How many contracts to buy for 3x leverage in futures?

Ups, that was before my morning coffee. Should be the inverse of the fraction, so, 100000/199250*3=1.5 contracts. That would result in a position 3 times the size of the account balance so all gains and losses are amplified 3x the actual return, of course RELATIVE to the account balance. To get an accurate 3x exposure on a 100k account one would obviously have to trade the micro contracts or via other correlated instruments that allow for that much leverage.

That only addressed part of his question. Given your example and an assumed account balance of 100k OP would have to buy roughly 6 contracts. (199250/100000*3)
 
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