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Contract Specifications

Commodities

Find important information regarding contract specifications for commodities, including expiration times, trading hours, underlying markets and more.

Please ensure that you understand the relevant contract specifications before trading. If you need any clarification, please contact Nadex and our trading support team can advise you further.

All times below are in Eastern (EST) and trading hours are subject to holidays. You can also see the rollover schedule for the futures underlying markets comprising Nadex’s contracts.

Binary option contracts Knock-out contracts Call spread contracts

Binary option contracts

Our metals contracts are based on the underlying COMEX/NYMEX® Futures:

Nadex product Underlying market Lead months
GOLD COMEX/NYMEX® Gold Futures Feb., April, June, Aug., Dec.
SILVER COMEX/NYMEX® Silver Futures March, May, July, Sept., Dec.

Gold

Position limit: 250,000

Duration Expiration Strike width No. of contracts Trading hours
Intraday Mon-Fri: 10am, 11am, 12pm, 1pm 3 9 For 2 hours preceding expiration
Daily Mon-Fri, 1:30pm 3 21 Sun-Fri, 6pm-1:30pm
Weekly Fri, 1:30pm 10.0 13 Sun-Thu, 6pm-5pm; Thu-Fri, 6pm-1:30pm

Silver

Position limit: 250,000

Duration Expiration Strike width No. of contracts Trading hours
Intraday Mon-Fri: 10am, 11am, 12pm, 1pm 0.06 9 For 2 hours preceding expiration

Our energies contracts are based on NYMEX® Futures:

Nadex product Underlying market Lead months
CRUDE OIL NYMEX® Crude Oil Futures Every calendar month
NATURAL GAS NYMEX® Natural Gas Futures Every calendar month

Crude oil

Position limit: 250,000

Duration Expiration Strike width No. of contracts Trading hours
Intraday Mon-Fri: 10am, 11am, 12pm, 1pm, 2pm 0.2 9 For 2 hours preceding expiration
Daily Mon-Fri, 2:30pm 0.4 23 Sun-Fri, 6pm-2:30pm
Weekly Fri, 2:30pm 1.00 13 Sun-Thu, 6pm-5pm; Thu-Fri, 6pm-2:30pm

Natural gas

Position limit: 250,000

Duration Expiration Strike width No. of contracts Trading hours
Intraday Mon-Fri: 10am, 11am, 12pm, 1pm, 2pm 0.01 9 For 2 hours preceding expiration
Daily Mon-Fri, 2:30pm 0.06 15 Sun-Fri, 6pm-2:30pm
Weekly Fri, 2:30pm 0.20 13 Sun-Thu, 6pm-5pm; Thu-Fri, 6pm-2:30pm

Knock-out contracts

Gold

Position limit: 100

Duration Expiration Range No. of contracts Trading hours Minimum tick size
Weekly Earlier of 1:30pm or when Gold Index Value = or is > than the ceiling, or = or is < the floor 20 4 Mon, 3am-5pm; Mon-Fri, 6pm-1:30pm 0.1

Silver

Position limit: 100

Duration Expiration Range No. of contracts Trading hours Minimum tick size
Weekly Earlier of 1:25pm or when Silver Index Value = or is > than the ceiling, or = or is < the floor 0.75 4 Mon, 3am-5pm; Mon-Fri, 6pm-1:25pm 0.01

Crude oil

Position limit: 100

Duration Expiration Range No. of contracts Trading hours Minimum tick size
Weekly Earlier of 2:30pm or when Crude Oil Index Value = or is > than the ceiling, or = or is < the floor 1.5 4 Mon, 3am-5pm; Mon-Fri, 6pm-2:30pm 0.01

Natural gas

Position limit: 100

Duration Expiration Range No. of contracts Trading hours Minimum tick size
Weekly Earlier of 2:30pm or when Natural Gas Index Value = or is > than the ceiling, or = or is < the floor 0.25 4 Mon, 3am-5pm; Mon-Fri, 6pm-2:30pm 0.001

Call spread contracts

Our metals contracts are based on the underlying COMEX/NYMEX® Futures:

Nadex product Underlying market Lead months
GOLD COMEX/NYMEX® Gold Futures Feb., April, June, Aug., Dec.
SILVER COMEX/NYMEX® Silver Futures March, May, July, Sept., Dec.

Gold

Position limit: 250

Duration Expiration Range No. of contracts Trading hours Minimum tick size
2-hour Mon-Fri: 10am, 11am, 12pm, 1pm 15.0 3 For 2 hours 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 Sun-Fri, 6pm-1:30pm 0.1
Daily Mon-Fri, 1:30pm 100.0 1 Sun-Fri, 6pm-1:30pm 0.1

Silver

Position limit: 250

Duration Expiration Range No. of contracts Trading hours Minimum tick size
2-hour Mon-Fri: 10am, 11am, 12pm, 1pm 0.50 3 For 2 hours 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 Sun-Fri, 6pm-1:25pm 0.01
Daily Mon-Fri, 1:25pm 4.00 1 Sun-Fri, 6pm-1:25pm 0.01

Our energies contracts are based on NYMEX® Futures:

Nadex product Underlying market Lead months
CRUDE OIL NYMEX® Crude Oil Futures Every calendar month
NATURAL GAS NYMEX® Natural Gas Futures Every calendar month

Crude oil

Position limit: 250

Duration Expiration Range No. of contracts Trading hours Minimum tick size
2-hour Mon-Fri: 10am, 11am, 12pm, 1pm, 2pm 1.50 5 For 2 hours 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 Sun-Fri, 6pm-2:30pm 0.01
Daily Mon-Fri, 2:30pm 10.00 1 Sun-Fri, 6pm-2:30pm 0.01

Natural gas

Position limit: 250

Duration Expiration Range No. of contracts Trading hours Minimum tick size
2-hour Mon-Fri: 10am, 11am, 12pm, 1pm, 2pm 0.200 3 For 2 hours 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 Sun-Fri, 6pm-2:30pm 0.001
Daily Mon-Fri, 2:30pm 1.000 1 Sun-Fri, 6pm-2:30pm 0.001

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.

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