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Futures Tick Value Calculator

Pick a contract and see what one tick and one point are worth, what a trade made or lost, and how many ticks a dollar amount buys you. Every value comes from the exchange's contract specification, not from a broker, so it is the same on Tradovate, Rithmic, TopstepX or anywhere else.

5 min readChecked 14 October 2026

Tick value calculator

Specs from CME Group, checked 14 October 2026

Unit
Side
Tick value
–
Point value
–
Ticks per point
–
Ticks moved
–
Gross P&L
–
Net P&L (after fees)
–
Notional at entry
–
Exact ticks
–
Whole ticks
–
Points
–

Arithmetic on the numbers you enter. Not advice.

Tick values for the most-traded futures

Contract Symbol Multiplier Tick size Tick value Point value Ticks per point
E-mini S&P 500 ES $50 × index 0.25 $12.50 $50 4
Micro E-mini S&P 500 MES $5 × index 0.25 $1.25 $5 4
E-mini Nasdaq-100 NQ $20 × index 0.25 $5.00 $20 4
Micro E-mini Nasdaq-100 MNQ $2 × index 0.25 $0.50 $2 4
E-mini Dow ($5) YM $5 × index 1.00 $5.00 $5 1
Micro E-mini Dow MYM $0.50 × index 1.00 $0.50 $0.50 1
E-mini Russell 2000 RTY $50 × index 0.10 $5.00 $50 10
Micro E-mini Russell 2000 M2K $5 × index 0.10 $0.50 $5 10
Crude Oil (WTI) CL 1,000 barrels $0.01 $10.00 $1,000 per $1 100
Micro WTI Crude Oil MCL 100 barrels $0.01 $1.00 $100 per $1 100
Gold GC 100 troy oz $0.10 $10.00 $100 per $1 10
Micro Gold MGC 10 troy oz $0.10 $1.00 $10 per $1 10

Values per contract, from CME Group contract specifications (links at the bottom). Checked 14 October 2026. Exchanges can change specs, so check your platform's contract info before you trade.

A quick rule: every micro equity and metals contract listed here is one tenth of its full-size version. One NQ tick is worth ten MNQ ticks.

Tick value per contract for ES, MES, NQ, MNQ, CL and GCESE-mini S&P 500$12.50per tick · point $50MESMicro E-mini S&P$1.25per tick · point $5NQE-mini Nasdaq-100$5.00per tick · point $20MNQMicro E-mini Nasdaq$0.50per tick · point $2CLCrude oil (WTI)$10.00per tick · point $1,000 / $1GCGold$10.00per tick · point $100 / $1
One tick, one contract. Source: CME Group contract specifications, checked 14 October 2026.

How tick value is calculated

Tick value = tick size × contract multiplier

  • ES: 0.25 × $50 = $12.50
  • MNQ: 0.25 × $2 = $0.50
  • CL: $0.01 × 1,000 barrels = $10.00
  • GC: $0.10 × 100 oz = $10.00

Point value = multiplier (what a one-point move, or a $1 move in oil or gold, is worth on one contract).

Ticks per point = 1 ÷ tick size (ES: 1 ÷ 0.25 = 4; CL: 1 ÷ 0.01 = 100).

Tick value equals tick size times multiplier: 0.25 times $50 is $12.50 on ESTick size0.25index pointsMultiplier$50per pointTick value$12.50per contract×=ES example. Ticks per point = 1 ÷ tick size = 4
The same formula works for every contract: CL is $0.01 × 1,000 barrels = $10.00.

Turning ticks into profit and loss

P&L = ticks moved × tick value × contracts − fees

where ticks moved = (exit − entry) ÷ tick size for a long, and (entry − exit) ÷ tick size for a short.

Worked examples (prices are illustrative):

  • NQ, 20-point move, 1 contract: 20 points = 80 ticks. 80 × $5.00 = $400. On MNQ, the same move is 80 × $0.50 = $40.
  • ES short, 2 contracts, sold 6,000.00, bought back 5,990.00: 10 points = 40 ticks. 40 × $12.50 × 2 = $1,000 gross.
  • CL long, bought 70.00, sold 69.75: −25 ticks × $10.00 = −$250.
  • GC long, bought 2,400.0, sold 2,405.3: 53 ticks × $10.00 = $530.
Profit on a 20-point move: NQ $400, MNQ $40, ES $1,000, MES $100NQ · 1 contract$400MNQ · 1 contract$40ES · 1 contract$1,000MES · 1 contract$100
A 20-point move, gross, before fees. Micros are one tenth of their mini.

How many ticks is $X?

Ticks = dollar amount ÷ (tick value × contracts)

This is the question prop traders ask most: "how far can price move against me before I hit my limit?" With $500 of room on one MNQ, that is 500 ÷ 0.50 = 1,000 ticks (250 points). On one NQ it is 100 ticks (25 points). Use the trailing drawdown calculator to find your room first, and the position size calculator to turn it into a contract count.

Contract value (notional)

Notional value = price × multiplier × contracts

At an illustrative ES price of 6,000, one ES controls 6,000 × $50 = $300,000 of S&P 500 exposure; one MES controls $30,000. Leverage works both ways: futures losses can exceed the margin you post.

Questions people ask

How much is one tick on MNQ?

$0.50 per contract. MNQ moves in 0.25-point ticks and each index point is worth $2.

How much is one tick on NQ?

$5.00 per contract (0.25 points × $20). One NQ point is $20.

What is the ES tick value?

$12.50 per contract. ES moves in 0.25-point ticks and each point is worth $50. MES is $1.25 per tick.

What is the tick value of crude oil (CL)?

$10.00 per contract for a $0.01 move. A $1.00 move in crude is $1,000 on CL and $100 on MCL.

What is the gold (GC) tick value?

$10.00 per contract for a $0.10 move; $100 per $1 move. Micro gold (MGC) is $1.00 per tick.

How many MNQ contracts equal one NQ?

Ten. MNQ's multiplier ($2) is one tenth of NQ's ($20), with the same tick size.

Does tick value change with price?

No. Tick value is fixed by the contract spec. What changes with price is the notional value of the contract, and usually the margin.

Is tick value the same on every broker or prop firm?

Yes. It is set by the exchange. Commissions, fees and the contract limits a prop firm allows differ, but the value of a tick does not.

Sources

Trade one account, copy to the rest at the size you choose.

Edgeable copies your leader's orders to every follower account with its own size multiplier, max-contracts cap and daily loss limit, so a 2-lot MNQ on your leader can be a 1-lot on a 50K eval and a 3-lot on a 150K. Runs in the cloud. Works with Tradovate and Rithmic. Start with Edgeable.

See how sizing works

Futures trading involves substantial risk of loss. This calculator does arithmetic on the numbers you enter; it is not advice. Risk disclosure.

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