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Complete trading guides for major futures contracts. E-mini S&P 500 (ES), Nasdaq (NQ), crude oil (CL), gold (GC), treasury bonds, natural gas, corn, and currency futures.

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10-Year Treasury Note (ZN) Futures: The Complete Trading Guide
Instruments

10-Year Treasury Note (ZN) Futures: The Complete Trading Guide

Overview The 10-Year Treasury Note futures contract -- ticker ZN on CME/CBOT -- is the world's benchmark interest rate instrument. When the financial press s...

10 citations v2 Jun 13, 2026
2-Year Treasury Note (ZT) Futures: The Complete Trading Guide to the Fed's Pulse
Instruments

2-Year Treasury Note (ZT) Futures: The Complete Trading Guide to the Fed's Pulse

Overview If you want to know what the market thinks the Federal Reserve is going to do next, there's one futures contract that tells you with more precision ...

12 citations v2 Jun 13, 2026
30-Year Treasury Bond (ZB) Futures: The Complete Trading Guide
Instruments

30-Year Treasury Bond (ZB) Futures: The Complete Trading Guide

Overview The 30-Year US Treasury Bond futures contract -- ticker ZB on CME's CBOT exchange -- is the apex predator of the US rate complex. When you're in ZB,...

13 citations v1 Jun 13, 2026
5-Year Treasury Note (ZF) Futures: The Complete Trading Guide
Instruments

5-Year Treasury Note (ZF) Futures: The Complete Trading Guide

Overview The 5-Year Treasury Note futures contract -- ticker ZF on CME/CBOT -- is the belly of the US yield curve, and understanding it means understanding h...

9 citations v1 Jun 12, 2026
Australian Dollar (6A) Futures: The Complete Trading Guide
Instruments

Australian Dollar (6A) Futures: The Complete Trading Guide

The Australian Dollar futures contract -- ticker 6A on CME Globex -- is the futures market's direct access point to one of the world's most interesting curre...

7 citations v1 Jun 1, 2026
Binary Outcome Trading: How Yes/No Event Contracts Work on Kalshi, Polymarket, and the New Prediction Market Exchanges
Instruments

Binary Outcome Trading: How Yes/No Event Contracts Work on Kalshi, Polymarket, and the New Prediction Market Exchanges

Binary outcome trading is the simplest form of derivatives trading in existence. You pick an event. You decide if it'll happen or not. You buy a contract. If...

11 citations v2 Jun 1, 2026
Bitcoin Futures (BTC): The Complete Trading Guide
Instruments

Bitcoin Futures (BTC): The Complete Trading Guide

Bitcoin futures -- ticker BTC on CME, MBT for micro -- are the fastest-growing derivatives contract class of the past decade. CME's crypto suite now averages...

9 citations v1 Jun 1, 2026
Brent Crude (BZ) Futures: The Complete Trading Guide
Instruments

Brent Crude (BZ) Futures: The Complete Trading Guide

Overview Brent Crude futures (BZ on NYMEX, BRN on ICE) are the world's primary oil price benchmark. When news anchors say "oil is up $2 a barrel," they mean ...

11 citations v7 Jun 9, 2026
British Pound (6B) Futures: The Complete Trading Guide
Instruments

British Pound (6B) Futures: The Complete Trading Guide

British Pound futures -- ticker 6B -- are the third most actively traded FX futures contract on CME Globex, behind the euro (6E) and Japanese yen (6J). Each ...

9 citations v1 Jun 1, 2026
Canadian Dollar (6C) Futures: The Complete Trading Guide
Instruments

Canadian Dollar (6C) Futures: The Complete Trading Guide

The Loonie is an energy play, a rates story, and a risk-sentiment gauge -- all in one contract. Canada's currency trades like an energy company on a daily ch...

10 citations v1 Jun 1, 2026
Cocoa Futures (CC): The Complete Trading Guide to the World's Most Supply-Constrained Soft Commodity
Instruments

Cocoa Futures (CC): The Complete Trading Guide to the World's Most Supply-Constrained Soft Commodity

Cocoa futures (CC) -- the benchmark contract on ICE Futures U.S. -- don't trade like most commodity markets. The price of cocoa responds to rainfall in Côte...

10 citations v1 Jun 1, 2026
Coffee Futures (KC): The Complete Trading Guide to Arabica's Volatile, Weather-Driven Market
Instruments

Coffee Futures (KC): The Complete Trading Guide to Arabica's Volatile, Weather-Driven Market

Coffee futures (KC) -- the Arabica "Coffee C" contract on ICE Futures U.S. -- occupy a category apart from the index and energy contracts most futures trader...

