Understanding SPX trading hours is essential for anyone monitoring or trading products linked to the S&P 500. The S&P 500 Index, its listed options, and its futures contracts do not all follow the same trading schedule. Cboe operates the main SPX options sessions, while CME Group operates popular S&P 500 futures such as ES and MES.
Knowing which financial instrument you are following helps you interpret overnight movements, liquidity changes, and holiday schedules correctly. This guide explains the main sessions and how traders using Evest can verify the hours of the specific instrument available on the platform.
SPX Trading Hours
The table below separates the main S&P 500-related instruments and their standard trading schedules.
| Instrument | Symbol | Market | Main Trading Hours |
|---|---|---|---|
| S&P 500 Index | SPX | Reference index | Primarily calculated during the regular U.S. stock market session |
| S&P 500 Index Options | SPX and SPXW | Cboe | 9:30 a.m.–4:15 p.m. ET during Regular Trading Hours |
| SPX Global Trading Hours | SPX and SPXW | Cboe | 8:15 p.m.–9:25 a.m. ET |
| SPX Curb Session | SPX and SPXW | Cboe | 4:15 p.m.–5:00 p.m. ET |
| E-mini S&P 500 Futures | ES | CME Globex | Sunday 6:00 p.m.–Friday 5:00 p.m. ET, with a daily maintenance period |
| Micro E-mini S&P 500 Futures | MES | CME Globex | Similar to the ES futures schedule |
| Evest S&P 500-related instrument | SPX500 | Evest platform | According to the instrument specifications displayed on the platform |
Cboe and CME may modify their schedules during public holidays, early-closing sessions, technical events, or special market conditions. Traders should therefore verify the relevant exchange calendar and platform specifications before placing an order.
What Is SPX?
SPX is the commonly used ticker for the S&P 500 Index. The index measures the performance of 500 leading U.S. companies and represents approximately 80% of the available market capitalization of the U.S. equity market. It is widely used as a benchmark for evaluating the performance of large-cap U.S. stocks.
The index itself is not a company share that investors can directly buy or sell. Instead, market participants may gain exposure to its movements through different products, including:
- SPX index options.
- S&P 500 futures.
- Exchange-traded funds such as SPY.
- Index-based contracts for difference.
- Other financial products linked to the index.
These products may track the same underlying market, but they differ in trading hours, contract size, settlement method, risk, pricing, and regulatory structure.
SPX Options Trading Sessions
SPX options are exchange-listed options based on the value of the S&P 500 Index. They are cash-settled, meaning settlement does not involve delivering shares of the 500 companies included in the index.
Cboe divides SPX options trading into three principal sessions.
Global Trading Hours
The Global Trading Hours session generally runs from 8:15 p.m. to 9:25 a.m. ET.
This session allows eligible market participants to respond to developments occurring outside the regular U.S. trading day, including movements in Asian and European markets, geopolitical events, and economic announcements.
Although the session extends overnight access, it should not be described as continuous 24-hour trading. There are scheduled gaps between the different sessions, and access may depend on the broker or trading service used.
Regular Trading Hours
Regular Trading Hours for SPX options generally run from 9:30 a.m. to 4:15 p.m. ET.
This is the main session for listed SPX options and overlaps with the regular U.S. stock market session. Trading activity and available liquidity may vary during the day according to market conditions, economic announcements, and institutional participation.
Curb Session
The electronic Curb session generally runs from 4:15 p.m. to 5:00 p.m. ET.
It follows the regular session and provides an additional period in which eligible traders may adjust, close, or manage certain positions. Activity during the Curb session is associated with the preceding regular-session trade date.
Are SPX Options Traded 24 Hours a Day?
SPX options are available for nearly 24 hours during eligible business days, but they are not traded continuously 24 hours a day, seven days a week.
Cboe provides overnight, regular, and Curb sessions, with short scheduled gaps between them. Trading is also affected by weekends, exchange holidays, modified sessions, and the availability provided by an individual broker.
For this reason, “nearly 24 hours, five days a week” is more accurate than describing SPX options as a fully continuous market.
SPX Options vs. S&P 500 Futures Trading Hours
SPX options and S&P 500 futures are separate financial products traded on different exchanges.
SPX and SPXW options are listed on Cboe. E-mini S&P 500 futures, commonly identified by the symbol ES, and Micro E-mini S&P 500 futures, identified by MES, are traded through CME Globex.
