Contract Unit

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Contract Unit

A standardized size represented in a single option or futures contract. For example, a contract unit may be so many bushels or so many kilograms. The contract unit differs according to the commodity that underlies the contract.
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References in periodicals archive ?
"Some of our contract units with non-Hubbard refrigeration systems were replaced recently with further contract units and we insisted on Hubbard systems being fitted.
managed care companies, with its health maintenance organization, point-of-service, insured preferred provider organization and government contract units providing health benefits to about 6.4 million people in 27 states and the District of Columbia through group, individual, Medicare, Medicaid and Tricare programs.
23, the volume of such trading doubled from the previous day to 117 contract units. One unit is 1,200 kilograms.