M2K Tick Value Calculator – Micro Russell 2000
Micro E-mini Russell 2000 futures (M2K) on CME: $5 × Russell 2000 index per contract, one tick = 0.1 index points = $0.50. Pre-set for M2K: work out profit and loss in ticks and dollars, or how many contracts fit your risk.
1 tick = 0.1 = $0.50. 1 point = $5.00.
Optional. Per contract, round turn, with exchange fees.
Contract specs: M2K, $5 × Russell 2000 index
- Exchange
- CME (CME Group), settled in USD
- Contract unit
- $5 × Russell 2000 index
- Tick size
- 0.1
- Tick value
- $0.50 per contract
- Point value
- $5.00 per 1.0 move (10 ticks)
- Full size
- 10 M2K = 1 RTY
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
+20.00
in your favour
Ticks
+200
0.1 per tick
Per contract
+$100.00
before commission
Notional value
$22,000.00
at entry, 2 M2K
Tick value
$1.00
2 × $0.50
Point value
$10.00
per 1.0 move, 2 M2K
Show the math
- Points
2,220.0 − 2,200.0 = 20.00 - Ticks = points ÷ tick size
20.00 ÷ 0.1 = 200 - Point value = tick value ÷ tick size
$0.50 ÷ 0.1 = $5.00 - P&L = ticks × tick value × contracts
200 × $0.50 × 2 = +$200.00 - Notional value = entry × point value × contracts
2,200.0 × $5.00 × 2 = $22,000.00
Quick answer
One M2K tick is 0.1 index points and is worth $0.50 per contract; one full point (10 ticks) is $5.00. 10 M2K = 1 RTY, so one RTY tick is worth $5.00.
M2K tick value table
| Ticks | Points | 1 contract | 2 contracts | 5 contracts | 10 contracts |
|---|---|---|---|---|---|
| 1 | 0.1 | ±$0.50 | ±$1.00 | ±$2.50 | ±$5.00 |
| 4 | 0.4 | ±$2.00 | ±$4.00 | ±$10.00 | ±$20.00 |
| 10 | 1 | ±$5.00 | ±$10.00 | ±$25.00 | ±$50.00 |
| 20 | 2 | ±$10.00 | ±$20.00 | ±$50.00 | ±$100.00 |
| 50 | 5 | ±$25.00 | ±$50.00 | ±$125.00 | ±$250.00 |
| 100 | 10 | ±$50.00 | ±$100.00 | ±$250.00 | ±$500.00 |
M2K point value table
| Points | Ticks | 1 contract | 2 contracts | 5 contracts | 10 contracts |
|---|---|---|---|---|---|
| 1 | 10 | ±$5.00 | ±$10.00 | ±$25.00 | ±$50.00 |
| 5 | 50 | ±$25.00 | ±$50.00 | ±$125.00 | ±$250.00 |
| 10 | 100 | ±$50.00 | ±$100.00 | ±$250.00 | ±$500.00 |
| 20 | 200 | ±$100.00 | ±$200.00 | ±$500.00 | ±$1,000 |
| 50 | 500 | ±$250.00 | ±$500.00 | ±$1,250 | ±$2,500 |
M2K vs RTY
10 M2K = 1 RTY. Both contracts track the same market at the same price; only the size, and so the dollar value of each tick, differs.
| RTY | M2K | |
|---|---|---|
| Contract | E-mini Russell 2000 | Micro E-mini Russell 2000 |
| Contract unit | $50 × Russell 2000 index | $5 × Russell 2000 index |
| Tick size | 0.1 index points | 0.1 index points |
| Tick value | $5.00 | $0.50 |
| Point value | $50.00 | $5.00 |
| 10-point move, 1 contract | $500.00 | $50.00 |
| Notional at 2,200 (example) | $110,000 | $11,000 |
| Same exposure | 1 RTY | 10 M2K |
M2K contract specification
| Specification | Value |
|---|---|
| Contract | Micro E-mini Russell 2000 |
| Symbol | M2K |
| Exchange | CME (CME Group), settled in US dollars |
| Contract unit | $5 × Russell 2000 index |
| Tick size | 0.1 index points |
| Tick value | $0.50 per contract |
| Point value | $5.00 per contract (10 ticks) |
| Full-size contract | 10 M2K = 1 RTY |
| 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 | 2,200 (an example, not a live quote) |
| Notional value at the example price | $11,000 |
| 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 2,200, which is not a live quote, one M2K ($5 × Russell 2000 index) has a notional value of 2,200 × $5.00 = $11,000. Multiply your own price by $5.00 for the current value.
M2K 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 M2K 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.
Frequently asked questions
How much is one M2K tick worth?
One M2K tick is a move of 0.1 index points and is worth $0.50 per contract. A full point (10 ticks) is worth $5.00 per contract. On 5 contracts a tick is $2.50.
How many ticks are in a point on M2K?
10. M2K moves in steps of 0.1 index points, so one index point is 1 ÷ 0.1 = 10 ticks, worth 10 × $0.50 = $5.00 per contract.
What is the difference between M2K and RTY?
Both track the same market at the same price. 10 M2K = 1 RTY: M2K is $5 × Russell 2000 index and is worth $0.50 per tick, while RTY is $50 × Russell 2000 index and is worth $5.00 per tick. A 10-point move is $50.00 on one M2K and $500.00 on one RTY. The micro lets you size in tenths of the full contract.
How do I calculate M2K 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 × $0.50 × contracts. Long 2 M2K from 2,200 to 2,210: 10 index points = 100 ticks, and 100 × $0.50 × 2 = $100.00. Subtract your round-turn commission per contract for the net result.
How much margin do I need to trade M2K?
There is no fixed figure. CME Group sets the initial and maintenance margin for M2K 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 2,200 one M2K controls $11,000.
Is the M2K tick value the same at every broker?
Yes. The tick size and tick value are set by the exchange, so one M2K tick is $0.50 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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