Commodities Contract Specifications

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.

Metals

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

Metals Binary Options

Tick size Tick value Minimum increment
1 $1 0.25

Gold

Duration Expiration Strike width No. of contracts Trading hours
Intraday Mon-Fri: 10am,
11am, 12pm, 1pm
1.0 9 For 2hrs preceding Expiration
Daily Mon-Fri, 1:30pm 1.5 21 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
0.03 9 For 2hrs preceding Expiration
Daily Mon-Fri, 1:25pm 0.05 15 Mon, 3am-1:25pm; Mon-Fri, 6pm-1:25pm
Weekly Fri, 1:25pm 0.25 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
0.005 9 For 2hrs preceding Expiration
Daily Mon-Fri, 1pm 0.01 15 Mon, 3am-1pm; Mon-Fri, 6pm-1pm
Weekly Fri, 1pm 0.05 13 Mon, 3am-5pm; Mon-Thu, 6pm-5pm; Thu-Fri, 6pm-1pm

Position limit: 2,500 Reportable level: 1,750


Metals Spreads

Tick value Minimum increment
$1 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
0.50 3 For 2hrs preceding Expiration 0.01
5.5-hour Mon-Fri, 1:25pm 1.50 3 Mon-Fri, 8am-1:25pm 0.01
Daily Mon-Fri, 1:25pm 2.00 3 Mon, 3am-1:25pm; Mon-Fri, 6pm-1:25pm 0.01
Daily Mon-Fri, 1:25pm 4.00 1 Mon, 3am-1:25pm; Mon-Fri, 6pm-1:25pm 0.01

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
0.08 3 For 2hrs preceding Expiration 0.001
5-hour Mon-Fri, 1pm 0.25 3 Mon-Fri, 8am-1pm 0.001
Daily Mon-Fri, 1pm 0.30 3 Mon, 3am-1pm; Mon-Fri, 6pm-1pm 0.001
Daily Mon-Fri, 1pm 0.60 1 Mon, 3am-1pm; Mon-Fri, 6pm-1pm 0.001

Position limit: 20,833 Reportable level: 2,083


Energies

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

Energies Binary Options

Tick size Tick value Minimum increment
1 $1 0.25

Crude Oil

Duration Expiration Strike width No. of contracts Trading hours
Intraday

Mon-Fri: 10am, 11am, 12pm, 1pm, 2pm

0.2

9 For 2hrs preceding Expiration
Daily Mon-Fri, 2:30pm 0.50 23 Mon, 3am-2:30pm; Mon-Fri, 6pm-2:30pm
Weekly Fri, 2:30pm 1.00 13 Mon, 3am-5pm; Mon-Thu, 6pm-5pm; Thu-Fri, 6pm-2:30pm

Position limit: 2,500 Reportable level: 1,750


Natural Gas

Duration Expiration Strike width No. of contracts Trading hours
Intraday Mon-Fri: 10am, 11am, 12pm, 1pm, 2pm 0.01 9 For 2hrs preceding Expiration
Daily Mon-Fri, 2:30pm 0.02 15 Mon, 3am-2:30pm; Mon-Fri, 6pm-2:30pm
Weekly Fri, 2:30pm 0.10 13 Mon, 3am-5pm; Mon-Thu, 6pm-5pm; Thu-Fri, 6pm-2:30pm

Position limit: 2,500 Reportable level: 1,750


Energies Spreads

Tick value Minimum increment
$1 Equivalent to tick size

Crude Oil

Duration Expiration Range No. of contracts Trading hours Tick
size
2-hour Mon-Fri: 10am, 11am, 12pm, 1pm, 2pm 1.50 5 For 2hrs preceding Expiration 0.01
6.5-hour Mon-Fri, 2:30pm 3.00 3 Mon-Fri, 8am-2:30pm 0.01
Daily Mon-Fri, 2:30pm 5.00 3 Mon, 3am-2:30pm; Mon-Fri, 6pm-2:30pm 0.01
Daily Mon-Fri, 2:30pm 10.00 1 Mon, 3am-2:30pm; Mon-Fri, 6pm-2:30pm 0.01

Position limit: 25,000 Reportable level: 1,250


Natural Gas

Duration Expiration Range No. of contracts Trading hours Tick
size
2-hour Mon-Fri: 10am, 11am, 12pm, 1pm, 2pm 0.200 3 For 2hrs preceding Expiration 0.001
6.5-hour Mon-Fri, 2:30pm 0.400 3 Mon-Fri, 8am-2:30pm 0.001
Daily Mon-Fri, 2:30pm 0.500 3 Mon, 3am-2:30pm; Mon-Fri, 6pm-2:30pm 0.001
Daily Mon-Fri, 2:30pm 1.000 1 Mon, 3am-2:30pm; Mon-Fri, 6pm-2:30pm 0.001

Position limit: 25,000 Reportable level: 1,250


Agriculturals

Our agricultural contracts are based on the underlying CBOT® Futures.

Nadex market Underlying market Lead months
CORN CBOT® Corn Futures Mar, May, Jul, Dec
SOYBEANS CBOT® Soybean Futures Jan, Mar, May, Jul, Nov

Agriculturals Binary Options

Tick size Tick value Minimum increment
1 $1 0.25

Corn

Duration Expiration Strike width No. of contracts Trading hours
Daily Mon-Fri, 2:15pm 2.0 15 Mon-Fri, 9:30am-2:15pm
Weekly Fri, 2:15pm 5.0 7 Mon-Fri, 9:30am-2:15pm

Position limit: 2,500 Reportable level: 1,750


Soybeans

Duration Expiration Strike width No. of contracts Trading hours
Daily Mon-Fri, 2:15pm 3.0 15 Mon-Fri, 9:30am-2:15pm
Weekly Fri, 2:15pm 10.0 7 Mon-Fri, 9:30am-2:15pm

Position limit: 2,500 Reportable level: 1,750

Agriculturals Spreads

Tick value Minimum increment
$1 Equivalent to tick size

Corn

Duration Expiration Range No. of contracts Trading hours Tick
size
Daily Mon-Fri, 2:15pm 20.0 3 Mon-Fri, 9:30am-2:15pm 0.1
Daily Mon-Fri, 2:15pm 40.0 1 Mon-Fri, 9:30am-2:15pm 0.1

Position limit: 62,500 Reportable level: 3,125


Soybeans

SOYBEANS Duration Expiration Range No. of contracts Trading hours Tick
size
  Daily Mon-Fri, 2:15pm 40.0 3 Mon-Fri, 9:30am-2:15pm 0.1
  Daily Mon-Fri, 2:15pm 80.0 1 Mon-Fri, 9:30am-2:15pm 0.1

Position limit: 31,250 Reportable level: 1,562


Pursuant to Nadex Rule 12.1(e), in instances where a duplicate strike width would be generated under the applicable product rule, the strike width for that contract will be adjusted by the pre-determined levels described in this table.