# Futures tick values

> 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.

**Source:** https://propfirmpal.com/learn/futures-tick-values  
**Generated:** 2026-09-19  
**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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_Facts checked 2026-09-15._

## 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.

## Frequently asked questions

### 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 pages

- [Micro vs mini futures](https://propfirmpal.com/learn/micro-vs-mini-futures)
- [Futures contract month codes](https://propfirmpal.com/learn/futures-contract-month-codes)
- [Tick value in the glossary](https://propfirmpal.com/glossary/tick-value)
- [Trailing drawdown explained](https://propfirmpal.com/glossary/trailing-drawdown)
- [Futures trading hours](https://propfirmpal.com/learn/futures-trading-hours) — markdown: https://propfirmpal.com/learn/futures-trading-hours.md
- [Futures contract month codes](https://propfirmpal.com/learn/futures-contract-month-codes) — markdown: https://propfirmpal.com/learn/futures-contract-month-codes.md
- [Micro vs mini futures](https://propfirmpal.com/learn/micro-vs-mini-futures) — markdown: https://propfirmpal.com/learn/micro-vs-mini-futures.md