CME · Crypto · Futures

Micro Ether Futures (MET)

CME Micro Ether (MET) is one tenth of an ether, cash-settled against the CME CF Ether-Dollar Reference Rate.

Live MET chart on TradingView Affiliate link

COT data as of Sep 22, 2026 · Margins as of Sep 30, 2026 · Roll & expiry dates checked daily

Tick size / value: 0.50 $/ETH = $0.05
Point value: $10 / $100
Active contract: METV26 Oct 2026
Next roll: Oct 23 in 24 days
Globex right now: Checking…

Contract specifications

Exchange: Chicago Mercantile Exchange (CME Group)
Underlying: CME CF Ether Reference Rate
Contract unit: 0.1 ether
Minimum tick: $0.50 per ether = $0.05 per contract
Point value: $10.00 per $100 move in ether · 200 ticks per $100
Price quotation: U.S. dollars per ether
Contract months: Monthly (plus additional quarterly months)
Settlement: Financially settled (cash)
Final settlement: Cash-settled to the CME CF Ether-Dollar Reference Rate at 4:00 p.m. London time
Termination of trading: Last Friday of the contract month (4:00 p.m. London); preceding business day if that Friday is not a business day
Globex code: MET

Contract sizes compared
Symbol	Contract	Per $100	Tick value	Size
MET	Micro Ether	$10.00	$0.05	This contract
ETH	Ether	$5,000.00	$25.00	500× MET

Source: CME Group contract specifications · reviewed Sep 30, 2026

Roll dates, first notice & expiration

Contract	Roll date	First notice	Last trading day	Days left
METV26 Oct 2026 Active	Fri, Oct 23, 2026	n/a	Fri, Oct 30, 2026	31
METX26 Nov 2026	Thu, Nov 19, 2026	n/a	Fri, Nov 27, 2026	59
METZ26 Dec 2026	Thu, Dec 17, 2026	n/a	Thu, Dec 24, 2026 holiday-adjusted	86
METF27 Jan 2027	Fri, Jan 22, 2027	n/a	Fri, Jan 29, 2027	122
METG27 Feb 2027	Fri, Feb 19, 2027	n/a	Fri, Feb 26, 2027	150
METH27 Mar 2027	Thu, Mar 18, 2027	n/a	Thu, Mar 25, 2027 holiday-adjusted	177

Roll. The date shown is five business days before the last trading day; volume usually moves to the next month around then.

First notice day. None – the contract is cash-settled, so there is no delivery and no first notice day.

Last trading day. Last Friday of the contract month; the preceding business day if that Friday is a holiday.

US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15

Learn more: Futures roll dates explained · First notice day vs. last trading day

Calculated from exchange rules and the US exchange holiday calendar. Confirm with the CME Group expiration calendar.

Trading hours (ET / CT)

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.	–

Holiday hours differ – check the exchange holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).

Margins

CME Group maintenance margin per contract, outright position · as of Sep 30, 2026
Contract	Long position	Short position
Sep 2026 – Nov 2026 Active	–	$81
Dec 2026 – Jan 2027	–	$82
Feb 2027 – Mar 2027	–	$83
METM27 Jun 2027	–	$84

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.

Learn more: Futures margin explained · Micro vs. E-mini futures

COT positioning

CFTC Traders in Financial Futures (TFF), futures only · positions as of Tue, Sep 22, 2026 · released Sep 25, 2026

Positioning shown for the full-size Ether (ETH) contract. The CFTC reports MET separately, but its positions are too small to read on their own. Full ETH page.

Dealers / Intermediaries

+12,372 net contracts

+1,801 vs. prior week · +41.3% of OI

COT Index 26 wk 100

COT Index 3 yr 70

Movement (6 wk): +25

Banks and dealers on the other side of client flow. Tend to act contrarian – selling strength, buying weakness.

Asset Managers

−1,492 net contracts

+428 vs. prior week · −5.0% of OI

COT Index 26 wk 43

COT Index 3 yr 23

Movement (6 wk): +17

Asset managers and funds, including ETF-related hedging and institutional allocations.

