How this number is made
Notional value is the price times the contract multiplier times the number of contracts. An equity index future priced at 5,000 with a multiplier of 50 is $250,000 for one contract. The multiplier is in the contract specs. This page does not know which product you trade.
- The multiplier for many US equity options is 100.
- A mini contract is a different multiplier than the big contract. Do not guess.
Formula
Notional = price × multiplier × contracts.
Worked example
With the figures already in the form, notional value is $250,000.
Questions
Is notional the margin?
No. Margin is the deposit the clearer requires. Notional is the exposure.
What about a tick?
A tick’s dollar value is the tick size times the multiplier. Type the tick size as the price if that is the question, and one contract.