Contract Specs
Read our contract specs for important information on contract expiration, underlying markets, tick size, position limits and more.
Please ensure you understand the relevant contract specs before trading. All times are EST and trading hours are subject to holidays.
For definitions of the terms used in these specs, please refer to our Glossary; for the rollover schedule for Nadex futures, click here.
Our metals contracts are based on the underlying COMEX/NYMEX® Futures.
| Nadex market | Underlying market | Lead months |
| GOLD | COMEX/NYMEX® Gold Futures | Feb, Apr, Jun, Aug, Dec |
| SILVER | COMEX/NYMEX® Silver Futures | Mar, May, Jul, Sep, Dec |
| COPPER | COMEX/NYMEX® Copper Futures | Mar, May, Jul, Sep, Dec |
Contract specs for metals binary options
- Tick size is 1
- Tick value is $1
- Minimum increment is 0.25
| GOLD |
Duration | Expiration | Strike width | No. of contracts | Trading hours |
|---|---|---|---|---|---|
| Intraday | Mon-Fri: 10am, 11am, 12pm, 1pm |
1.5 | 9 | For 2hrs preceding Expiration | |
| Daily | Mon-Fri, 1:30pm | 3.0 | 23 | Mon, 3am-1:30pm; Mon-Fri, 6pm-1:30pm | |
| Weekly | Fri, 1:30pm | 10.0 | 13 | Mon, 3am-5pm; Mon-Thu, 6pm-5pm; Thu-Fri, 6pm-1:30pm |
Position limit: 2,500 Reportable level: 1,750
| SILVER |
Duration | Expiration | Strike width | No. of contracts | Trading hours |
|---|---|---|---|---|---|
| Intraday | Mon-Fri: 10am, 11am, 12pm, 1pm |
5 |
9 | For 2hrs preceding Expiration | |
| Daily | Mon-Fri, 1:25pm |
20 |
15 | Mon, 3am-1:25pm; Mon-Fri, 6pm-1:25pm |
|
| Weekly | Fri, 1:25pm | 50 | 13 | Mon, 3am-5pm; Mon-Thu, 6pm-5pm; Thu-Fri, 6pm-1:25pm |
Position limit: 2,000 Reportable level: 1,400
| COPPER |
Duration | Expiration | Strike width | No. of contracts | Trading hours |
|---|---|---|---|---|---|
| Intraday | Mon-Fri: 10am, 11am, 12pm |
7.5 |
3 | For 2hrs preceding Expiration | |
| Daily | Mon-Fri, 1pm |
2.0 |
15 | Mon, 3am-1pm; Mon-Fri, 6pm-1pm |
|
| Weekly | Fri, 1pm |
5.0 |
13 | Mon, 3am-5pm; Mon-Thu, 6pm-5pm; Thu-Fri, 6pm-1pm |
Position limit: 2,500 Reportable level: 1,750
Contract specs for metals bull spreads
- Tick value is $1
- Minimum increment is equivalent to tick size
| GOLD | Duration | Expiration | Range |
No. of contracts | Trading hours | Tick size |
|---|---|---|---|---|---|---|
| 2-hour | Mon-Fri: 10am, 11am, 12pm, 1pm |
15.0 | 3 | For 2hrs preceding Expiration | 0.1 | |
| 5.5-hour | Mon-Fri, 1:30pm | 40.0 | 3 | Mon-Fri, 8am-1:30pm | 0.1 | |
| Daily | Mon-Fri, 1:30pm | 50.0 | 3 | Mon, 3am-1:30pm; Mon-Fri, 6pm-1:30pm | 0.1 | |
| Daily | Mon-Fri, 1:30pm | 100.0 | 1 | Mon, 3am-1:30pm; Mon-Fri, 6pm-1:30pm | 0.1 |
Position limit: 60,000 Reportable level: 4,166
| SILVER | Duration | Expiration | Range |
No. of contracts | Trading hours | Tick size |
|---|---|---|---|---|---|---|
| 2-hour | Mon-Fri: 10am, 11am, 12pm, 1pm |
50 |
3 | For 2hrs preceding Expiration | 1 | |
| 5.5-hour | Mon-Fri, 1:25pm |
150 |
3 | Mon-Fri, 8am-1:25pm |
1 | |
| Daily | Mon-Fri, 1:25pm |
200 |
3 | Mon, 3am-1:25pm; Mon-Fri, 6pm-1:25pm |
1 | |
| Daily | Mon-Fri, 1:25pm |
400 |
1 | Mon, 3am-1:25pm; Mon-Fri, 6pm-1:25pm |
1 |
Position limit: 100,000 Reportable level: 3,125
| COPPER | Duration | Expiration | Range |
No. of contracts | Trading hours | Tick size |
|---|---|---|---|---|---|---|
| 2-hour | Mon-Fri: 10am, 11am, 12pm, 1pm |
8.0 |
3 | For 2hrs preceding Expiration | 0.1 | |
| 5-hour | Mon-Fri, 1pm |
25.0 |
3 | Mon-Fri, 8am-1pm |
0.1 | |
| Daily | Mon-Fri, 1pm |
30.0 |
3 | Mon, 3am-1pm; Mon-Fri, 6pm-1pm |
0.1 | |
| Daily | Mon-Fri, 1pm |
60.0 |
1 | Mon, 3am-1pm; Mon-Fri, 6pm-1pm |
0.1 |
Position limit: 20,833 Reportable level: 2,083
Our energies contracts are based on NYMEX® Futures.
| Nadex market | Underlying market | Lead months |
| CRUDE OIL | NYMEX® Crude Oil Futures |
Every calendar month |
| NATURAL GAS | NYMEX® Natural Gas Futures |
Every calendar month |
