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contract size

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Contract Size
The deliverable quantity of goods or commodities underlying futures, forward, and option contracts.

Notes:
Each contract will have a well defined contract size. For example, most equity options have a contract size of 100 shares. So, if the option is exercised, 100 shares of the underlying company must be transferred between the option holder and writer.

contract size
In futures and options, the size or amount of an asset to be delivered. For example, stock options nearly always specify 100 shares, while a silver futures contract on the Chicago Mercantile Exchange stipulates 5,000 troy ounces.
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