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Futures Calculator

Work out the profit or loss on a futures trade in points, ticks and dollars, look up the tick and point value of CME contracts, and find how many contracts your stop and risk allow.

Calculate

1 tick = 0.25 = $0.50. 1 point = $2.00.

Direction
MNQ
USD

Optional. Per contract, round turn, with exchange fees.

Contract specs: MNQ, $2 × Nasdaq-100 index
Exchange
CME (CME Group), settled in USD
Contract unit
$2 × Nasdaq-100 index
Tick size
0.25
Tick value
$0.50 per contract
Point value
$2.00 per 1.0 move (4 ticks)
Full size
10 MNQ = 1 NQ

Outright minimum tick from CME Group's contract specifications, checked October 2026. Spread trades use smaller ticks. Your broker or prop firm adds its own commission and fees.

Profit

+$200.00

Example prices. Enter your own entry and exit.

Points

+50.00

in your favour

Ticks

+200

0.25 per tick

Per contract

+$100.00

before commission

Notional value

$72,000.00

at entry, 2 MNQ

Tick value

$1.00

2 × $0.50

Point value

$4.00

per 1.0 move, 2 MNQ

Show the math
  1. Points18,050.00 − 18,000.00 = 50.00
  2. Ticks = points ÷ tick size50.00 ÷ 0.25 = 200
  3. Point value = tick value ÷ tick size$0.50 ÷ 0.25 = $2.00
  4. P&L = ticks × tick value × contracts200 × $0.50 × 2 = +$200.00
  5. Notional value = entry × point value × contracts18,000.00 × $2.00 × 2 = $72,000.00
Embed this calculator

Quick answer

Futures P&L = price move ÷ tick size × tick value × contracts. Buying 2 MNQ at 18,000 and selling at 18,050 is 50 points, or 200 ticks of $0.50, so the profit is 200 × $0.50 × 2 = $200; the same trade on 2 NQ ($5 per tick) makes $2,000.

Tick value by contract

Outright tick size and value per contract, from CME Group's contract specifications. Point value is a 1.0 move in the price ($1.00 on energy and metals). Each contract links to its own page with P&L tables.
ContractTick sizeTick valuePoint valueMicro or full size
Equity index
ES tick valueE-mini S&P 5000.25 index points$12.50$50.0010 MES = 1 ES
MES tick valueMicro E-mini S&P 5000.25 index points$1.25$5.0010 MES = 1 ES
NQ tick valueE-mini Nasdaq-1000.25 index points$5.00$20.0010 MNQ = 1 NQ
MNQ tick valueMicro E-mini Nasdaq-1000.25 index points$0.50$2.0010 MNQ = 1 NQ
YM tick valueE-mini Dow ($5)1 index point$5.00$5.0010 MYM = 1 YM
MYM tick valueMicro E-mini Dow1 index point$0.50$0.5010 MYM = 1 YM
RTY tick valueE-mini Russell 20000.1 index points$5.00$50.0010 M2K = 1 RTY
M2K tick valueMicro E-mini Russell 20000.1 index points$0.50$5.0010 M2K = 1 RTY
Energy
CL tick valueWTI Crude Oil$0.01 per barrel$10.00$1,00010 MCL = 1 CL
MCL tick valueMicro WTI Crude Oil$0.01 per barrel$1.00$100.0010 MCL = 1 CL
NG tick valueHenry Hub Natural Gas$0.001 per MMBtu$10.00$10,000—
Metals
GC tick valueGold$0.10 per troy ounce$10.00$100.0010 MGC = 1 GC
MGC tick valueMicro Gold$0.10 per troy ounce$1.00$10.0010 MGC = 1 GC
SI tick valueSilver$0.005 per troy ounce$25.00$5,0005 SIL = 1 SI
SIL tick valueMicro Silver (1,000 oz)$0.005 per troy ounce$5.00$1,0005 SIL = 1 SI

What is the Futures Calculator?

Every futures contract moves in fixed steps called ticks, and the exchange sets what one tick is worth. The E-mini S&P 500 (ES) moves in 0.25-point ticks worth $12.50; the Micro E-mini Nasdaq-100 (MNQ) moves in the same 0.25 steps but each is worth $0.50. Once you know the tick size and tick value, profit, loss and position size follow directly.

Ticks = Price move ÷ Tick size
P&L = Ticks × Tick value × Contracts
Point value = Tick value ÷ Tick size
Contracts = Risk ÷ (Stop in ticks × Tick value), rounded down

A point is a move of 1.0 in the price. On the index futures four ticks make a point, so a point is worth $50 on ES, $20 on NQ, $5 on MES and $2 on MNQ. On crude oil (CL) a tick is one cent, so a $1.00 move is 100 ticks or $1,000 per contract. Traders of indices tend to talk in points; traders of oil, metals, bonds and currencies usually count ticks.

Micro and E-mini contracts

Most popular contracts have a micro version on the same underlying with the same price and a tenth of the size: MES for ES, MNQ for NQ, MYM for YM, M2K for RTY, MCL for CL, MGC for GC and M6E for 6E. Micro Silver (SIL, 1,000 oz) is a fifth of SI, and Micro Bitcoin (MBT, 0.1 BTC) is a fiftieth of the 5-bitcoin BTC contract. Micros let you size in steps of a tenth: if one NQ is too much risk for your stop, a few MNQ may fit.

The contract list uses the outright minimum tick from CME Group's contract specifications. All of these contracts settle in US dollars, including the currency futures, so results are shown in USD. For any other contract, choose Custom and enter its tick size and tick value.

