NAS100 Contract Notes
| Spec | Typical value |
|---|---|
| Point value per lot | $1.00 (broker-dependent) |
| Contract size | 1 per point |
| 1 pip / point | 1.0 index point |
| Session gaps | Yes, around cash-market open and close |
| Margin at 1:100 | ~1% of notional |
Sizing an Index CFD and Session-Gap Risk
Index CFD specifications are not standardized the way forex lots are. Some brokers quote NAS100 in 0.1 contracts, others in whole points, and the point value can differ, so the same 100 point stop can carry different risk from one broker to another. Confirm the specification, then size from points.
Indices also gap. When the underlying cash market opens or closes, or on scheduled news, price can jump past your stop, so the fill may be worse than the level you set. Size for the trade you intend, and treat the calculated risk as the best case rather than a guarantee.