On this page
Contract specifications
- Contract symbol
- ESZ8
- Product
- E-mini S&P 500 (ES)
- Exchange
- CME
- Delivery month
- December 2028 (code Z)
- Last trading day
- December 15, 2028
- Default rolls on
- December 7, 2028 (8 days before)
- Tick size
- 0.25
- Tick value
- $12.50
- Point value
- $50.00
- Next delivery
- first 2029 contract
When ESZ8 stops trading
Trading terminates at 9:30 a.m. ET on the third Friday of the contract month. For ESZ8 that falls on December 15, 2028.
Senzoukria stops offering ESZ8 as the default contract on December 7, 2028, 8 calendar days before that last trading day, and keeps it selectable with a badge. The date is computed from the exchange rule rather than stored. The engine counts Monday to Friday and holds no CME holiday table, so a date that falls next to a public holiday can be one day off the exchange calendar. Check the exchange calendar when the date sits close to a holiday.
When the volume actually leaves
Equity index liquidity moves to the next quarter in a single week, usually the one that contains the roll date. Order flow read on the old contract after that week is thin and misleading: the book empties, prints get sparse, and a footprint built on it shows gaps that are an artefact of the roll rather than of the auction.
ESZ8 is the last 2028 delivery listed for ES, so the volume moves into the first 2029 contract.
What one tick is worth on ESZ8
The minimum price fluctuation is 0.25, which is $12.50 per contract on a multiplier of 50. A full point is therefore $50.00. On a footprint chart one row is one tick, so the same vertical space holds a different number of rows depending on the product: a tick of 0.25 sets how finely the bid and ask volume of ES can be read.
These are the values the app itself trades on, taken from its contract table rather than retyped, so the P&L shown on a ESZ8 position and the rows of its footprint come from the same numbers.
Every ES delivery listed in 2028
ES lists 4 delivery months a year (H, M, U, Z). ESZ8 is number 4 of 4 in 2028.
| Contract | Delivery | Last trading day | Default rolls on |
|---|---|---|---|
| ESH8 | Mar 2028 | Mar 17, 2028 | Mar 9, 2028 |
| ESM8 | Jun 2028 | Jun 16, 2028 | Jun 8, 2028 |
| ESU8 | Sep 2028 | Sep 15, 2028 | Sep 7, 2028 |
| ESZ8 (this page) | Dec 2028 | Dec 15, 2028 | Dec 7, 2028 |
ESZ8 and MESZ8 side by side
ES and MES track the same underlying, but ES is 10 times the size of MES: $12.50 a tick against $1.25. Both quote on the same 0.25 tick. ESZ8 and MESZ8 share the same last trading day, December 15, 2028, so a position in either rolls on the same date.
The practical difference is position sizing rather than behaviour. MES lets a 10-contract position carry the same exposure as one ES, which makes partial exits possible on a small account; ES carries the deeper book, so its footprint and its depth of market are the ones to read even when the position is held in MES.
Related pages
- ES — E-mini S&P 500
- Contract roll
- Futures month codes
- Tick value
- Front month contract
- Quarterly expiry
- AM/PM settlement
- MES — Micro E-mini S&P 500
- ESH9
- ESU8
- ES 2028
- MESZ8
In the same section
This page in other languages
Frequently asked questions
- When does ESZ8 expire?
- The last trading day of ESZ8 is December 15, 2028. Trading terminates at 9:30 a.m. ET on the third Friday of the contract month.
- When should I roll out of ESZ8?
- The app switches its default to the next listed month on December 7, 2028. In practice the volume moves before the calendar does, so compare the traded volume and open interest of the two months rather than waiting for the last trading day.
- How much is one tick of ESZ8 worth?
- One tick of 0.25 is $12.50 per contract, and a full point is $50.00, on a multiplier of 50.