Futures Contract Specifications & Tick Value Calculator
Every CME, ICE and Eurex contract in one table — contract unit, minimum price fluctuation, and the dollar value of one tick. Plus calculators for position P&L and margin.
Contract Specifications →
135 contracts: contract unit, tick size, tick value and delivery months. Searchable.
Tick Value & P/L →
Convert a price move into dollars. Works for any contract on the site.
Margin & Leverage →
Position size from account equity, or the margin a position will tie up.
The four numbers that define a futures contract
Every futures contract is fully described by four values. Once you know them, you can price any trade in dollars.
| Term | What it is | Example (E-mini S&P 500) |
|---|---|---|
| Contract unit | How much of the underlying one contract represents | $50 × the index |
| Tick size | Minimum price increment the market can move | 0.25 index points |
| Tick value | Dollars gained or lost per tick, per contract | $12.50 |
| Point value | Dollars per one full index point | $50.00 |
Tick value = Tick size × Contract unit. For ES: 0.25 × $50 = $12.50. That single multiplication is the whole game — every P&L on this site comes from it.
Most-traded contracts
| Contract | Symbol | Exchange | Contract unit | Tick size | Tick value |
|---|---|---|---|---|---|
| Micro E-mini S&P 500 | MES | CME | $5 × index | 0.25 | $1.25 |
| E-mini S&P 500 | ES | CME | $50 × index | 0.25 | $12.50 |
| Micro E-mini Nasdaq-100 | MNQ | CME | $2 × index | 0.25 | $0.50 |
| E-mini Nasdaq-100 | NQ | CME | $20 × index | 0.25 | $5.00 |
| Micro WTI Crude Oil | MCL | NYMEX | 100 barrels | 0.01 | $1.00 |
| Crude Oil | CL | NYMEX | 1,000 barrels | 0.01 | $10.00 |
| Micro Gold | MGC | COMEX | 10 oz | 0.10 | $1.00 |
| Gold | GC | COMEX | 100 oz | 0.10 | $10.00 |
Guides
Fundamentals
What Is Tick Value? →
Tick value vs point value, the formula, and the three quoting conventions that break the maths.
Futures vs Stocks →
Mark-to-market, leverage, expiry, symmetric shorting — what actually differs.
Reading Futures Symbols →
ES, NQ, CL, ZB, 6E — roots, month codes and why M means micro.
Choosing a Contract →
Five questions, starting with whether one contract fits your risk budget.
Margin Explained →
Initial vs maintenance, the intraday trap, and why margin is not your risk.
Rolls Explained →
When to roll, what contango costs, and why the roll is never automatic.
Volume & Open Interest →
What the four price/OI combinations mean, and why OI lags a day.
Trading Hours →
Globex sessions and where overnight gap risk actually lives.
Micro Futures Guide →
Every micro contract with tick values, and the two real disadvantages.
ES vs MES →
Same index, one tenth the size. Commission drag is the real difference.
Contract guides
Treasury 32nds Explained →
Why 110-16 is not 110.16, and the tick size of every treasury contract.
Gold (GC) →
100 oz, $10 per tick, and why the E-mini has a bigger tick value.
Crude Oil (CL) →
1,000 barrels, $10 per tick, and why the roll is not free.
Silver (SI) →
5,000 oz, $25 per tick, and the industrial demand behind it.
Natural Gas (NG) →
10,000 MMBtu, $10 per tick, and expiry risk.
Nasdaq-100 (NQ) →
$20 per point, and how NQ sizing differs from ES.
Copper (HG) →
25,000 lb, $12.50 per tick, and the cents-per-pound trap.
Dow & Russell (YM, RTY) →
Two $50 contracts, two different tick values.
Euro FX (6E) →
125,000 EUR, $6.25 per tick, and pips vs ticks.
Corn, Soybeans, Wheat →
5,000 bushels, quarter-cent ticks, and what 445-4 means.
Why traders get tick value wrong
Confusing tick value with point value. On ES a one-point move is $50. A one-tick move is $12.50. New traders budget for “a 5 point stop” without realising that is $250 per contract, not $50.
Assuming micros are always 1/10th of the full contract. Usually true (MES vs ES, MCL vs CL, MGC vs GC) but not guaranteed across every product — always check the table rather than divide by ten.
Forgetting treasuries quote in fractions. ZB moves in 1/32 of a point, worth $31.25. A 1/64 move on ZN is $15.625. That is not a decimal tick and it breaks spreadsheets that assume two decimal places.
What this site does not tell you
It gives you the numbers. It does not give you a view on direction, and it is not a recommendation. Margin requirements shown anywhere on this site are illustrative — the exchange and your broker set the real number and change it without notice.
Most-looked-up contracts
- E-mini S&P 500 (ES)
- E-mini Nasdaq-100 (NQ)
- Crude Oil (CL)
- Gold (GC)
- Euro FX (6E)
- Corn (ZC)
- Silver (SI)
- Natural Gas (NG)
- Copper (HG)
Complete list of all 135: futures contract specifications.