How to use this calculator

  1. Calculate — Profit and loss for a trade you have taken or are planning, or Position size to find how many contracts your risk allows.
  2. Contract — the tick size, tick value and point value appear under the field. Contract specs shows the exchange, contract unit and the micro or E-mini equivalent.
  3. Profit and loss: choose the direction and enter the entry and exit prices, the number of contracts and, optionally, your commission per contract round turn (open and close, with exchange fees).
  4. Position size: enter the stop as ticks, points or a stop price, then your account balance and the risk per trade as a percentage or a fixed dollar amount.

Treasury futures are quoted in points and 32nds; you can type 118'16 or 118.5. Show the math lists every step with your numbers, and Copy link with these numbers saves the inputs.

Worked example

MNQ long. Buy 2 MNQ at 18,000 and sell at 18,050. The move is 50 points, or 200 ticks of 0.25.

50 points × $2 × 2 contracts = $200
200 ticks × $0.50 × 2 contracts = $200

With a $1.00 round-turn commission per contract the net profit is $200 − $2 = $198. The same trade with 2 NQ makes $2,000, ten times as much.

ES short. Sell 3 ES at 6,000 and buy back at 5,990: 10 points = 40 ticks × $12.50 = $500 per contract, $1,500 on three.

Crude oil stop-out. Buy 1 CL at 70.00, stopped at 69.50: 50 ticks × $10 = −$500. On MCL the same move costs $50.

Sizing NQ on a small risk budget. You allow $200 on a 20-point stop. One NQ risks 20 × $20 = $400, so the answer is 0 NQ. One MNQ risks 20 × $2 = $40, and $200 ÷ $40 = 5 MNQ.

Sizing ES at 1%. On a $50,000 account, 1% is $500. An 8-point stop is 32 ticks × $12.50 = $400 per ES, so $500 ÷ $400 = 1.25, rounded down to 1 ES risking $400. In micros it is $500 ÷ $40 = 12.5, so 12 MES risking $480, closer to the budget.

10-Year T-Note. ZN ticks are half of 1/32, worth $15.625. A long from 110'16 to 110'24 gains 8/32 = 0.25 points = 16 ticks = $250.

When to use it

  • Before entering — to see what your stop costs per contract and how many contracts fit your risk.
  • On a prop-firm account — Topstep, Apex and similar evaluations end at a dollar drawdown, so the stop's dollar cost matters more than its distance in points.
  • Choosing between E-mini and micro — when one E-mini is too large, the micro equivalent shows how many smaller contracts carry the same risk.
  • After the trade — to check a fill's profit or loss in ticks and dollars, net of commission.
  • On an unfamiliar contract — to look up what a tick and a point are worth before you trade it.

Common mistakes

  • Mixing up points and ticks. A 10-point stop on ES is 40 ticks and $500 per contract, not $125.
  • Using the E-mini value for a micro. MNQ is $2 a point, NQ is $20. Charts look identical; the money does not.
  • Rounding contracts up. 1.25 contracts means 1, not 2; rounding up doubles the risk you planned.
  • Forgetting round-turn costs. Commission and exchange fees are charged on entry and exit. On micros they are a large share of a small scalp.
  • Reading Treasury prices as decimals. 110'16 means 110 and 16/32, which is 110.5, not 110.16.
  • Ignoring the contract limit. Prop firms cap contracts per account size; a size that fits your risk can still break that rule.

Frequently asked questions

How do you calculate futures profit?

Divide the price move by the tick size to get ticks, then multiply by the tick value and the number of contracts. Buying 2 MNQ at 18,000 and selling at 18,050 is 50 points, or 200 ticks of 0.25; 200 × $0.50 × 2 = $200. Subtract round-turn commission per contract for the net result.

What is the NQ point value?

One NQ (E-mini Nasdaq-100) contract is worth $20 per index point, and its 0.25-point tick is worth $5. The micro, MNQ, is $2 per point and $0.50 per tick, so ten MNQ equal one NQ.

How much is one tick on ES and MES?

ES moves in 0.25-point ticks worth $12.50, which makes a point $50. MES has the same tick size at $1.25 per tick, or $5 per point.

What is the difference between a tick and a point?

A tick is the smallest price step the exchange allows; a point is a move of 1.0 in the price. On ES, NQ and their micros a point is 4 ticks. On crude oil a tick is $0.01, so a point ($1.00) is 100 ticks; on gold a tick is $0.10, so a point is 10 ticks.

How many futures contracts should I trade?

Divide the money you are willing to lose on the trade by the cost of your stop on one contract, and round down. Risking $500 with an 8-point ES stop ($400 per contract) gives 1 ES; the same stop on MES costs $40, so the risk fits 12 MES.

How do prop-firm futures traders size positions?

Most work from the dollar drawdown rather than a percentage: they set a fixed loss per trade, often a small fraction of the drawdown left, and size the stop in micros or minis to match. Firms also cap the number of contracts by account size, and they count micros against that cap in different ways, so check your firm's rule.

Are the tick values the same at every broker?

Yes. Tick size and tick value are set by the exchange, so ES is $12.50 a tick at every futures broker and prop firm. What differs is the commission and fees, which you can enter in the calculator.

Why are Treasury futures prices written like 110'16?

Treasury futures are quoted in points and 32nds of a point, so 110'16 is 110 + 16/32 = 110.5. A point is worth $1,000 on ZB and ZN. ZB moves in 1/32 ticks ($31.25) and ZN in half-32nds ($15.625), written with a third digit: 110'165 is 110 and 16.5/32.

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