How to use the futures tick value calculator
Choose a contract from the list, or pick the custom option and enter your own tick size and tick value. Enter your entry price, exit price and number of contracts to see the profit or loss, then enter a stop distance in ticks to see how much you would risk.
Ticks, points and tick value
A tick is the smallest price increment a futures contract can move. The tick value is how many dollars one tick is worth on one contract. A point is a move of 1.00 in the quoted price, and the point value equals the tick value divided by the tick size.
Take the E-mini S&P 500 (ES). Its tick size is 0.25 and its tick value is $12.50, so there are four ticks in a point and one point is worth $50. Traders often mix up ticks and points, so always check which one a platform, a course or an account rule is using. A 10-point stop on ES is 40 ticks, or $500 per contract, not $125.
Contract specifications
The table lists the contracts in the calculator. All values are per contract.
| Contract | Symbol | Tick size | Tick value | Point value |
|---|---|---|---|---|
| E-mini S&P 500 | ES | 0.25 | $12.50 | $50 |
| Micro E-mini S&P 500 | MES | 0.25 | $1.25 | $5 |
| E-mini Nasdaq-100 | NQ | 0.25 | $5.00 | $20 |
| Micro E-mini Nasdaq-100 | MNQ | 0.25 | $0.50 | $2 |
| E-mini Dow | YM | 1 | $5.00 | $5 |
| Micro E-mini Dow | MYM | 1 | $0.50 | $0.50 |
| E-mini Russell 2000 | RTY | 0.10 | $5.00 | $50 |
| Micro E-mini Russell 2000 | M2K | 0.10 | $0.50 | $5 |
| Crude oil (WTI) | CL | 0.01 | $10.00 | $1,000 |
| Micro WTI crude oil | MCL | 0.01 | $1.00 | $100 |
| Natural gas | NG | 0.001 | $10.00 | $10,000 |
| Gold | GC | 0.10 | $10.00 | $100 |
| Micro gold | MGC | 0.10 | $1.00 | $10 |
| Silver | SI | 0.005 | $25.00 | $5,000 |
| Euro FX | 6E | 0.00005 | $6.25 | $125,000 |
Exchanges can change contract specifications, so confirm them on the exchange's contract page before you trade a market for the first time.
Micros versus minis
Micro contracts are one tenth the size of the related mini or standard contract. One MES tick is worth $1.25 against $12.50 for ES, and one MCL tick is worth $1.00 against $10.00 for CL. The chart is the same; only the dollar value per tick changes. Micros let you trade smaller, scale in and out in finer steps, and keep risk inside a small account or a tight drawdown limit. Ten micros carry the same exposure as one mini, but commissions are charged per contract, so ten micros usually cost more to trade than one mini. Our futures trading guide for beginners explains how contracts, margin and expiry work.
Worked example: long 2 MES
You buy 2 MES at 5000.00 and sell at 5012.50. The move is 12.50 points. With a 0.25 tick size, that is 12.50 ÷ 0.25 = 50 ticks. Each tick is worth $1.25 per contract, so the profit is 50 × $1.25 × 2 = $125 before commissions and fees. The same trade with 2 ES contracts would make 50 × $12.50 × 2 = $1,250.
Sizing to a prop firm drawdown limit
Futures prop firm accounts usually come with a maximum drawdown in dollars. Converting your stop into dollars per contract shows how many contracts that limit can really support. Suppose your account has a $2,000 drawdown limit and you plan a 40-tick stop on the Nasdaq-100:
- On NQ, 40 ticks × $5.00 = $200 per contract, or 10% of the limit on a single contract.
- On MNQ, 40 ticks × $0.50 = $20 per contract, so you could trade 10 MNQ for the same $200 of risk, or fewer to risk less.
- Three NQ losses in a row at that stop would cost $600, which is 30% of the limit.
Knowing the dollar risk before you enter makes it far easier to stay inside the rules. How the limit is measured matters too: a trailing drawdown moves up as your account makes new highs, while a static one stays fixed. See trailing vs static drawdown for the difference, and compare account rules in our guide to the best futures prop firms. The drawdown calculator shows how a run of losses adds up.
Choosing a stop distance
A stop measured in ticks should reflect how much the contract normally moves. Volatility differs between markets and changes over time, so the same number of ticks can be tight on one contract and wide on another. Many traders use the average true range (ATR) to set a stop that fits current conditions, then choose the number of contracts so the dollar risk stays within their plan.
What the calculator does not include
Results are gross. Commissions, exchange and clearing fees, platform fees and slippage are not included, and they add up quickly for active traders, especially on micros, where fees can be a large share of a small tick value. The calculator also does not cover margin requirements, contract expiry or rollover.
Trading risk
Futures are leveraged, and losses can exceed the money in your account. The calculations here are for education and are not financial advice. Please read our risk disclaimer.