TradeScopeFutures tick values
What one tick and one point are worth on the contracts most people trade, and a converter to turn a move into dollars.
- In ticks
- 8
- In points
- 2
- One tick
- $12.50
- One point
- $50
Per contract values are set by the exchange. Commission is not included.
Tick size, tick value and point value by contract
The tick value is what the smallest move is worth on one contract. The point value is what a move of 1.00 in price is worth.
point value = tick value ÷ tick size
profit or loss = ticks × tick value × contracts
Equity index futures
| Symbol | Contract | Exchange | Tick size | Tick value | Point value |
|---|---|---|---|---|---|
| ES | E-mini S&P 500 | CME | 0.25 | $12.50 | $50 |
| MES | Micro E-mini S&P 500 | CME | 0.25 | $1.25 | $5 |
| NQ | E-mini Nasdaq-100 | CME | 0.25 | $5 | $20 |
| MNQ | Micro E-mini Nasdaq-100 | CME | 0.25 | $0.50 | $2 |
| YM | E-mini Dow | CBOT | 1 | $5 | $5 |
| MYM | Micro E-mini Dow | CBOT | 1 | $0.50 | $0.50 |
| RTY | E-mini Russell 2000 | CME | 0.1 | $5 | $50 |
| M2K | Micro E-mini Russell 2000 | CME | 0.1 | $0.50 | $5 |
Energy futures
| Symbol | Contract | Exchange | Tick size | Tick value | Point value |
|---|---|---|---|---|---|
| CL | Crude Oil | NYMEX | 0.01 | $10 | $1,000 |
| MCL | Micro Crude Oil | NYMEX | 0.01 | $1 | $100 |
| NG | Natural Gas | NYMEX | 0.001 | $10 | $10,000 |
Metals futures
| Symbol | Contract | Exchange | Tick size | Tick value | Point value |
|---|---|---|---|---|---|
| GC | Gold | COMEX | 0.1 | $10 | $100 |
| MGC | Micro Gold | COMEX | 0.1 | $1 | $10 |
| SI | Silver | COMEX | 0.005 | $25 | $5,000 |
| HG | Copper | COMEX | 0.0005 | $12.50 | $25,000 |
Interest rate futures
| Symbol | Contract | Exchange | Tick size | Tick value | Point value |
|---|---|---|---|---|---|
| ZB | 30-Year U.S. Treasury Bond | CBOT | 1/32 | $31.25 | $1,000 |
| ZN | 10-Year U.S. Treasury Note | CBOT | 1/64 | $15.625 | $1,000 |
Currency futures
| Symbol | Contract | Exchange | Tick size | Tick value | Point value |
|---|---|---|---|---|---|
| 6E | Euro FX | CME | 0.00005 | $6.25 | $125,000 |
Reading the table
- Micros are one tenth. MES is a tenth of ES, MNQ a tenth of NQ, and the same for MYM, M2K, MCL and MGC. Ten micros carry the risk of one full contract.
- Treasury futures tick in fractions. ZB moves in 32nds of a point and ZN in 64ths, which is why their tick sizes aren’t round decimals.
- A “point” means 1.00 in price. For crude oil that is a full dollar a barrel and for Euro FX a full dollar per euro, so most intraday moves on those are a small fraction of a point. Think in ticks there.
Exchanges occasionally change contract specifications. Confirm with the exchange or your broker before relying on a number. To turn a stop into a number of contracts, use the position size calculator.
Questions
What is a tick in futures?
The smallest price move a contract can make. Each contract has its own tick size, set by the exchange. ES and NQ move in steps of 0.25, crude oil in steps of 0.01, and gold in steps of 0.10.
What is the tick value of ES?
One tick on the E-mini S&P 500 (ES) is 0.25 index points and is worth $12.50. Four ticks make one point, worth $50. On the micro contract, MES, a tick is worth $1.25 and a point $5.
What is the tick value of NQ?
One tick on the E-mini Nasdaq-100 (NQ) is 0.25 index points and is worth $5. One point is worth $20. On the micro contract, MNQ, a tick is worth $0.50 and a point $2.
What is the difference between a tick and a point?
A point is a move of 1.00 in the contract’s price. A tick is the smallest allowed move, which is usually a fraction of a point. On ES there are four ticks in a point; on crude oil there are one hundred.
How do I work out profit or loss from ticks?
Multiply the number of ticks by the tick value and by the number of contracts. A 12-tick move on two NQ contracts is 12 × $5 × 2, which is $120.
How much smaller is a micro contract?
One tenth. MES, MNQ, MYM, M2K, MCL and MGC are each one tenth the size of the full contract, so the tick value and point value are one tenth as well.
TradeScope
TradeScope already knows what every tick was worth on your trades.
It reads the point value of each instrument from your NinjaTrader 8 database, so P&L, drawdown and how far each trade moved against you are right for every contract you trade, including ones outside this list.
For NinjaTrader 8. Free for 7 days on your own trades. No card needed.
More calculators
- Position size calculatorHow many contracts to trade for a fixed dollar risk and stop.
- Prop firm evaluation calculatorDays to reach a profit target, and how many losses your limits allow.
- Prop firm break-even calculatorWhat an evaluation really costs, and the profit needed to earn it back.
These calculators are for education. They are not advice, and they can’t predict results. Trading futures involves substantial risk of loss. Contract specifications and prop firm rules change, so confirm them with the exchange, your broker or the firm.