Mini Crude Oil (NQM)
The value of one future contract of Mini Crude Oil is 500 x the value of the price of one barrel of Light Sweet Crude Oil.
The contracts are traded on CME.
Contract specifications
- Underlying value : 500 barrels Light Sweet Crude Oil
- Contract size : 500 barrels
- Value : price / barrel x 500
- Minimum Price movement : 0,025 (= $ 12,50 per contract)
- Contract listings : monthly
- Physical delivery
- Expiration date : trading in the current delivery month shall cease on the business day immediately preceding to the last day of trading in the current delivery month of the NYMEX Light Sweet Crude Oil futures contract.
Trading example
- The price of one barrel of Lite Sweet Crude Oil at 73 $
- The value of one future contract for Mini Crude Oil is 73 x 500 $ = 36.500 $.
- Buy at 73 $ / barrel and sell at 73,50 $ / barrel.
- The minimum price movement of the contract or tick is 0,025 index point.
- The value of one tick is 12,50 $
- The value of 0,5 points = 20 ticks x 12,50 $ = 250 $
When the price for one barrel crude oil goes up from 73 to 73,50 a profit of 250 $ is realised.
