You are welcome and encouraged to take your own notes! We have also compiled some notes of our own throughout the course, for you to study.

NOTES

• Futures contracts are a type of derivative contract agreement to buy or sell a specific commodity asset or security at a set future date for a set price. 

• futures contracts are traded on exchanges like the CME Group and require brokerage account that is approved to trade futures.

• A futures contract gets its name from the fact that the buyer and seller of the contract are agreeing to a price today for some asset or security that is to be delivered in the future. 

• You dont receive the asset/security physically.

• Futures contracts have expiration dates and set prices are known in advance. 

• Futures are identified by their expiration month. 
  • ex: a December gold futures contract expires in December.

"Not everyone in the futures market wants to exchange a product in the future. These people are futures investors or speculators, who seek to make money off of price changes in the contract itself. If the price of jet fuel rises, the futures contract itself becomes more valuable, and the owner of that contract could sell it for more in the futures market. These types of traders can buy and sell the futures contract, with no intention of taking delivery of the underlying commodity; they're just in the market to wager on price movements." https://www.nerdwallet.com/article/investing/started-futures-trading