12 citations v8 Jun 1, 2026
Copper Futures (HG): The Complete Trading Guide to the Metal With a PhD in Economics
Instruments

Copper Futures (HG): The Complete Trading Guide to the Metal With a PhD in Economics

The HG contract is priced in US dollars per pound. The minimum tick is $0.0005 per pound, which translates to $12.50 per tick per contract. A full one-cent m...

4 citations v1 Jun 1, 2026
Corn Futures (ZC): The Complete Trading Guide
Instruments

Corn Futures (ZC): The Complete Trading Guide

One USDA report in July can double corn's daily range in sixty seconds. That is the market you are trading when you pull up ZC. The CBOT Corn contract (ZC) p...

16 citations v1 Jun 1, 2026
Cotton Futures (CT): The Complete Trading Guide
Instruments

Cotton Futures (CT): The Complete Trading Guide

Cotton is one of the most volatile soft commodity futures on the planet. It gaps. It locks limit. It moves 5 cents in the first 60 seconds after a USDA repor...

12 citations v1 Jun 11, 2026
Crude Oil (CL) Futures: The Complete Trading Guide
Instruments

Crude Oil (CL) Futures: The Complete Trading Guide

Crude oil futures -- ticker CL -- are the world's most actively traded commodity contract. On a busy day, over 1.5 million CL contracts change hands on CME G...

9 citations v6 Jun 7, 2026
DAX Futures (FDAX/FDXM): The Complete Trading Guide to Germany's Benchmark Index Contract
Instruments

DAX Futures (FDAX/FDXM): The Complete Trading Guide to Germany's Benchmark Index Contract

Overview The DAX futures complex -- traded on Eurex as the FDAX (standard contract) and FDXM (mini contract) -- represents your ticket to one of the world's ...

12 citations v5 Jun 1, 2026
E-mini Dow (YM) Futures: The Complete Trading Guide to the Price-Weighted Index Contract
Instruments

E-mini Dow (YM) Futures: The Complete Trading Guide to the Price-Weighted Index Contract

The E-mini Dow YM controls $5 per index point. With the DJIA near 42,000, one YM contract represents roughly $210,000 in notional value The Dow is a 30-stock...

11 citations v4 Jun 1, 2026
E-mini Nasdaq-100 (NQ) Futures: The Complete Trading Guide
Instruments

E-mini Nasdaq-100 (NQ) Futures: The Complete Trading Guide

The E-mini Nasdaq-100 -- ticker NQ -- is the second most actively traded equity index futures contract in the world, trailing only ES in volume. On a typical...

12 citations v3 Jun 1, 2026
E-mini Russell 2000 (RTY) Futures: The Complete Trading Guide
Instruments

E-mini Russell 2000 (RTY) Futures: The Complete Trading Guide

The E-mini Russell 2000 The contract trades $50 per index point on CME Globex, with a micro version (M2K) at $5 per point for smaller accounts. RTY doesn't g...

8 citations v1 Jun 1, 2026
E-mini S&P 500 (ES) Futures: The Complete Trading Guide
Instruments

E-mini S&P 500 (ES) Futures: The Complete Trading Guide

The E-mini S&P 500 -- ticker ES -- is the most actively traded futures contract on the planet. Over 1.5 million contracts change hands on a typical day, repr...

13 citations v4 Jun 1, 2026
Ethereum Futures (ETH): The Complete Trading Guide
Instruments

Ethereum Futures (ETH): The Complete Trading Guide

Overview Ethereum futures let you take regulated, leveraged positions on Ether -- the fuel for the world's largest smart contract network -- without touching...

9 citations v1 Jun 1, 2026
Euro FX (6E) Futures: The Complete Trading Guide
Instruments

Euro FX (6E) Futures: The Complete Trading Guide

Euro FX futures -- ticker 6E -- are the most heavily traded currency futures contract on the planet. Each 6E contract represents 125,000 euros, and on a liqu...

6 citations v1 Jun 1, 2026
Event Contracts: Binary-Outcome Derivatives, CFTC Regulation, and Where to Trade Them
Instruments

Event Contracts: Binary-Outcome Derivatives, CFTC Regulation, and Where to Trade Them

What Event Contracts Are and Why They Matter Event contracts are derivatives that settle based on whether a specific future event happens or not. Yes or no. ...

12 citations v1 Jun 1, 2026
Fed Funds Futures (ZQ): The Complete Trading Guide to the Market That Prices Fed Policy
Instruments

Fed Funds Futures (ZQ): The Complete Trading Guide to the Market That Prices Fed Policy

Overview Most futures traders know the Fed matters. Few trade the instrument that actually prices Fed expectations directly. Fed Funds Futures (ZQ) are the m...

