CME · Equity Index · Futures
The E-mini Nasdaq-100 (NQ) tracks the 100 largest non-financial Nasdaq stocks: $20 times the Nasdaq-100, cash-settled, traded nearly 24 hours a day on CME Globex.
| Symbol | Contract | Per pt | Tick value | Size |
|---|---|---|---|---|
| NQ | E-mini Nasdaq-100 | $20.00 | $5.00 | Standard |
| MNQ | Micro E-mini Nasdaq-100 | $2.00 | $0.50 | 1/10 of NQ |
Source: CME Group contract specifications · reviewed Sep 30, 2026
| Contract | Roll date | First notice | Last trading day | Days left |
|---|---|---|---|---|
| NQZ26 Dec 2026 Active | Thu, Dec 10, 2026 | n/a | Fri, Dec 18, 2026 | 80 |
| NQH27 Mar 2027 | Thu, Mar 11, 2027 | n/a | Fri, Mar 19, 2027 | 171 |
| NQM27 Jun 2027 | Thu, Jun 10, 2027 | n/a | Thu, Jun 17, 2027 holiday-adjusted | 261 |
| NQU27 Sep 2027 | Thu, Sep 9, 2027 | n/a | Fri, Sep 17, 2027 | 353 |
| NQZ27 Dec 2027 | Thu, Dec 9, 2027 | n/a | Fri, Dec 17, 2027 | 444 |
| NQH28 Mar 2028 | Thu, Mar 9, 2028 | n/a | Fri, Mar 17, 2028 | 535 |
Roll. The industry roll date is eight calendar days before expiration (the Thursday of the prior week). Volume and open interest shift to the next quarter around this date.
First notice day. None – NQ is cash-settled, so there is no delivery process and no first notice day. Longs can hold into expiration.
Last trading day. Third Friday of the contract month. If the exchange is closed that day, trading ends on the preceding business day.
US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15 · Mar 26 · May 31 · Jun 18
Calculated from exchange rules and the US exchange holiday calendar. Confirm with the CME Group expiration calendar.
| Session | Eastern (ET) | Central (CT) | Your time |
|---|---|---|---|
| CME Globex (electronic) | Sun–Fri 6:00 p.m. – 5:00 p.m. | Sun–Fri 5:00 p.m. – 4:00 p.m. | – |
| Daily maintenance break | Mon–Thu 5:00 – 6:00 p.m. | Mon–Thu 4:00 – 5:00 p.m. | – |
| US cash session (RTH, reference) | Mon–Fri 9:30 a.m. – 4:00 p.m. | Mon–Fri 8:30 a.m. – 3:00 p.m. | – |
| Daily settlement | 4:00 p.m. | 3:00 p.m. | – |
| Last trading day close | 9:30 a.m. (third Friday) | 8:30 a.m. (third Friday) | – |
Holiday hours differ – check the CME holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).
| Contract | Long position | Short position |
|---|---|---|
| NQZ26 Dec 2026 Active | $43,079 | $41,098 |
| NQH27 Mar 2027 | $43,466 | $41,460 |
| NQM27 Jun 2027 | $43,763 | $42,010 |
| NQU27 Sep 2027 | $43,872 | $42,554 |
Exchange margins are the minimum your clearing firm must collect for positions held overnight. Brokers may require more – and usually offer much lower day-trading margins for positions closed before the session ends. A neutral broker day-margin comparison is coming soon.
−58,404 net contracts
+20,825 vs. prior week · −20.4% of OI
Movement (6 wk): −51 ±40 surge
Banks and dealers on the other side of client flow. Tend to act contrarian – selling strength, buying weakness.
+72,220 net contracts
+5,409 vs. prior week · +25.2% of OI
Movement (6 wk): +16
Pension funds, insurers, mutual funds. Structurally long; read changes against their own range, not the sign.