E-mini S&P 500 futures generally trade from Sunday at 6:00 p.m. ET until Friday at 5:00 p.m. ET, with a daily maintenance period from 5:00 p.m. to 6:00 p.m. ET. This means futures provide approximately 23 hours of access on most trading days.
| Feature | SPX Options | E-mini S&P 500 Futures |
|---|---|---|
| Common symbol | SPX or SPXW | ES |
| Main exchange | Cboe | CME Globex |
| Product type | Index option | Futures contract |
| Settlement | Cash-settled | Cash-settled |
| Main regular session | 9:30 a.m.–4:15 p.m. ET | Approximately 23 hours on most business days |
| Overnight access | Through Global Trading Hours | Through CME Globex |
| Daily interruptions | Gaps between Cboe sessions | Daily maintenance period |
Calling ES contracts “SPX futures” may create confusion. A clearer description is “S&P 500 futures” or “E-mini S&P 500 futures.”
Expiration-Day Trading Hours
Expiration rules can differ according to the specific SPX option series.
Traditional monthly SPX contracts are generally associated with AM settlement, while many SPXW weekly and end-of-month contracts use PM settlement. The final trading time may therefore differ according to the contract and expiration date.
For example, certain expiring AM-settled SPX options may stop trading at 9:25 a.m. ET on their expiration date. Traders should check the contract symbol, settlement style, expiration calendar, and Cboe specifications rather than assuming every SPX option closes at the same time.
How Holidays Affect Trading Hours?
U.S. market holidays can result in a full closure, an early close, a shortened overnight session, or a modified trading schedule.
The exact arrangement is not identical every year. Cboe may modify SPX options sessions, while CME publishes a separate holiday calendar for futures contracts.
Because these adjustments are date-specific, traders should avoid relying on a permanent list of holiday hours. The safer approach is to check the official calendar for the relevant year and confirm the schedule shown by their trading provider.
Why Trading Hours Matter?
Trading hours can influence liquidity, spreads, volatility, and the speed at which an order is executed.
During periods of stronger participation, a market may offer more active price discovery. During quieter overnight sessions, liquidity conditions may differ, and price movements may react more sharply to new information.
Important events that can affect S&P 500-related products include:
- U.S. inflation data.
- Employment reports.
- Federal Reserve decisions.
- Corporate earnings announcements.
- Geopolitical developments.
- Movements in international equity markets.
An extended session gives traders more time to respond, but it does not remove market risk. Lower liquidity, wider spreads, slippage, and rapid price changes may still occur.
Understanding Eastern Time and Daylight Saving Time
Official U.S. trading schedules are usually published in Eastern Time.
Eastern Time changes between Eastern Standard Time and Eastern Daylight Time during the year. As a result, the equivalent trading time in another country may shift even when the published U.S. session remains unchanged.
Traders outside the United States should therefore check whether daylight saving time is active before converting a session into their local time. Using one fixed conversion throughout the year can lead to entering the market one hour earlier or later than intended.
Following the S&P 500 with Evest
Evest displays the S&P 500-related instrument under the symbol SPX500 and provides access to index market data through its trading platform. Evest also describes contracts for difference as derivative products that allow users to speculate on movements in an underlying asset or index without directly owning it.
The hours shown for an Evest instrument should not automatically be assumed to match every Cboe SPX options session or CME futures session. The available product may have its own quotation hours, trading breaks, spreads, overnight conditions, and contract terms.
Before trading SPX500 through Evest, users should review:
- The exact instrument name and product type.
- The platform’s displayed trading hours.
- Scheduled daily breaks.
- Applicable spreads and fees.
- Margin and leverage requirements.
- Holiday schedule changes.
- Risk warnings and contract specifications.
This distinction is important because monitoring the SPX index, trading listed SPX options, trading ES futures, and trading an index-based CFD are not the same activity.
FAQs
What time do SPX options open and close?
SPX options generally trade during Global Trading Hours from 8:15 p.m. to 9:25 a.m. ET, Regular Trading Hours from 9:30 a.m. to 4:15 p.m. ET, and the Curb session from 4:15 p.m. to 5:00 p.m. ET. Holiday and expiration schedules may differ.
Can SPX options be traded overnight?
Yes. Cboe provides a Global Trading Hours session for SPX and SPXW options. However, access depends on the broker, and overnight liquidity and spreads may differ from conditions during the regular session.
Is SPX the same as E-mini S&P 500 futures?
No. SPX refers to the S&P 500 Index, while ES refers to an E-mini S&P 500 futures contract traded on CME Globex. The two products are related to the same underlying market but have different structures, exchanges, trading hours, and contract rules.
Do SPX options follow the regular stock market closing time?
Not exactly. The regular U.S. stock market generally closes at 4:00 p.m. ET, while the standard Regular Trading Hours session for SPX options continues until 4:15 p.m. ET. A separate Curb session may then continue until 5:00 p.m. ET.
What are the SPX500 trading hours on Evest?
The exact schedule should be confirmed through the instrument specifications displayed on the Evest platform. The platform’s SPX500 product should not automatically be treated as a Cboe-listed SPX option or a CME-listed futures contract, because each product may follow different trading terms.