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Platinum (PL) Futures Contract Specifications

Understanding the contract specifications for Platinum (PL) futures (PL) is essential for effective trading and risk management. This comprehensive guide covers all the critical details you need including tick values, contract sizes, trading hours, and position sizing strategies to help you trade Platinum (PL) futures successfully.

What Are Platinum (PL) Futures?

Platinum Futures (PL) provide traders with exposure to platinum prices without the need to hold physical platinum. These contracts are used for speculation on platinum price movements, hedging industrial metal needs, or diversifying investment portfolios with a precious metal that has significant industrial applications.

The Platinum (PL) futures contract (PL) is traded on major exchanges and provides traders with opportunities to profit from price movements in the metals market. Understanding the contract specifications is crucial for proper position sizing and risk management when trading these instruments.

Contract Size

Contract Size: 50 troy ounces

Example: This contract size allows traders to gain exposure to metals with controlled leverage and risk. Understanding the contract size is fundamental to calculating your position size and managing your trading capital effectively.

Tick Value and Increment

  • Tick Size: 0.10 USD per troy ounce
  • Tick Value: $5.00 per tick
  • Point Value: $50.00 per point

These specifications make Platinum (PL) futures suitable for traders seeking exposure to metals markets.

The tick value represents the minimum price fluctuation, which directly impacts your profit and loss calculations. Knowing these values is essential for setting stop losses and calculating risk per contract.

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Trading Hours

Platinum (PL) futures trade with extended hours, providing flexibility for traders in different time zones and allowing you to react to global market events.

  • Exchange: NYMEX
  • Trading Hours: Sunday to Friday, nearly 24 hours a day with a short break
  • Time Zone: Central Time (CT)

Trading Symbol

Platform Symbol: PL

Margin Requirements

To trade Platinum (PL) futures, you'll need to meet specific margin requirements. Margin requirements can vary based on your broker and account type.

Initial margin is the amount required to open a position, while maintenance margin is the minimum account balance needed to keep the position open. Check with your broker for current margin rates.

Why Trade Platinum (PL) Futures?

  • Exposure to a precious metal with significant industrial applications
  • Portfolio diversification beyond gold and silver
  • Hedging tool for automotive and industrial sectors using platinum
  • Extended trading hours covering all global market sessions
  • Standardized contract specifications and regulated exchange

Risk Management for Platinum (PL) Futures

Effective risk management is crucial when trading Platinum (PL) futures. Here are key considerations:

  • Position Sizing: Never risk more than 1-2% of your account on a single trade. Use our position size calculator to determine the appropriate number of contracts.
  • Stop Loss Orders: Always use stop loss orders to limit potential losses. Calculate your stop loss distance based on the point value and tick size.
  • Account Balance: Ensure you have adequate capital to meet margin requirements and handle drawdowns. Consider starting with micro contracts if you're new to futures trading.

Position Sizing for Platinum (PL) Futures

Proper position sizing is crucial when trading Platinum (PL) futures. Use our position size calculator to determine the optimal number of contracts based on your risk tolerance and account size.

Position Size Calculator Example

For Platinum (PL) futures (PL):

  • Tick Size: 0.10 USD per troy ounce
  • Tick Value: $5.00 per tick
  • Point Value: $50.00 per point

If you want to risk $500 with a 10-point stop loss:

Risk per Contract = Stop Loss in Points × Point Value = 10 × 50.00 per point = $500

Maximum Contracts = Risk Amount ÷ Risk per Contract = $500 ÷ $500 = 1 contract

Try our position size calculator for precise calculations →

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