Contract Size

Posted in Finance, Accounting and Economics Terms, Total Reads: 1014

Definition: Contract Size

Contract size or lot size represents a specific quantity of a commodity which is to be delivered according to the futures contract or agreement. The commodity may be stock, futures or options. Generally the contract size is standard for futures and options but may vary depending upon the commodity or agreement.

For example: contract size for options is generally 100 shares but contract size for gold on COMEX is 100 ounces.

Contract size determines the change in dollar value of a unit change in the underlying commodity. His can be explained by giving an example. Suppose the price of gold changes by 1$, therefor there will be 100$ change (as lot size is 100 ounces) in the gold contract.

In Forex, contract size is the amount of currency being bought and sold. There are two types of contract sizes here:-

• Standard contract size : 100,000 base currency units

• Mini contract size: 10,000 base currency units.

Similarly for every commonly traded quantity a contract size is specified.



Contract size

Grains and Oilseeds


5,000 bu


5,000 bu


5,000 bu

Soybean meal

100 tons

Soybean oil

60,000 lb

Livestock and Meat

Cattle (feeder)

50,000 lb

Cattle (live)

40,000 lb

Hogs (lean)

40,000 lb

Pork bellies

40,000 lb

Food and Fiber


100 metric tons


37,500 lb


112,000 lb


50,000 lb

Orange Juice

15,000 lb

Metals and Petroleum


25,000 lb


100 troy oz


5,000 troy oz

Crude oil (light sweet)

100 bbl

Heating oil

42,000 gal


42,000 lb

Interest Rates

Treasury bonds


Treasury bills


Hence, this concludes the definition of Contract Size along with its overview.

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