Long Position
Owning an asset, or a contract to buy it, in the expectation that its price will rise.
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CL: Crude Oil Futures
Crude oil (CL) is the world's most actively traded commodity future — a physically-settled contract on WTI crude, driven by geopolitics, OPEC and the global economy. Learn its specifications, why physical settlement matters, the meaning of contango and backwardation, and the cautionary tale of negative oil prices.
ES: E-mini S&P 500 Futures
The E-mini S&P 500 (ES) is the world's most heavily traded equity-index future — the benchmark instrument for gaining or hedging exposure to the US stock market around the clock. Learn what it tracks, its key specifications, why it's so widely used, and how it differs from an ETF like SPY.
Futures Contract Specifications
Every futures contract is defined by a precise set of specifications — the underlying, contract size, tick size and value, expiry months and settlement type. Learn to read a contract's 'specs', why the multiplier and tick value determine your real exposure, and how mini and micro contracts scale risk to fit your account.
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