ES Tick Value Calculator – E-mini S&P 500
E-mini S&P 500 futures (ES) on CME: $50 × S&P 500 index per contract, one tick = 0.25 index points = $12.50. Pre-set for ES: work out profit and loss in ticks and dollars, or how many contracts fit your risk.
1 tick = 0.25 = $12.50. 1 point = $50.00.
Optional. Per contract, round turn, with exchange fees.
Contract specs: ES, $50 × S&P 500 index
- Exchange
- CME (CME Group), settled in USD
- Contract unit
- $50 × S&P 500 index
- Tick size
- 0.25
- Tick value
- $12.50 per contract
- Point value
- $50.00 per 1.0 move (4 ticks)
- Micro
- 10 MES = 1 ES
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
+$5,000.00
Example prices. Enter your own entry and exit.
Points
+50.00
in your favour
Ticks
+200
0.25 per tick
Per contract
+$2,500.00
before commission
Notional value
$600,000.00
at entry, 2 ES
Tick value
$25.00
2 × $12.50
Point value
$100.00
per 1.0 move, 2 ES
Show the math
- Points
6,050.00 − 6,000.00 = 50.00 - Ticks = points ÷ tick size
50.00 ÷ 0.25 = 200 - Point value = tick value ÷ tick size
$12.50 ÷ 0.25 = $50.00 - P&L = ticks × tick value × contracts
200 × $12.50 × 2 = +$5,000.00 - Notional value = entry × point value × contracts
6,000.00 × $50.00 × 2 = $600,000.00
Quick answer
One ES tick is 0.25 index points and is worth $12.50 per contract; one full point (4 ticks) is $50.00. 10 MES = 1 ES, so one MES tick is worth $1.25.
ES tick value table
| Ticks | Points | 1 contract | 2 contracts | 5 contracts | 10 contracts |
|---|---|---|---|---|---|
| 1 | 0.25 | ±$12.50 | ±$25.00 | ±$62.50 | ±$125.00 |
| 4 | 1 | ±$50.00 | ±$100.00 | ±$250.00 | ±$500.00 |
| 10 | 2.5 | ±$125.00 | ±$250.00 | ±$625.00 | ±$1,250 |
| 20 | 5 | ±$250.00 | ±$500.00 | ±$1,250 | ±$2,500 |
| 50 | 12.5 | ±$625.00 | ±$1,250 | ±$3,125 | ±$6,250 |
| 100 | 25 | ±$1,250 | ±$2,500 | ±$6,250 | ±$12,500 |
ES point value table
| Points | Ticks | 1 contract | 2 contracts | 5 contracts | 10 contracts |
|---|---|---|---|---|---|
| 1 | 4 | ±$50.00 | ±$100.00 | ±$250.00 | ±$500.00 |
| 5 | 20 | ±$250.00 | ±$500.00 | ±$1,250 | ±$2,500 |
| 10 | 40 | ±$500.00 | ±$1,000 | ±$2,500 | ±$5,000 |
| 25 | 100 | ±$1,250 | ±$2,500 | ±$6,250 | ±$12,500 |
| 50 | 200 | ±$2,500 | ±$5,000 | ±$12,500 | ±$25,000 |
ES vs MES
10 MES = 1 ES. Both contracts track the same market at the same price; only the size, and so the dollar value of each tick, differs.
| ES | MES | |
|---|---|---|
| Contract | E-mini S&P 500 | Micro E-mini S&P 500 |
| Contract unit | $50 × S&P 500 index | $5 × S&P 500 index |
| Tick size | 0.25 index points | 0.25 index points |
| Tick value | $12.50 | $1.25 |
| Point value | $50.00 | $5.00 |
| 10-point move, 1 contract | $500.00 | $50.00 |
| Notional at 6,000 (example) | $300,000 | $30,000 |
| Same exposure | 1 ES | 10 MES |
ES contract specification
| Specification | Value |
|---|---|
| Contract | E-mini S&P 500 |
| Symbol | ES |
| Exchange | CME (CME Group), settled in US dollars |
| Contract unit | $50 × S&P 500 index |
| Tick size | 0.25 index points |
| Tick value | $12.50 per contract |
| Point value | $50.00 per contract (4 ticks) |
| Micro contract | 10 MES = 1 ES |
| Contract months | Quarterly: March, June, September and December (month codes H, M, U and Z). |
| 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 | 6,000 (an example, not a live quote) |
| Notional value at the example price | $300,000 |
| 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 6,000, which is not a live quote, one ES ($50 × S&P 500 index) has a notional value of 6,000 × $50.00 = $300,000. Multiply your own price by $50.00 for the current value.
ES 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 during the US stock market session, 9:30 a.m. to 4:00 p.m. New York time, and spikes at the 9:30 open.
Margin is not a fixed number. CME Group sets the initial and maintenance margin for ES 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 S&P 500 (SPX500) as a CFD instead of futures? CFD contract sizes are set by each broker; use the SPX500 pip calculator or the SPX500 lot size calculator.
Frequently asked questions
How much is one ES tick worth?
One ES tick is a move of 0.25 index points and is worth $12.50 per contract. A full point (4 ticks) is worth $50.00 per contract. On 5 contracts a tick is $62.50.
How many ticks are in a point on ES?
4. ES moves in steps of 0.25 index points, so one index point is 1 ÷ 0.25 = 4 ticks, worth 4 × $12.50 = $50.00 per contract.
What is the difference between ES and MES?
Both track the same market at the same price. 10 MES = 1 ES: ES is $50 × S&P 500 index and is worth $12.50 per tick, while MES is $5 × S&P 500 index and is worth $1.25 per tick. A 10-point move is $500.00 on one ES and $50.00 on one MES. The micro lets you size in tenths of the full contract.
How do I calculate ES 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 × $12.50 × contracts. Long 2 ES from 6,000 to 6,010: 10 index points = 40 ticks, and 40 × $12.50 × 2 = $1,000. Subtract your round-turn commission per contract for the net result.
How much margin do I need to trade ES?
There is no fixed figure. CME Group sets the initial and maintenance margin for ES 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 6,000 one ES controls $300,000.
Is the ES tick value the same at every broker?
Yes. The tick size and tick value are set by the exchange, so one ES tick is $12.50 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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