Futures Tick Value Calculator: ES, NQ, MES and MNQ

By Lewis Talbot
Published 25 September 2026

Tick and point values for US index futures

Every futures contract has a fixed dollar value per point and per tick. These are the eight US index contracts, as CME Group specifies them.

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CONTRACT	TICK SIZE (POINTS)	TICK VALUE	POINT VALUE
ES · E-mini S&P 500	0.25	$12.50	$50
MES · Micro E-mini S&P 500	0.25	$1.25	$5
NQ · E-mini Nasdaq-100	0.25	$5.00	$20
MNQ · Micro E-mini Nasdaq-100	0.25	$0.50	$2
YM · E-mini Dow	1	$5.00	$5
MYM · Micro E-mini Dow	1	$0.50	$0.50
RTY · E-mini Russell 2000	0.1	$5.00	$50
M2K · Micro E-mini Russell 2000	0.1	$0.50	$5

Values per contract. The Dow contracts trade on CBOT, the rest on CME; both are CME Group exchanges with the same hours.

Ticks and points, explained

A point is one whole unit of the index price: the S&P 500 going from 7,600 to 7,601. A tick is the smallest step the futures price can take. On ES and NQ that is a quarter of a point, so the price goes 7,600.00, 7,600.25, 7,600.50 and so on, and four ticks make a point. YM moves a whole point at a time; RTY moves a tenth.

One point on ES, from 7,600.00 to 7,601.00, is four ticks of $12.50. The same distance on MES is four ticks of $1.25, $5 in all.

Working out what a move is worth

Multiply the move in points by the point value, then by the number of contracts. Three examples:

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TRADE	SUM	WORTH
10.5 points on 1 ES	10.5 × $50	$525.00
42 points on 2 NQ	42 × $20 × 2	$1,680.00
42 points on 2 MNQ	42 × $2 × 2	$168.00

The other way round, divide the amount by the tick value to find how many ticks it takes, then round up to a whole tick. To make $500 on one NQ you need 100 ticks, or 25 points. How realistic a move of that size is depends on the day: our guide to how many points ES and NQ move in a day puts numbers on a typical session.

E-mini or Micro

Each Micro is worth exactly a tenth of its E-mini: MES is $5 a point to ES's $50, MNQ $2 to NQ's $20. Prices, ticks and hours are identical, so a chart of one is a chart of the other. The Micros exist for sizing: they let a trader risk a tenth as much per point, which is what the position size calculator is for.

Common questions

How much is one point on ES worth?

$50 per contract. A tick, a quarter of a point, is $12.50. On the Micro, MES, a point is $5 and a tick $1.25.

How much is one point on NQ worth?

$20 per contract, with ticks of 0.25 points worth $5.00. On the Micro, MNQ, a point is $2 and a tick 50 cents.

How many ticks are in a point on ES?

Four. ES, NQ, MES and MNQ all move in ticks of 0.25 points. YM and MYM move a whole point per tick, and RTY and M2K a tenth of a point.

What is a tick in futures?

The smallest price step a futures contract can take, set by the exchange. Each contract has a fixed dollar value per tick, which is what turns a price move into a profit or a loss.

How much is a tick on YM and RTY?

$5.00 on both. YM, the E-mini Dow, is $5 a point with one-point ticks; RTY, the E-mini Russell 2000, is $50 a point with ticks of 0.1 points. Their Micros, MYM and M2K, are 50 cents a tick.

How many points does NQ have to move to make $500?

25 points, or 100 ticks, on one NQ contract, before costs. On one MNQ it takes 250 points.

SEE IT ON A LIVE MARKET DAY

Knowing what a point is worth is half of it. The other half is how many points the day is likely to offer: MarketDirection's Volatility Scale gives ES and NQ's expected move every morning before the open. 7-day free trial, no card required.

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Contract specifications from CME Group. Values are per contract, before commissions and fees.

Futures tick and point value calculator

The week ahead for ES and NQ traders