9 citations v2 Jun 1, 2026
German Bund Futures (FGBL): The Complete Trading Guide to Europe's Benchmark Rate Contract
Instruments

German Bund Futures (FGBL): The Complete Trading Guide to Europe's Benchmark Rate Contract

Overview If you want clean, liquid exposure to ECB monetary policy without touching equities, there's one instrument that belongs in every global macro trade...

10 citations v1 Jun 13, 2026
Gold Futures (GC): The Complete Trading Guide
Instruments

Gold Futures (GC): The Complete Trading Guide

Before diving in, here's the shorthand you'll encounter throughout: - GC -- Standard Gold Futures (100 troy oz per contract, COMEX/CME) - MGC -- Micro Gold F...

11 citations v3 Jun 1, 2026
Heating Oil (HO) Futures: The Complete Trading Guide
Instruments

Heating Oil (HO) Futures: The Complete Trading Guide

Heating oil futures are misnamed. The contract most traders call "HO" has not been about residential heating oil for decades. Since the early 2000s, the NYME...

12 citations v3 Jun 12, 2026
Japanese Yen (6J) Futures: The Complete Trading Guide
Instruments

Japanese Yen (6J) Futures: The Complete Trading Guide

In August 2024, the yen carry trade -- the most crowded macro position on the planet -- blew up in two weeks. The yen ripped 15% against the dollar as billio...

8 citations v7 Jun 1, 2026
Lean Hogs (HE) Futures: The Complete Trading Guide
Instruments

Lean Hogs (HE) Futures: The Complete Trading Guide

Overview Lean Hogs futures (HE) on CME Group is the primary risk management and speculative vehicle for U.S. pork markets. Every major pork processor -- Smit...

11 citations v1 Jun 1, 2026
Live Cattle (LE) Futures
Instruments

Live Cattle (LE) Futures

Live Cattle futures (LE) aren't crude oil with hooves. That's the first thing to get straight. This is a thin, fundamentally-driven market where four or five...

12 citations v1 Jun 1, 2026
Micro E-mini Futures (MES, MNQ, MYM, M2K): The Complete Guide to CME Fractional-Sized Contracts
Instruments

Micro E-mini Futures (MES, MNQ, MYM, M2K): The Complete Guide to CME Fractional-Sized Contracts

Overview Micro futures are fractional-sized versions of CME Group's most popular futures contracts, trading at 1/10th the notional value of their E-mini coun...

9 citations v2 Jun 1, 2026
Natural Gas (NG) Futures: The Complete Trading Guide
Instruments

Natural Gas (NG) Futures: The Complete Trading Guide

Natural gas futures are one of the most actively traded energy contracts on the planet The CME's Henry Hub Natural Gas contract (NG) prices physical delivery...

10 citations v1 Jun 1, 2026
Nikkei 225 (NKD) Futures: The Complete Trading Guide for US Evening Sessions
Instruments

Nikkei 225 (NKD) Futures: The Complete Trading Guide for US Evening Sessions

Overview The Nikkei 225 futures contract (NKD) is CME Group's gateway to Japanese equity markets -- a cash-settled index future on the world's third-largest ...

7 citations v1 Jun 13, 2026
Palladium (PA) Futures: The Complete Trading Guide
Instruments

Palladium (PA) Futures: The Complete Trading Guide

Palladium (PA) Futures: The Autocatalyst Metal That Moves Like Nothing Else Overview Palladium is the market that punishes people who treat it like gold. Sam...

11 citations v1 Jun 14, 2026
Platinum Futures (PL): The Industrial Precious Metal That Trades Unlike Gold
Instruments

Platinum Futures (PL): The Industrial Precious Metal That Trades Unlike Gold

Platinum occupies a strange position in the futures landscape. It trades on precious metals desks alongside gold and silver, gets grouped into "PMs" by most ...

10 citations v4 Jun 4, 2026
RBOB Gasoline (RB) Futures: The Complete Trading Guide
Instruments

RBOB Gasoline (RB) Futures: The Complete Trading Guide

RBOB gasoline futures are the world's benchmark for wholesale gasoline -- the contract that refiners use to lock in margins, hedgers use to protect fuel cost...

12 citations v4 Jun 2, 2026
Silver Futures (SI): The Complete Trading Guide to the Most Volatile Precious Metal
Instruments

Silver Futures (SI): The Complete Trading Guide to the Most Volatile Precious Metal

Silver futures are the benchmark derivatives contract for the world's most volatile precious metal. Traded on COMEX (a division of CME Group), the SI contrac...

