# QM Tick Value & Contract Specs (E-mini Crude Oil)

> One QM tick is $0.025 per barrel, worth $12.50 per contract. A $1.00 move per barrel is worth $500, so a move of $0.50 per barrel is 20 ticks, or $250 on one contract.

**Source:** https://propfirmpal.com/futures/contracts/qm  
**Generated:** 2026-09-25  
**Publisher:** Prop Firm Pal — independent prop firm comparison

_Prop Firm Pal earns affiliate commission from some listed firms. This is disclosed on-site and does not affect the computed ranking order._

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QM (E-mini Crude Oil) ticks in $0.025 per barrel, worth $12.50 per contract. CME specs, P&L per move, hours and months.

## Contract specifications

| Specification | Value |
| --- | --- |
| Contract | E-mini Crude Oil (QM) |
| Exchange | NYMEX (CME Group) |
| Asset class | Energy |
| Contract unit | 500 barrels |
| Price quotation | US dollars and cents per barrel |
| Tick size | $0.025 per barrel |
| Tick value | $12.50 per contract |
| Value of a $1.00 move per barrel | $500 |
| Contract months | F (Jan), G (Feb), H (Mar), J (Apr), K (May), M (Jun), N (Jul), Q (Aug), U (Sep), V (Oct), X (Nov), Z (Dec) |
| Trading hours | Sunday–Friday 5:00 pm – 4:00 pm CT (6:00 pm – 5:00 pm ET), with a daily maintenance break from 4:00 pm to 5:00 pm CT. |
| Settlement | Financially settled |
| Last trading day | 1 business day before the corresponding CL contract’s last trading day. |

_Source: [CME Group — E-mini Crude Oil contract specs](https://www.cmegroup.com/markets/energy/crude-oil/emini-crude-oil.contractSpecs.html), retrieved 2026-09-22._

## Ticks to dollars

| Price move | Ticks | 1 contract | 10 contracts |
| --- | --- | --- | --- |
| $0.025 per barrel | 1 | $12.50 | $125 |
| $1 per barrel | 40 | $500 | $5,000 |
| $0.50 per barrel | 20 | $250 | $2,500 |

## Trading hours

| Central Time (CT) | Eastern Time (ET) | Breaks |
| --- | --- | --- |
| Sun 5:00 pm – Fri 4:00 pm | Sun 6:00 pm – Fri 5:00 pm | 4:00–5:00 pm CT (5:00–6:00 pm ET), Mon–Thu |

## Other sizes

- [CL — Light Sweet Crude Oil (WTI)](https://propfirmpal.com/futures/contracts/cl): $10 per tick.
- [MCL — Micro WTI Crude Oil](https://propfirmpal.com/futures/contracts/mcl): $1 per tick.

## Which prop firms allow this contract

Prop Firm Pal does not yet record firms' permitted products symbol by symbol, so no firms are named here. Compare futures prop firms at https://propfirmpal.com/futures and check each firm's rules for QM.

## Frequently asked questions

### What is the tick value of QM?

One QM tick is $0.025 per barrel, worth $12.50 per contract. A $1.00 move per barrel is worth $500, so a move of $0.50 per barrel is 20 ticks, or $250 on one contract.

### How much is a $1.00 move per barrel worth on QM?

A $1.00 move per barrel is worth $500 per QM contract: 40 ticks of $12.50.

### What are QM trading hours?

QM trades on CME Globex Sunday–Friday 5:00 pm – 4:00 pm CT (6:00 pm – 5:00 pm ET), with a daily maintenance break from 4:00 pm to 5:00 pm CT. In Eastern Time that is Sun 6:00 pm – Fri 5:00 pm. Holidays shorten or close sessions.

### What months does QM trade?

Monthly contracts for the current year and the next 5 calendar years. Month codes: F (Jan), G (Feb), H (Mar), J (Apr), K (May), M (Jun), N (Jul), Q (Aug), U (Sep), V (Oct), X (Nov), Z (Dec).

### Is QM cash-settled?

QM is financially settled. Last trading day: 1 business day before the corresponding CL contract’s last trading day. Most traders roll to the next contract month before then.

### What is the margin for QM?

CME Group sets the exchange margin for QM and changes it often, and brokers set their own day-trading margins on top. A prop firm account does not post margin: the firm’s drawdown limit and contract limit cap the risk instead. For a current exchange figure, check CME Group’s margin page for the contract.

### What is the difference between QM and CL?

CL (Light Sweet Crude Oil (WTI)) tracks the same market at twice the size of QM. One CL tick is worth $10, against $12.50 for QM.

### What is the difference between QM and MCL?

MCL (Micro WTI Crude Oil) tracks the same market at 1/5 the size of QM. One MCL tick is worth $1, against $12.50 for QM.

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