−30,683 net contracts
−24,296 vs. prior week · −10.7% of OI
Movement (6 wk): +55 ±40 surge
Hedge funds and CTAs. Trend followers – their net position tends to run with price and peaks near turning points.
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Dealers / Intermediaries | 57,512 | 115,916 | −58,404 | +20,825 | +4,844 | 24 | 39 | −51 |
| Asset Managers | 106,240 | 34,020 | +72,220 | +5,409 | −996 | 42 | 58 | +16 |
| Leveraged Funds | 54,033 | 84,716 | −30,683 | −24,296 | +10,549 | 71 | 55 | +55 |
| Other Reportables | 15,590 | 8,336 | +7,254 | +3,589 | +3,087 | 100 | 47 | +5 |
| Nonreportables | 40,610 | 30,997 | +9,613 | −5,527 | −17,484 | 42 | 54 | −40 |
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Commercials | 152,580 | 218,343 | −65,763 | −16,905 | −28,627 | 0 | 1 | −99 |
| Non-Commercials | 88,507 | 32,357 | +56,150 | +22,432 | +46,111 | 100 | 99 | +99 |
| Nonreportables (small) | 40,610 | 30,997 | +9,613 | −5,527 | −17,484 | 42 | 54 | −40 |
| Report date | Dealers / Intermediaries | Asset Managers | Leveraged Funds | Other Reportables | Nonreportables | Open interest |
|---|---|---|---|---|---|---|
| Sep 22, 2026 | −58,404 | +72,220 | −30,683 | +7,254 | +9,613 | 286,321 |
| Sep 15, 2026 | −79,229 | +66,811 | −6,387 | +3,665 | +15,140 | 325,784 |
| Sep 8, 2026 | −66,712 | +75,526 | −31,872 | +2,935 | +20,123 | 295,151 |
| Sep 1, 2026 | −78,774 | +71,877 | −14,092 | +1,459 | +19,530 | 300,140 |
| Aug 25, 2026 | −63,248 | +73,216 | −41,232 | +4,167 | +27,097 | 301,987 |
| Aug 18, 2026 | −35,042 | +68,332 | −61,771 | +5,718 | +22,763 | 297,931 |
| Aug 11, 2026 | +2,897 | +61,665 | −89,125 | +2,736 | +21,827 | 282,662 |
| Aug 4, 2026 | +8,749 | +64,359 | −78,333 | +6,028 | −803 | 303,624 |
| Jul 28, 2026 | −27,581 | +76,759 | −58,298 | −912 | +10,032 | 294,781 |
| Jul 21, 2026 | −5,700 | +72,625 | −74,690 | +300 | +7,465 | 286,903 |
| Jul 14, 2026 | −11,027 | +74,063 | −64,163 | −4,152 | +5,279 | 284,971 |
| Jul 7, 2026 | −30,244 | +78,970 | −55,013 | −3,354 | +9,641 | 285,086 |
Source: CFTC Public Reporting Environment · contract market code 209742 (NASDAQ MINI - CHICAGO MERCANTILE EXCHANGE)
Before commissions and exchange fees. Prices round to the nearest tick of 0.25.
One tick is 0.25 index points, worth $5.00 per contract. A full index point is worth $20.00. On the Micro E-mini Nasdaq-100 (MNQ) the same tick is worth $0.50.
Traders roll about eight days before expiration – on the Thursday of the week before the third Friday of March, June, September and December. After that date most volume trades in the next quarterly contract.
No. NQ is cash-settled against the Special Opening Quotation of the Nasdaq-100, so there is no delivery and no first notice day.
NQ trades on CME Globex Sunday to Friday from 6:00 p.m. to 5:00 p.m. ET (5:00 p.m. to 4:00 p.m. CT), with a one-hour maintenance break each day at 5:00 p.m. ET.
The COT Index places a group's current net position within its own range over a lookback window: 100 = the most net long in that window, 0 = the most net short. It measures positioning extremes, not timing.