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Contract Multiplier
The contract multiplier determines how the quoted option value translates into the economic value of the contract. For standard US equity options, the multiplier is commonly 100 shares.
Why it matters to you
An option quoted at: $4.50 with a 100 share multiplier represents: $450 of premium per contract before fees. Beginners who overlook the multiplier can badly misunderstand the actual cost of a trade.