Lumen Futures Blog
Getting Started
Order types, margin, and the terms a new futures trader meets first, each explained from the exchange's own definitions.
Getting StartedOctober 21, 2026What Is the Notional Value of a Futures Contract?
Notional value is the size of the underlying position one futures contract stands for — the contract's unit multiplied by the price — and it is a different number from the margin you post to hold it.
- Getting StartedOctober 11, 2026
How Does a Trailing Stop Work in Futures?
A trailing stop keeps a set distance behind the market and is not repriced when price turns back; neither of the two CME pages listing the Globex order types includes it, so something between you and the exchange computes every move.
- Getting StartedOctober 7, 2026
Open Interest vs Volume in Futures: What Each One Counts
Volume counts the futures contracts traded in a period and open interest counts the ones still open, so here is how a single trade moves each, what 17 CFR 16.01 makes a reporting market record and publish, and why open interest only arrives a business day after the session.
- Getting StartedOctober 6, 2026
Tick Size vs Tick Value in Futures: What One Tick Is Worth
Tick size is the smallest increment a contract may trade in; tick value is what that increment pays. One multiplication connects them, and it explains why a smaller contract sometimes has a larger dollar tick.
- Getting StartedSeptember 23, 2026
Stop Loss vs Stop Limit in Futures: What Each One Does When It Triggers
A stop order becomes a market order at your trigger price and a stop limit becomes a limit order, but on CME Globex both cap the fill, and whatever does not fill rests at that cap.
- Getting StartedSeptember 15, 2026
Market Order vs Limit Order in Futures: Which One Fills, and at What Price
A market order takes whatever price the book offers and a limit order names the worst price you will accept; on CME Globex, whatever a market order cannot fill inside the protected range rests on the book as a limit order.
- Getting StartedSeptember 1, 2026
Day Trading Margin vs Overnight Margin in Futures
Overnight margin is the exchange requirement for carrying a futures position through the close; day trading margin is a lower number your broker offers you, and it disappears before the session ends.