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Futures tick values
Tick size and tick value for ES, MES, NQ, MNQ, YM, RTY, crude oil and gold futures, with how to turn ticks into profit, loss and prop firm drawdown.
What is a futures tick value?
A tick is the smallest price move a futures contract can make, and its tick value is what that move is worth per contract. NQ ticks in 0.25 index points worth $5.00, MNQ in 0.25 points worth $0.50, ES in 0.25 points worth $12.50 and MES in 0.25 points worth $1.25.
Tick size and tick value by contract
Tick value is the tick size multiplied by the contract multiplier. The value per point is what a one-point move in the index, or a one-dollar move in oil or gold, is worth on a single contract.
Contract
Symbol
Size
Tick size
Tick value
Value per point
E-mini S&P 500
ES
$50 × index
0.25
$12.50
$50
Micro E-mini S&P 500
MES
$5 × index
0.25
$1.25
$5
E-mini Nasdaq-100
NQ
$20 × index
0.25
$5.00
$20
Micro E-mini Nasdaq-100
MNQ
$2 × index
0.25
$0.50
$2
E-mini Dow
YM
$5 × index
1.00
$5.00
$5
Micro E-mini Dow
MYM
$0.50 × index
1.00
$0.50
$0.50
E-mini Russell 2000
RTY
$50 × index
0.10
$5.00
$50
Micro E-mini Russell 2000
M2K
$5 × index
0.10
$0.50
$5
Crude oil
CL
1,000 barrels
$0.01
$10.00
$1,000 per $1
Micro crude oil
MCL
100 barrels
$0.01
$1.00
$100 per $1
Gold
GC
100 troy ounces
$0.10
$10.00
$100 per $1
Micro gold
MGC
10 troy ounces
$0.10
$1.00
$10 per $1
Source: CME Group contract specifications. Tick value = tick size × contract multiplier.
Turning ticks into profit and loss
Profit or loss is ticks moved × tick value × number of contracts. A 20-point move in the Nasdaq-100 is 80 ticks: $400 on one NQ contract and $40 on one MNQ contract. A 10-point move in the S&P 500 is 40 ticks: $500 on one ES contract and $50 on one MES contract.
Tick value and prop firm drawdown
Dividing a drawdown limit by the value per point shows how far the market can move against one contract before the limit is hit. A $2,000 limit allows 40 points on ES, 100 points on NQ, 400 points on MES and 1,000 points on MNQ. Trailing drawdowns shrink that room as profit is given back, so the same arithmetic applies to the current distance from the limit, not the starting one.
FAQs — Futures tick values
Facts checked 2026-09-15 against CME Group contract specifications.
What is the tick value of MNQ?
One MNQ tick is 0.25 index points and is worth $0.50 per contract.
What is the tick value of NQ?
One NQ tick is 0.25 index points and is worth $5.00 per contract.
What is the tick value of ES?
One ES tick is 0.25 index points and is worth $12.50 per contract.
How much is one point on NQ?
One index point on the E-mini Nasdaq-100 (NQ) is worth $20 per contract, and $2 on the micro (MNQ).
Related reference
More futures reference, and where these rules meet prop firm terms.
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