Sessions, Holidays and the Contract Roll
Futures trade almost around the clock. But not every hour trades the same way, and every contract has an end date. Here is how the week works from Hawaiʻi.
The futures week in Hawaiʻi time
- Opens Sunday afternoon: 12pm HST from March to early November, 1pm HST in winter.
- Closes Friday: 11am HST from March to early November, 12pm HST in winter.
- Daily pause: one hour each weekday, 11am to 12pm HST (12pm to 1pm in winter).
Hawaiʻi does not change its clocks, so these times shift by an hour twice a year. CME lists exact times on its trading hours page.
Not every hour is the same
The New York open and big economic reports bring the most volume and the fastest moves. Late-night hours are often quieter, with a wider spread. The spread is the gap between the best price to buy and the best price to sell. A wider spread costs you more on every trade.
Holidays change the hours
US holidays can shorten or close a session. Check the CME holiday hours before every holiday week, and never assume a normal day.
The contract roll
Index futures expire four times a year, in March, June, September and December, on the third Friday of the month. About a week before that, most traders move to the next contract. This is the roll: close the old one, trade the new one. Your chart symbol changes too.
CME posts the equity index roll dates and explains it in Understanding Futures Expiration and Contract Roll. Put the next roll date in your calendar today.
All Futures 101 lessons
- Lesson 1: Points, ticks and dollar value
- Lesson 2: Margin, leverage and daily settlement
- Lesson 3: Order types and bracket orders
- Lesson 4: Sessions, holidays and the roll (you are here)
- Lesson 5: Risk per trade with micros
- Lesson 6: Your first plan: chart, simulator, journal
Mahalo for reading and trade well!
Glenn & Reid | Hawaiʻi Trading Academy
Risk disclaimer: Trading futures involves substantial risk of loss and is not suitable for every investor. You can lose more than your initial deposit. Examples on this page use made-up numbers to teach the math. Past performance does not guarantee future results. Hawaiʻi Trading Academy provides education only. We are not financial advisors, and nothing on this page is a recommendation to buy or sell any financial product. CME Group is an independent exchange; HTA is not affiliated with it. Contract details can change; check CME before you trade.
