Tick values and point values for CME futures
From CME Group's contract specifications, checked 2026-10-08; point value = tick value ÷ tick size.
| Symbol | Contract | Contract unit | Tick | Tick value | Point value |
|---|---|---|---|---|---|
| ES | E-mini S&P 500 | $50 × S&P 500 Index | 0.25 | $12.50 | $50.00 |
| MES | Micro E-mini S&P 500 | $5 × S&P 500 Index | 0.25 | $1.25 | $5.00 |
| NQ | E-mini Nasdaq-100 | $20 × Nasdaq-100 Index | 0.25 | $5.00 | $20.00 |
| MNQ | Micro E-mini Nasdaq-100 | $2 × Nasdaq-100 Index | 0.25 | $0.50 | $2.00 |
| YM | E-mini Dow ($5) | $5 × Dow Jones Industrial Average | 1 | $5.00 | $5.00 |
| MYM | Micro E-mini Dow | $0.50 × Dow Jones Industrial Average | 1 | $0.50 | $0.50 |
| RTY | E-mini Russell 2000 | $50 × Russell 2000 Index | 0.1 | $5.00 | $50.00 |
| M2K | Micro E-mini Russell 2000 | $5 × Russell 2000 Index | 0.1 | $0.50 | $5.00 |
| CL | Crude Oil (WTI) | 1,000 barrels | 0.01 | $10.00 | $1,000.00 |
| MCL | Micro WTI Crude Oil | 100 barrels | 0.01 | $1.00 | $100.00 |
| GC | Gold | 100 troy ounces | 0.1 | $10.00 | $100.00 |
| MGC | Micro Gold | 10 troy ounces | 0.1 | $1.00 | $10.00 |
What a point is here, and where the specs come from
The twelve contracts in the calculator, from CME Group's contract specifications as checked on 2026-10-08. A point here is a 1.00 move in the price: one index point, or $1 a barrel or a troy ounce. Point value = tick value ÷ tick size.
Each symbol links to its CME specification page. The exchange can change a contract, and a platform can show a different symbol for the same one; check the contract details on your platform before you rely on a number.
How to size a futures position: four worked examples
$500 at an 8-point ES stop: 1 contract, $400.00 at risk; the same stop in MES fits 12.
ES, ES with commission, crude oil, the Dow and gold
1. ES with a $500 risk and an 8-point stop. 8 points is 32 ticks of 0.25, and 32 × $12.50 = $400.00 per contract. $500 ÷ $400.00 = 1.25, rounded down to 1 contract, risking $400.00.
2. The same trade with commission. Enter an assumed round-turn cost of $4.50 per contract and the risk per contract becomes $404.50: still 1 contract, now $404.50 at risk. Your broker's or prop firm's actual charges are the ones to enter.
3. Crude oil with a 40-tick stop. CL moves $10.00 a tick, so 40 ticks is $400.00 per contract and $500 buys 1 contract ($400.00). MCL moves $1.00 a tick: $40.00 per contract, so 12 MCL fit, risking $480.00.
4. The Dow and gold. A 40-point stop on YM ($5 a point) risks $200.00, so $500 fits 2 YM ($400.00) or 25 MYM ($500.00). A $5 stop on gold, 50 ticks of $0.10, risks $500.00 on GC and $50.00 on MGC: 1 GC or 10 MGC.
Micro and E-mini contracts: the 1:10 relation
Each micro is a tenth of its full-size contract, so a size between whole E-minis can usually be built in micros.
Why micros size more finely
Every micro in the calculator is one-tenth of its full-size contract and ticks in the same price increment, so its tick value is one-tenth too: $1.25 against $12.50 on the S&P 500, $0.50 against $5.00 on the Nasdaq-100. Ten micros carry the same exposure and the same risk at a stop as one full-size contract.
That is what makes sizing finer. With $500 and an 8-point stop, ES leaves a choice between 1 contract ($400.00, 80% of the budget) and 2 contracts ($800.00, over it). MES fits 12 contracts, $480.00 or 96% of the budget. A size that falls between whole E-minis can usually be built in micros.
What the calculator leaves out
Slippage and gaps, commission unless you enter it, and margin.
Each, in a sentence or two
Slippage and gaps. The calculator assumes the whole position exits at the entered stop price; slippage or a gap can make actual fills worse and the loss larger. Execution depends on the order type: a stop-limit trades only at its limit or better, while a CME stop with protection is restricted to an exchange-defined price range, so some or all contracts can remain unfilled.
Commission and fees. Brokers and prop firms can charge commission and exchange fees per contract. They are left out unless you enter a round-turn cost, which is then added to the risk per contract.
Margin. The margin a broker holds to open a position is set by the exchange and the broker. It decides whether you can open the position, not how much you lose at the stop.
Prop firm contract limits
Firms cap how many contracts you can hold, and the calculator does not know your cap.
Two examples, with sources
The prop firms we have covered cap how many contracts you can hold, and the calculator does not know your cap. Topstep's $50,000 Trading Combine, for example, allows 5 minis or 50 micros, as read from Topstep's help center for our Topstep rules guide on 2026-10-08. Apex Trader Funding's $50,000 evaluation lists a maximum of 6 contracts in the archived help-center pages our Apex guide used; how micros count against that limit, we could not confirm. Firms change their rules, so check your firm's current terms, and size so that a stop-out also stays inside your daily loss limit: the daily loss limit calculator shows what is left of it.