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2025-06-13 13:07:26 Viraj Alankar: -/-

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`finance/investing.md` ..
@@ 139,7 139,17 @@
	```


-	The denominator should include the market value of options, i.e. the the value of options contract itself.
+	The denominator should include the market value of the option contract itself.
+
+	##### Futures
+
+	The numerator of the leverage ratio should include the notional exposures of futures. This is different depending on the contract type. For indexes it is usually:
+
+	```math
+	\text{Future Notional Exposure} = \text{Index Price} \times \text{Multiplier}
+	```
+
+	Futures do not cost anything. The denominator should include the gain or loss of the futures position.

	### Margin loan