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Intermediate8 chapters · ~10 min readStarter+
Futures 101Index, Commodity & Rate Futures
How futures contracts work — specs, margin, leverage, rolling, hedging a stock portfolio with index futures, and the risk rules that keep leverage from ending your account.
Futures let you trade the S&P 500, Nasdaq, oil, gold, Treasuries and more nearly around the clock, with a lot of capital efficiency. That efficiency is also leverage, and leverage is unforgiving. This course gives you the mechanics first and the risk rules alongside them. Contract specifications below are standard as of writing, but always confirm current specs and margins with the exchange (CME Group) and your broker.
Course contents
- 01What a Futures Contract IsAn agreement to buy or sell later at a price set today
- 02Contract SpecsMultipliers, ticks and what a one-point move costs you
- 03Margin and LeverageWhy a small deposit controls a large position — and what happens when it goes wrong
- 04Hours, Expirations and RollingTrading nearly around the clock and moving to the next contract
- 05Index Futures for Stock TradersOvernight reads, efficient exposure and hedging a portfolio
- 06Commodities and RatesOil, gold, Treasuries — and the term structure
- 07Risk Rules for FuturesThe guardrails that make leverage survivable
- 08Getting StartedApproval, platforms, simulation and taxes
- GLGlossary20 key terms from this course
- →What's NextWhere to go after this course