Futures Tick Value Chart and Calculator: ES, NQ, YM, RTY, CL, GC and Micros

Every futures contract moves in fixed steps called ticks, and every tick is worth a fixed number of dollars. Knowing both numbers is the starting point for sizing a trade. Always confirm specifications on cmegroup.com before trading, since they can change.

Tick value and position-size calculator

Pick a contract to see its tick value, work out what a price move is worth, and find out how many contracts fit your risk limit. The chart and worked examples are below.

The chart

The formula

Profit or loss = ticks moved × tick value × number of contracts, before commissions and fees. Or, using points: points moved × dollars per point × contracts.

Worked examples (hypothetical)

• ES moves 8 points against 2 contracts: 8 × $50 × 2 = $800 loss
• MNQ moves 30 points in your favor on 4 contracts: 30 × $2 × 4 = $240 gain
• CL moves $0.35 against 1 contract: 35 ticks × $10 = $350 loss
• MGC moves $5.00 in your favor on 3 contracts: 5 × $10 × 3 = $150 gain

Ticks vs. points: a common confusion

On ES, NQ, MES and MNQ a point is four ticks (0.25 each). On YM, a tick is a full point. On RTY, a point is ten ticks (0.10 each). Check which unit your platform's chart shows.

Use tick value to size risk

1. Decide the dollar amount you're willing to lose on the trade
2. Measure the distance from entry to your stop in ticks or points
3. Cost of the stop per contract = distance × tick value
4. Contracts = risk amount ÷ cost per contract, rounded down

If the result is less than one standard contract, use the micro version. Details in micro vs. E-mini and risk management rules.

Fees and slippage

Tick-value math ignores commissions, exchange and clearing fees, and slippage (fills away from your intended price). Include them when you plan. They add up, especially on small targets.

Tick value, point value and contract value are different

Risk calculations use tick or point value, because those tell you what a move costs. Notional value explains why margin is much smaller than the size of the position, but it is not a measure of how much you can lose on a normal move.

How each market family is quoted

• Equity index futures: quoted in index points. ES and NQ tick in quarters of a point, YM ticks in whole points, and RTY ticks in tenths.
• Crude oil: quoted in dollars and cents per barrel. A $0.01 tick on 1,000 barrels is $10, so a $1.00 move is 100 ticks, or $1,000 per contract.
• Gold: quoted in dollars per ounce. A $0.10 tick on 100 ounces is $10, so a $1.00 move is 10 ticks, or $100 per contract.

Common mistakes when reading tick values

• Mixing up ticks and points, especially moving between ES (4 ticks per point) and YM (1 tick per point)
• Forgetting that a micro is one-tenth the dollar value, so ten micros equal one standard contract
• Treating a crude oil move of "a dollar" as small when it is $1,000 on one contract
• Using a stale specification instead of checking the exchange
• Ignoring commissions and slippage, which matter most on small targets

Last reviewed November 12, 2026. Contract specifications are set by the exchange and can change, so always confirm them on cmegroup.com before trading.

Next: learn how to size a trade from your stop in futures risk management, or compare contracts in MNQ vs NQ and ES vs NQ.

This article is for educational and informational purposes only and is not financial, investment or trading advice. Futures trading involves substantial risk of loss. Hypothetical examples are illustrative and do not represent actual trades or results. Full disclaimer.