Futures Ticks, Points, and Dollar Values
By Ethan Warmuskerken · 7 min read
Understand futures ticks, points, tick values, and dollar risk calculations so you can size positions correctly before placing funded account trades.
Futures markets move in ticks and points. Understanding this helps you calculate risk, contract size, and stop-loss placement.
Definitions
- Tick: The smallest allowable price increment for a given futures contract.
- Point: A full unit of movement composed of several ticks.
Examples
- ES: Tick = 0.25, Tick Value = $12.50, 1 point = $50
- NQ: Tick = 0.25, Tick Value = $5, 1 point = $20
- MNQ: Tick = 0.25, Tick Value = $0.50, 1 point = $2
Tick Size & Dollar Value Table
| Market | Symbol | Tick Size | Tick Value | $ Per Point |
|---|---|---|---|---|
| S&P 500 | ES | 0.25 | $12.50 | $50 |
| Micro S&P | MES | 0.25 | $1.25 | $5 |
| NASDAQ | NQ | 0.25 | $5 | $20 |
| Micro NASDAQ | MNQ | 0.25 | $0.50 | $2 |
| Dow | YM | 1.0 | $5 | $5 |
| Micro Dow | MYM | 1.0 | $0.50 | $0.50 |
| Russell 2000 | RTY | 0.10 | $5.00 | $50 |
| Gold | GC | 0.10 | $10.00 | $100 |
| Micro Gold | MGC | 0.10 | $1.00 | $10 |
| Crude Oil | CL | 0.01 | $10.00 | $1000 |
| Micro Crude | MCL | 0.01 | $1.00 | $100 |
Key takeaways
- Tick size is the smallest quoted increment.
- Point value converts price movement into dollars.
- Different contracts have different dollar risk.
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