Micro E-mini Dow (MYM)

What MYM tracks

MYM is the Micro E-mini Dow futures contract, listed on CBOT. It follows the Dow Jones Industrial Average at one-tenth the size of YM, so each index point is worth $0.50.

MYM has the lowest dollar value per point of the four Micro E-mini equity index contracts. That makes it useful for practicing, for testing a strategy with real fills, or for adding exposure in very small steps.

MYM contract specifications

Specifications come from CME Group: CBOT Rulebook Chapter 28, CME Micro E-mini FAQ. CME can change trading hours, listed months and other terms, and holiday schedules differ, so confirm the details on CME Group's site before you trade.

What moves MYM

Several forces tend to drive MYM prices. None of them predicts direction on its own, and they often pull in different ways at the same time.

• Economic data. Releases such as the monthly jobs report, CPI inflation and retail sales can move index futures sharply in the minutes after 8:30 a.m. ET.
• Federal Reserve policy. Rate decisions, meeting minutes and speeches by Fed officials change expectations for borrowing costs and stock valuations.
• Overnight news. Because futures trade nearly around the clock, they react to news from Asia and Europe before the US stock market opens.
• High-priced Dow components. The Dow is price-weighted, so stocks with high share prices drive more of its moves.

Example P&L math

Say MYM rises 100 points while you hold one long contract. That is 100 ticks of $0.50:

• 100 ticks × $0.50 = $50 per contract.
• A short position would lose the same $50. Losses and gains are symmetric before costs.
• On the full-size contract, E-mini Dow (YM), the same move is worth $500.

These figures exclude commissions, exchange fees and slippage. Those costs shrink a winning trade and add to a losing one.

To run your own numbers, use the tick value calculator and the position size calculator on our tools page.

Margin

CME Group sets minimum performance bonds (margins) for every contract, and each broker then sets its own requirement, which can be higher. Many brokers also offer lower day-trading margins for positions closed before the session ends. These figures change often, especially when markets get volatile, so we do not quote a number here. Check your broker's current margin page before you trade, and compare brokers on our futures brokers page. Remember that margin is not the most you can lose. Losses on a futures position can exceed the margin you deposit.

MYM vs YM

Both contracts follow the same market, so the chart looks the same. The difference is dollar size. MYM is one-tenth of YM, which means ten MYM contracts carry about the same exposure as one YM.

When MYM fits: smaller accounts, learning, testing a strategy with real fills, scaling in and out in small steps, and prop firm accounts with tight daily loss limits. When YM fits: larger accounts where the per-contract cost of trading matters, since one YM usually costs less in commissions and fees than ten MYM contracts. A larger contract also means each mistake costs ten times as much, so only step up when your stop sizes and account size support it.

Position sizing

A common approach is to decide how many dollars you are willing to lose on a trade, then work out how many contracts fit. For example, with $200 of planned risk and a 40-point stop on MYM, each contract risks $20, so 10 contracts fit within that limit.

This example ignores commissions, fees and slippage, which make real losses larger. Stops can also fill worse than planned in fast markets.

Expiry and rolling

MYM is cash-settled, so there is no physical delivery. If you hold to the end, your position closes at the final settlement price. Most active traders still roll to the next contract month a few days before expiry, when trading activity moves to the new month. Check the CME calendar for exact dates each month.

Related contracts

• E-mini Dow (YM)
• Micro E-mini S&P 500 (MES)
• Micro E-mini Nasdaq-100 (MNQ)
• Micro E-mini Russell 2000 (M2K)

See every contract we cover on the futures contracts page.

Frequently asked questions

What is the tick value of MYM?

One minimum tick on MYM is 1.00 index point, worth $0.50 per contract. The point value is $0.50 per index point.

What are the trading hours for MYM?

Sunday to Friday, 6:00 p.m. to 5:00 p.m. ET, with a daily break from 5:00 to 6:00 p.m. ET (CME lists this as 5:00 p.m. to 4:00 p.m. CT). Holiday hours differ, so check CME Group's holiday calendar.

Is MYM cash-settled or physically delivered?

MYM is cash-settled. The last trading day rule: third Friday of the contract month. Trading in the expiring contract stops at the open of the primary listing exchange, 9:30 a.m. ET.

How much margin do I need to trade MYM?

Margins are set by CME and then by each broker, and they change with market conditions. Check your broker's current margin page, and see our futures brokers comparison.

Why is MYM on CBOT and not CME?

The E-mini Dow has always been a CBOT product, and CME Group kept the Micro version on the same exchange. For traders this mainly affects the fee schedule your broker passes on. The contract trades on the same CME Globex platform as the other Micro E-minis.