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Contract size refers to the deliverable quantity of a stock, commodity, or other financial instruments that underlie a futures or options contract. It is a standardized amount that tells buyers and sellers exact quantities that are being bought or sold, based on the terms of the contract.

A "continuous futures" contract represents a sequence of successively expiring lead futures contracts along with an associated interval during which each future is the lead. This allows us to construct a normalized historical data series for the contract.

The maximum duration for a futures contract is three months. In a typical futures and options transaction, the traders will usually pay only the difference between the agreed upon contract price and the market price.

Each futures contract specifies is the quantity of the product delivered for a single contract, also known as contract size. For example: 5,000 bushels of corn, 1,000 barrels of crude oil or Treasury bonds with a face value of $100,000 are all contract sizes as defined in the futures contract specification.

The futures expiration day is when a futures contract will cease to exist. Holding a contract past this expiration date will trigger obligations for you to purchase the underlying asset. Options provide you the option to exercise your rights.

Automatic Rollover of Expiring Futures ContractsWhen specified in Global Configuration, the system automatically rolls soon-to-expire futures data lines to the next lead month. Approximately three days prior to expiration, the new lead month contract will be added to quote monitor.

What is a Continuous Chart? A continuous futures chart is not a real futures contract. Instead, it is several previous futures contracts that have been stitched together to create a long-term chart of the price history as shown in Fig 3. for Bank of Baroda continuous chart.