8 citations v2 Jun 1, 2026
SOFR (SR3) Futures: The Complete Trading Guide
Instruments

SOFR (SR3) Futures: The Complete Trading Guide

Three-Month SOFR futures -- ticker SR3 on CME Globex -- are the successor to Eurodollar futures and the benchmark contract for trading short-term U.S. intere...

2 citations v1 Jun 1, 2026
Soybean Futures (ZS): The Complete Trading Guide
Instruments

Soybean Futures (ZS): The Complete Trading Guide

Overview Soybeans are one of the most actively traded agricultural futures contracts in the world What makes soybeans different from corn or wheat is the cru...

7 citations v2 Jun 1, 2026
Soybean Meal (ZM) Futures: The Complete Trading Guide to the Protein Engine of the Soybean Complex
Instruments

Soybean Meal (ZM) Futures: The Complete Trading Guide to the Protein Engine of the Soybean Complex

Overview Contract anatomy: at $350/ton, one ZM contract is $35,000 notional -- a $30/ton WASDE surprise is $3,000 P&L. Soybean meal is the world's dominant h...

9 citations v1 Jun 13, 2026
Soybean Oil (ZL) Futures: The Complete Trading Guide to the Soybean Complex's Most Volatile Contract
Instruments

Soybean Oil (ZL) Futures: The Complete Trading Guide to the Soybean Complex's Most Volatile Contract

Overview Contract anatomy: a $0.01/lb move equals $600 -- size ZL accordingly before your first order. Soybean oil is the most widely consumed vegetable oil ...

11 citations v1 Jun 13, 2026
Sugar Futures (SB): The Complete Trading Guide
Instruments

Sugar Futures (SB): The Complete Trading Guide

Overview Sugar No. 11 (SB) futures are among the most volatile commodity contracts on the planet. A single cent-per-pound move -- $1,120 per contract -- can ...

11 citations v1 Jun 1, 2026
Swiss Franc (6S) Futures: The Complete Trading Guide
Instruments

Swiss Franc (6S) Futures: The Complete Trading Guide

The Swiss Franc is not just a currency. It's a regime barometer -- calm in normal markets, explosive in crisis. The "Swissie" does not behave like the Austra...

11 citations v1 Jun 1, 2026
The Strategic Petroleum Reserve: How 375 Million Barrels in Salt Caverns Move Crude Oil Markets
Instruments

The Strategic Petroleum Reserve: How 375 Million Barrels in Salt Caverns Move Crude Oil Markets

Overview The Strategic Petroleum Reserve is 375 million barrels of crude oil sitting in salt caverns along the Gulf Coast -- and every CL trader needs to und...

12 citations v3 Jun 1, 2026
Treasury Futures (ZB/ZN): The Complete Trading Guide
Instruments

Treasury Futures (ZB/ZN): The Complete Trading Guide

- ZT -- 2-Year Treasury Note Futures (CME/CBOT) - ZF -- 5-Year Treasury Note Futures (CME/CBOT) - ZN -- 10-Year Treasury Note Futures (CME/CBOT, the benchmar...

13 citations v1 Jun 1, 2026
Ultra T-Bond (UB) Futures: The Complete Trading Guide
Instruments

Ultra T-Bond (UB) Futures: The Complete Trading Guide

Overview The Ultra T-Bond futures contract (UB) is the most rate-sensitive listed Treasury instrument on the planet. While ZB (30-Year Treasury Bond futures)...

10 citations v2 Jun 13, 2026
US Dollar Index (DX) Futures: The Complete Trading Guide to the Legacy Euro-Weighted Dollar Basket
Instruments

US Dollar Index (DX) Futures: The Complete Trading Guide to the Legacy Euro-Weighted Dollar Basket

Overview The US Dollar Index futures contract -- ticker DX, trading on ICE Futures U.S. -- is the cleanest listed instrument for expressing a directional vie...

11 citations v3 Jun 1, 2026
VIX Futures: The Complete Trading Guide to the Volatility Index Contract
Instruments

VIX Futures: The Complete Trading Guide to the Volatility Index Contract

The VIX Here's the thing about VIX: you can't trade it directly. The index itself is a calculation, not a security. What you can trade are VIX futures (/VX o...

10 citations v2 Jun 1, 2026
Wheat Futures (ZW): The Complete Trading Guide
Instruments

Wheat Futures (ZW): The Complete Trading Guide

In February 2022, wheat traders who were short ZW watched their accounts evaporate as the contract ripped from $7.50 to over $12 in three weeks -- a 60% move...

9 citations v4 Jun 1, 2026


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