Futures Tick Values
Tick size, tick value and point value of 22 widely traded futures contracts, in one table.
| Symbol | Contract | Tick size | Tick value | Point value |
|---|---|---|---|---|
| Equity index | ||||
| ESE-mini S&P 500 | E-mini S&P 500 | 0.25 | $12.50 | $50 |
| MESMicro E-mini S&P 500 | Micro E-mini S&P 500 | 0.25 | $1.25 | $5 |
| NQE-mini Nasdaq-100 | E-mini Nasdaq-100 | 0.25 | $5 | $20 |
| MNQMicro E-mini Nasdaq-100 | Micro E-mini Nasdaq-100 | 0.25 | $0.50 | $2 |
| YME-mini Dow | E-mini Dow | 1 | $5 | $5 |
| MYMMicro E-mini Dow | Micro E-mini Dow | 1 | $0.50 | $0.50 |
| RTYE-mini Russell 2000 | E-mini Russell 2000 | 0.1 | $5 | $50 |
| M2KMicro E-mini Russell 2000 | Micro E-mini Russell 2000 | 0.1 | $0.50 | $5 |
| Energy | ||||
| CLCrude Oil | Crude Oil | 0.01 | $10 | $1,000 |
| MCLMicro Crude Oil | Micro Crude Oil | 0.01 | $1 | $100 |
| NGNatural Gas | Natural Gas | 0.001 | $10 | $10,000 |
| RBRBOB Gasoline | RBOB Gasoline | 0.0001 | $4.20 | $42,000 |
| Metals | ||||
| GCGold | Gold | 0.1 | $10 | $100 |
| MGCMicro Gold | Micro Gold | 0.1 | $1 | $10 |
| SISilver | Silver | 0.005 | $25 | $5,000 |
| HGCopper | Copper | 0.0005 | $12.50 | $25,000 |
| Rates | ||||
| ZB30-Year T-Bond | 30-Year T-Bond | 0.03125 | $31.25 | $1,000 |
| ZN10-Year T-Note | 10-Year T-Note | 0.015625 | $15.625 | $1,000 |
| ZF5-Year T-Note | 5-Year T-Note | 0.0078125 | $7.8125 | $1,000 |
| Currencies | ||||
| 6EEuro FX | Euro FX | 0.00005 | $6.25 | $125,000 |
| 6BBritish Pound | British Pound | 0.0001 | $6.25 | $62,500 |
| 6JJapanese Yen | Japanese Yen | 0.0000005 | $6.25 | $12,500,000 |
A symbol in red has its own page with examples and the NinjaTrader ATM numbers.
Commissions, exchange fees and slippage come off on top. This is the move times the tick value, nothing else.
Tick size, tick value and point value
Three numbers describe how a futures contract moves.
- The tick size is the smallest step the price can take. ES moves in steps of 0.25, gold in steps of 0.10.
- The tick value is what one of those steps is worth on one contract. On ES it is $12.50, on MES $1.25.
- The point value is what a move of one whole point is worth. On ES that is four ticks, so $50.
The tick value is always the point value times the tick size. The calculator on this page will not use a row where those three numbers disagree. Every row was also checked against the exchange and against NinjaTrader.
Working out a profit or a loss
Profit or loss is the ticks moved, times the tick value, times the number of contracts. Ten points on MES is 40 ticks, and 40 ticks of $1.25 is $50 on one contract. Commissions and fees come off on top.
To size a trade the other way round, from your stop and your risk to a number of contracts, use the futures position size calculator.
The same numbers in NinjaTrader
NinjaTrader keeps a tick size and a point value for every instrument. In the Control Center open Tools, then Instruments, search for the symbol and open it with a double-click or the Edit button. We checked all 22 rows of this table against NinjaTrader’s own instrument list, and every one matches.
Common questions
Do tick values change?
Rarely. They are part of the contract the exchange defines, so they stay the same from day to day and from broker to broker. What changes is margin and cost. Your broker sets its own commission and margin, on top of the exchange's minimum margin and fees.
Why is a micro worth a tenth of the E-mini?
Because the contract itself is a tenth of the size. MES is five dollars times the S&P 500 index where ES is fifty dollars times it, so every tick and every point is worth a tenth as much.
Is the price on my chart the same as the tick value?
No. The price is where the market trades. The tick value is what one step in that price is worth to you, and it is the same at any price.
Contract pages
- MNQ tick value, Micro E-mini Nasdaq-100 future
- MES tick value, Micro E-mini S&P 500 future
- NQ tick value, E-mini Nasdaq-100 future
- ES tick value, E-mini S&P 500 future
- GC tick value, Gold future
- MGC tick value, Micro Gold future
This page shows exchange contract specifications and does arithmetic on them. It is not trading advice. Futures trading carries substantial risk of loss. See our risk disclosure.