Tick size is the minimum price increment for the specified contract and trading mechanism. Tick value is that increment multiplied by the contract multiplier. For outright ES, 0.25 points × $50 per point = $12.50 per tick per contract.
Educational software guidance. Trading involves risk. Read the financial and information disclaimers.
Common equity futures
| Product | Root | Exchange | Outright tick | Dollars / tick | Dollars / point |
|---|---|---|---|---|---|
| E-mini S&P 500 | ES | CME | 0.25 | 12.50 | 50 |
| Micro S&P 500 | MES | CME | 0.25 | 1.25 | 5 |
| E-mini Nasdaq-100 | NQ | CME | 0.25 | 5.00 | 20 |
| Micro Nasdaq-100 | MNQ | CME | 0.25 | 0.50 | 2 |
| E-mini Dow | YM | CBOT | 1.00 | 5.00 | 5 |
| Micro Dow | MYM | CBOT | 1.00 | 0.50 | 0.50 |
| E-mini Russell 2000 | RTY | CME | 0.10 | 5.00 | 50 |
| Micro Russell 2000 | M2K | CME | 0.10 | 0.50 | 5 |
Source: CME Micro E-mini specifications and size relationship. These are outright futures, not options, spreads or an exhaustive product catalogue.
Calculate a price distance in dollars
- Divide the price distance by the tick size.
- Multiply by the dollar value of one tick.
- Multiply by the number of contracts.
- Account separately for commissions, fees and any difference between intended and actual execution prices.
Illustration: a 10-point ES distance is 40 ticks. For two contracts, 40 × $12.50 × 2 = $1,000 before costs. The same 10-point distance for two MES contracts is $100. These are arithmetic examples, not recommended stop distances or maximum-loss guarantees.
Match the units before entering a value
| Field asks for | Ten-point ES distance would mean |
|---|---|
| Ticks | 40 |
| Points | 10 |
| Absolute stop price | An actual price derived from entry/side; neither 40 nor 10 |
| Dollars | Depends on quantity and the field's per-contract or total definition |
The inspected desktop bracket dialog labels tick distances. A webhook generator can use different units or sizing modes. Read its calculation details rather than copying a number between unlike fields.
Verify a contract outside the table
Open the exact exchange contract specification and locate its outright minimum price fluctuation and contract unit. Treasury fractional quotes, FX units, options and spread trades need their own calculation. Do not generalize the micro-to-mini relationship to every product called micro.
Screenshot references
Common questions
What is one NQ point worth?
$20 for one NQ contract; $2 for one MNQ contract.
Does a 40-tick stop guarantee that loss?
No. A trigger can lead to a different fill, and costs are additional.
Why do spread ticks differ?
The exchange can define a different minimum increment for a spread or execution mechanism. Use the relevant row.
Does quantity change tick size?
No. Quantity changes the total dollars gained or lost per price move.