What Is Tick Value in Futures?

Tick value is the amount of money a futures contract gains or loses when its price moves by one tick, the smallest allowed price change.

Examples

• ES (E-mini S&P 500): 0.25-point tick worth $12.50
• MES (Micro E-mini S&P 500): 0.25-point tick worth $1.25
• NQ (E-mini Nasdaq-100): 0.25-point tick worth $5.00
• CL (Crude Oil): $0.01 tick worth $10.00

Why it matters

Your stop distance in ticks multiplied by tick value is your risk per contract. A 16-tick stop on ES risks $200 per contract.

Look up contracts with the futures tick value calculator. Related: position sizing, futures trading journal. See the trading glossary.