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CME Group plans Sports Index futures launch after stock ends session up 1.3%
CME Group is preparing to introduce Sports Index futures, with the launch date set for September 28 and pending regulatory review. The stock is up 1.3% on the day at $270.8.
CME price prediction
Current price:
$317.97
2.52
0.80%
Closed
11/13
Daily range
316.04
320.26
320.26
Weekly range
302.10
320.64
320.64
Loading...
Highlights
- CME Group intends to introduce Sports Index futures on September 28, pending regulatory approval, with a live webinar planned for launch day.
- Shares of CME Group are up 1.3% on the day at $270.8.
- Analyst coverage includes 32 buy ratings and 12 sell ratings, with a median price target of $285, approximately 5.2% above the current price.
CME Group plans to launch Sports Index futures on September 28, contingent on regulatory approval. The company will host a live webinar on launch day, where experts will discuss the contracts, the index methodology and provide real-world trading examples. The scheduled launch date is pending regulatory review.
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Range-bound trade as shares reclaim the MA-50 amid mixed moving averages
Price reclaimed the MA-50 at $267.97 during the session after closing below it. Shares of CME Group are trading in a split structure, positioned below both the MA-20 and MA-200 but above the MA-50. Stoch RSI is nearing oversold territory, which suggests the recent decline is getting stretched.
Upside bias holds as probabilities split and traders watch MA-50
To gauge whether the recent event is being incorporated in the price, traders should watch for confirmation around the MA-50 at $267.97. The price dropped below this level and then managed to close back above it during the session. Even so, while the recent move has been contained within a narrow range over the past week, from here the upside probability is 55% and the downside probability is 45% over the next five trading days, with an expected range of $266.02 to $275.57. A close above $275.62 would indicate buyers are willing to follow through, while a drop below $267.97 would show the move is being faded. On the weekly chart the longer-term picture stays negative.
Previously it was reported that CME Group aimed to broaden its derivatives offering with the planned launch of NHL futures, allowing traders exposure to sports team performance via new contract types. The upcoming Sports Index futures build on this expansion, and with the stock reclaiming its MA-50, traders should monitor price action around $267.97 as a key inflection point in the days ahead.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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