Why is overnight margin so much higher than day margin?

Day margin only covers the risk during regular trading hours, when the broker can monitor and liquidate positions quickly. Overnight margin has to cover the risk of a large price move while markets are closed, which is why it's typically several times higher.

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How many futures contracts can I trade with my day-trading margin?

Q: How many futures contracts can I trade with my day-trading margin?

Divide your available futures trading capital by your broker's day margin per contract, rounded down to a whole contract. Add your overnight margin per contract to also see how many contracts you'd need to trim before holding past the close.

The market doesn't reward being right. It rewards managing being wrong, cheaply.

Jason Parker, Founder of Trading Habits

Enter Your Margin Figures

Day margin (intraday margin) is set by your broker and is usually much lower than overnight margin. Check your platform for current figures.

Your Result

Fill in the fields on the left and click Calculate to see your maximum day-trading contracts.

How this is calculated

Maximum day-trading contracts equals your available capital divided by the day margin per contract, rounded down to a whole contract.
Day margin is set by your broker and the exchange, and it changes, sometimes sharply, ahead of high-volatility events like FOMC meetings or major economic releases. Confirm the current figure with your broker before the session, not from memory.
Overnight margin (also called initial margin) is typically several times higher than day margin. A size that's comfortable intraday can be far too large to hold past the close.
This tool doesn't check your account's actual buying power live. It works from the numbers you enter.
Margin sizing tells you what you're allowed to trade. It doesn't tell you what you should risk, which depends on your own stop distance and risk-per-trade rule.

Risk & liability disclaimer: This calculator performs simple arithmetic on the numbers you enter and does not pull live margin data from any broker or exchange. Margin requirements vary by broker, change over time, and can increase without notice around volatile events. It is not financial advice. Futures trading involves substantial risk of loss and is not suitable for everyone. Trading Habits is not a broker-dealer, registered investment adviser, or tax professional, and is not affiliated with any broker, exchange, or data provider. Always confirm current margin requirements with your own broker before placing a trade.

How many futures contracts can I trade with my day-trading margin?

Enter Your Margin Figures

Your Result

How this is calculated

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