CL Tick Value Calculator – Crude Oil
WTI Crude Oil futures (CL) on NYMEX: 1,000 barrels per contract, one tick = $0.01 per barrel = $10.00. Pre-set for CL: work out profit and loss in ticks and dollars, or how many contracts fit your risk.
1 tick = 0.01 = $10.00. 1 point = $1,000.
Optional. Per contract, round turn, with exchange fees.
Contract specs: CL, 1,000 barrels
- Exchange
- NYMEX (CME Group), settled in USD
- Contract unit
- 1,000 barrels
- Tick size
- 0.01
- Tick value
- $10.00 per contract
- Point value
- $1,000 per 1.0 move (100 ticks)
- Micro
- 10 MCL = 1 CL
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
+$4,000.00
Example prices. Enter your own entry and exit.
Points
+2.00
in your favour
Ticks
+200
0.01 per tick
Per contract
+$2,000.00
before commission
Notional value
$140,000.00
at entry, 2 CL
Tick value
$20.00
2 × $10.00
Point value
$2,000
per 1.0 move, 2 CL
Show the math
- Points
72.00 − 70.00 = 2.00 - Ticks = points ÷ tick size
2.00 ÷ 0.01 = 200 - Point value = tick value ÷ tick size
$10.00 ÷ 0.01 = $1,000 - P&L = ticks × tick value × contracts
200 × $10.00 × 2 = +$4,000.00 - Notional value = entry × point value × contracts
70.00 × $1,000 × 2 = $140,000.00
Quick answer
One CL tick is $0.01 per barrel and is worth $10.00 per contract; a $1.00 move (one full point, 100 ticks) is $1,000. 10 MCL = 1 CL, so one MCL tick is worth $1.00.
CL tick value table
| Ticks | Price move | 1 contract | 2 contracts | 5 contracts | 10 contracts |
|---|---|---|---|---|---|
| 1 | $0.01 | ±$10.00 | ±$20.00 | ±$50.00 | ±$100.00 |
| 4 | $0.04 | ±$40.00 | ±$80.00 | ±$200.00 | ±$400.00 |
| 10 | $0.10 | ±$100.00 | ±$200.00 | ±$500.00 | ±$1,000 |
| 20 | $0.20 | ±$200.00 | ±$400.00 | ±$1,000 | ±$2,000 |
| 50 | $0.50 | ±$500.00 | ±$1,000 | ±$2,500 | ±$5,000 |
| 100 | $1.00 | ±$1,000 | ±$2,000 | ±$5,000 | ±$10,000 |
CL price move table
| Price move | Ticks | 1 contract | 2 contracts | 5 contracts | 10 contracts |
|---|---|---|---|---|---|
| $0.10 | 10 | ±$100.00 | ±$200.00 | ±$500.00 | ±$1,000 |
| $0.25 | 25 | ±$250.00 | ±$500.00 | ±$1,250 | ±$2,500 |
| $0.50 | 50 | ±$500.00 | ±$1,000 | ±$2,500 | ±$5,000 |
| $1.00 | 100 | ±$1,000 | ±$2,000 | ±$5,000 | ±$10,000 |
| $2.00 | 200 | ±$2,000 | ±$4,000 | ±$10,000 | ±$20,000 |
CL vs MCL
10 MCL = 1 CL. Both contracts track the same market at the same price; only the size, and so the dollar value of each tick, differs.
| CL | MCL | |
|---|---|---|
| Contract | WTI Crude Oil | Micro WTI Crude Oil |
| Contract unit | 1,000 barrels | 100 barrels |
| Tick size | $0.01 per barrel | $0.01 per barrel |
| Tick value | $10.00 | $1.00 |
| Value of a $1.00 move | $1,000 | $100.00 |
| $0.50 move, 1 contract | $500.00 | $50.00 |
| Notional at 70.00 (example) | $70,000 | $7,000 |
| Same exposure | 1 CL | 10 MCL |
CL contract specification
| Specification | Value |
|---|---|
| Contract | WTI Crude Oil |
| Symbol | CL |
| Exchange | NYMEX (CME Group), settled in US dollars |
| Contract unit | 1,000 barrels |
| Tick size | $0.01 per barrel |
| Tick value | $10.00 per contract |
| Value of a $1.00 move | $1,000 per contract (100 ticks) |
| Micro contract | 10 MCL = 1 CL |
| Contract months | Every calendar month is listed; most volume is in the nearest month. |
| Trading hours | CME Globex, Sunday 6:00 p.m. to Friday 5:00 p.m. New York time, with a daily break from 5:00 to 6:00 p.m. Holiday hours are shorter. |
| Example price | 70.00 (an example, not a live quote) |
| Notional value at the example price | $70,000 |
| Margin | Set by CME Group and your broker; check the current figure with your broker |
Contract value, hours and margin
Notional value = price × point value. At an example price of 70.00, which is not a live quote, one CL (1,000 barrels) has a notional value of 70.00 × $1,000 = $70,000. Multiply your own price by $1,000 for the current value.
CL trades on CME Globex from Sunday 6:00 p.m. to Friday 5:00 p.m. New York time, with a daily break from 5:00 to 6:00 p.m. Holiday hours are shorter. Volume is highest in the New York morning. The weekly EIA crude oil inventory report, Wednesdays at 10:30 a.m. New York time, often moves the price.
Margin is not a fixed number. CME Group sets the initial and maintenance margin for CL and changes it when volatility changes; brokers and prop firms can require more, and many offer a lower day-trading margin. Check the current requirement with your broker before you size a trade.
Trading WTI Crude Oil (USOIL) as a CFD instead of futures? CFD contract sizes are set by each broker; use the USOIL pip calculator or the USOIL lot size calculator.
Frequently asked questions
How much is one CL tick worth?
One CL tick is a move of $0.01 per barrel and is worth $10.00 per contract. A full $1.00 move (100 ticks) is worth $1,000 per contract. On 5 contracts a tick is $50.00.
How many ticks are in a point on CL?
100. CL moves in steps of $0.01 per barrel, so a $1.00 move is $1.00 ÷ $0.01 = 100 ticks, worth 100 × $10.00 = $1,000 per contract.
What is the difference between CL and MCL?
Both track the same market at the same price. 10 MCL = 1 CL: CL is 1,000 barrels and is worth $10.00 per tick, while MCL is 100 barrels and is worth $1.00 per tick. A $0.50 move is $500.00 on one CL and $50.00 on one MCL. The micro lets you size in tenths of the full contract.
How do I calculate CL profit and loss?
Divide the price move by the tick size to get ticks, then multiply by the tick value and the number of contracts: P&L = ticks × $10.00 × contracts. Long 2 CL from 70.00 to 70.50: $0.50 = 50 ticks, and 50 × $10.00 × 2 = $1,000. Subtract your round-turn commission per contract for the net result.
How much margin do I need to trade CL?
There is no fixed figure. CME Group sets the initial and maintenance margin for CL and changes it as volatility changes, and your broker or prop firm can ask for more or offer a lower day-trading margin. Check the current requirement with your broker. For scale, at an example price of 70.00 one CL controls $70,000.
Is the CL tick value the same at every broker?
Yes. The tick size and tick value are set by the exchange, so one CL tick is $10.00 at every futures broker and prop firm. Commissions, exchange fees and margin differ.
Risk warning: Futures are leveraged: a small price move can cost more than the margin you posted. The tools and information on this page are for education and are not financial advice.
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