people lose money trading them. It is recommended contacting your broker or investment professional to find out about trading risk and margin requirements before getting involved into trading uncovered options.