Fair value of a 100 share future at an illustrative $100 spot and 4% financing
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-09-12, from Single Stock Futures: CME's New Contracts.
| days_to_expiry | financing_usd | fair_price_no_dividend | fair_price_with_050_dividend |
|---|---|---|---|
| 30 | 0.33 | 100.33 | 99.83 |
| 60 | 0.66 | 100.66 | 100.16 |
| 90 | 0.99 | 100.99 | 100.49 |
| 180 | 1.97 | 101.97 | 101.47 |
| 365 | 4 | 104 | 103.5 |
- Rows × columns
- 5 × 4
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
days_to_expiry |
number | 30 to 365 | |
financing_usd |
number | 0.33 to 4 | US dollars |
fair_price_no_dividend |
number | 100.33 to 104 | US dollars |
fair_price_with_050_dividend |
number | 99.83 to 103.5 | US dollars |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
SELECT
days_to_expiry,
round(100 * 0.04 * days_to_expiry / 365, 2) AS financing_usd,
round(100 + 100 * 0.04 * days_to_expiry / 365, 2) AS fair_price_no_dividend,
round(100 + 100 * 0.04 * days_to_expiry / 365 - 0.50, 2) AS fair_price_with_050_dividend
FROM (SELECT arrayJoin([30, 60, 90, 180, 365]) AS days_to_expiry)
ORDER BY days_to_expiry
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