The actual size of the derivatives market depends on what a person considers part of the market and so estimates vary widely. The entire derivatives market is, simply put, huge, and top estimates can be more than $1 quadrillion on the high end, based on what is included as a derivative. The larger estimates come from adding up the notional value of all available derivatives contracts. For example, the overall derivatives markets include products including options, warrants, swaps, credit default swaps, futures contracts, and forward contracts, as just a handful of examples. Some analysts argue that such a calculation doesn't reflect reality, in that the notional value of a derivative contract's underlying assets does not represent the actual market value.