Leveraged Funds

−10,617 net contracts

−2,895 vs. prior week · −35.4% of OI

COT Index 26 wk 29

COT Index 3 yr 50

Movement (6 wk): −31

Hedge funds and CTAs – including the cash-and-carry basis trade against spot ETFs, which shows up as net shorts.

Net positions, last 3 years contracts, long minus short

Dealers / IntermediariesAsset ManagersLeveraged Funds

COT Index, 3-year window 0 = most net short in 3 years, 100 = most net long · shaded: extreme zones

Dealers / IntermediariesLeveraged Funds

Traders in Financial Futures (TFF) · open interest 29,985 (+1,572 w/w)
Group	Long	Short	Net	Δ 1 wk	Δ 4 wk	Index 26 wk	Index 3 yr	Move 6 wk
Dealers / Intermediaries	21,765	9,393	+12,372	+1,801	+1,142	100	70	+25
Asset Managers	1,837	3,329	−1,492	+428	+711	43	23	+17
Leveraged Funds	2,603	13,220	−10,617	−2,895	−2,232	29	50	−31
Other Reportables	179	1,198	−1,019	+104	−332	7	63	−8
Nonreportables	1,215	459	+756	+562	+711	42	42	+16

Legacy Report · open interest 29,985 (+1,572 w/w) · WILLCO (26 wk, commercials vs. OI): 74
Group	Long	Short	Net	Δ 1 wk	Δ 4 wk	Index 26 wk	Index 3 yr	Move 6 wk
Commercials	166	3,281	−3,115	+234	−155	59	35	+35
Non-Commercials	26,298	23,939	+2,359	−796	−556	40	57	−43
Nonreportables (small)	1,215	459	+756	+562	+711	42	42	+16

Weekly net positions, last 12 reports (Traders in Financial Futures (TFF))

Report date	Dealers / Intermediaries	Asset Managers	Leveraged Funds	Other Reportables	Nonreportables	Open interest
Sep 22, 2026	+12,372	−1,492	−10,617	−1,019	+756	29,985
Sep 15, 2026	+10,571	−1,920	−7,722	−1,123	+194	28,413
Sep 8, 2026	+9,403	−1,653	−7,286	−945	+481	26,564
Sep 1, 2026	+7,358	−1,434	−5,325	−1,056	+457	24,619
Aug 25, 2026	+11,230	−2,203	−8,385	−687	+45	26,868
Aug 18, 2026	+7,528	−3,076	−4,395	−252	+195	22,684
Aug 11, 2026	+7,402	−3,119	−3,998	−388	+103	21,970
Aug 4, 2026	+6,996	−3,619	−3,205	−324	+152	20,431
Jul 28, 2026	+9,038	−3,472	−5,396	−278	+108	23,853
Jul 21, 2026	+9,163	−2,420	−7,053	−125	+435	23,667
Jul 14, 2026	+9,175	−1,406	−7,961	−64	+256	22,539
Jul 7, 2026	+9,451	−2,109	−7,309	−174	+141	21,746

Learn more: How to read the COT report · COT overview of all contracts

How to read these numbers

Net position = long minus short contracts (spread positions excluded).
COT Index = where today's net position sits within its range over the window: 100 × (net − min) / (max − min). It is a stochastic, not a percentile. Readings above 80 or below 20 are commonly treated as positioning extremes (after Stephen Briese and Larry Williams).
Movement Index = change of the 3-year COT Index over 6 weeks. Moves of ±40 points mark unusually fast repositioning.
WILLCO (Legacy report) = COT Index of commercials' net position as a share of open interest, 26-week window.
Positions are as of Tuesday and released Friday at 3:30 p.m. ET. COT data shows positioning, not timing – it is context, not a trading signal. Open-interest-based indicators are left out for stock index futures because quarterly expirations distort open interest.

Source: CFTC Public Reporting Environment · contract market code 146021 (ETHER CASH SETTLED - CHICAGO MERCANTILE EXCHANGE)

MET profit & loss calculator

Learn more: Tick value and point value explained

Before commissions and exchange fees. Prices round to the nearest tick of 0.50.

FAQ

What is the tick value of Micro Ether (MET)?

One tick is $0.50 per ether, worth $0.05 per contract. A $100 move in ether is worth $10.