Special Opening Quotation (SOQ)

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Definition of 'Special Opening Quotation (SOQ)'

Also referred to as SOQ or S.O.Q. (Specific for CME)

Special Opening Quotations of the indexes generally will be based on the opening values of the component stocks, regardless of when those stocks open on expiration day. However, if a stock does not open on that day, its last sale price will be used in the Special Opening Quotation. The Special Opening Quotation may or may not be within the cash index prices on expiration day.

CME disseminates periodic updates of the S&P 500 and S&P MidCap 400 Special Opening Quotations on the ticker as a text message. These quotations are based on the opening prices for those stocks that have opened by that time and the last sale price for those stocks that have yet to open. The Russell 2000 final Special Opening Quotation typically is not received by the Exchange until 4:00 p.m. Chicago time, due to the large number of stocks. However, a preliminary indication with the percent of stocks open is usually available by 1:00 p.m. Chicago time on expiration day.

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