Charles Schwab Futures & Forex has launched Single Stock Futures on more than 50 prominent U.S. stocks, offering retail traders a new way to gain leveraged exposure to individual companies outside standard market hours. The cash-settled contracts, available now on the thinkorswim platform and traded on the Chicago Mercantile Exchange (CME), represent a significant expansion of the brokerage’s derivatives offerings.
- Coverage: More than 50 high-profile U.S. stocks from the S&P 500 and Nasdaq-100
- Contract Size: Each standard contract represents 100 shares
- Settlement: Cash-settled futures based on underlying price movements at a set future date
- Client Assets: Schwab manages $13.08 trillion with 11.9 million daily average trades in Q2 2026
Single Stock Futures require less initial capital than purchasing shares outright while providing direct price exposure without the complexities of physical share delivery. The contracts allow traders to establish long or short positions without stock borrow fees or short-sale restrictions, and enable around-the-clock trading to react to news outside regular market hours. Unlike options, Single Stock Futures avoid time decay and other option Greeks, simplifying the trading mechanics for some users.
James Kostulias, Managing Director and Head of Trading Services at Schwab, noted that Index Futures already represent approximately 75% of the firm’s futures trading volume, indicating strong retail demand for derivatives. The addition of Single Stock Futures positions the brokerage to capture traders who have historically focused on equities while expanding its derivatives suite beyond index-based products.
Schwab emphasized that futures trading involves substantial risk and is not suitable for all investors. Single Stock Futures can result in losses exceeding the initial investment with even modest price movements, requiring disciplined risk management. Trading privileges are subject to review and approval, with not all clients qualifying for access to these leveraged products.
James Kostulias, Managing Director and Head of Trading Services at Schwab. Source: LinkedIn
