Futures
Futures Contract & Tick Value Calculator
Calculate futures contract value, tick value and profit/loss per tick for ES, NQ, CL, GC and more — or enter a custom multiplier and tick size.
Contract value
$250,000.00
- Tick value
- $12.50
- Ticks moved
- —
- P&L
- —
Values are in the contract's quote currency (USD for the listed contracts).
Worked example
A trader goes long 1 E-mini S&P 500 (ES) contract at 5,000 and exits at 5,010.
- Tick value
- 0.25 × $50 = $12.50
- Contract value at entry
- 5,000 × $50 = $250,000
- Ticks moved
- (5,010 − 5,000) ÷ 0.25 = 40 ticks
- P&L
- 40 × $12.50 × 1 contract = $500
A 10-point move on 1 ES contract is worth $500 — the same 10-point move on the Micro (MES, $5 multiplier) would be $50.
How this is calculated
contract value = price × multiplier and tick value = tick size × multiplier. For the E-mini S&P 500 (ES) that is 0.25 × $50 = $12.50 per tick.
With an exit price, P&L is (exit − entry) ÷ tick size × tick value × contracts. Pick a listed contract to auto-fill its spec, or choose “Custom” to enter your own multiplier and tick size.
Common mistakes
- Mixing up points and ticks — moving 10 points on ES is 40 ticks (10 ÷ 0.25), not 10 ticks.
- Using the wrong multiplier for a micro contract, overstating P&L by 10x or more.
- Forgetting to multiply by the number of contracts traded, not just one.
Frequently asked questions
- How is tick value calculated?
- Tick value = tick size × contract multiplier (point value). For the E-mini S&P 500 (ES) that is 0.25 × $50 = $12.50 per tick.
- How is futures P&L calculated?
- P&L = (exit − entry) ÷ tick size × tick value × number of contracts. Moving ES 10 points (40 ticks) on 1 contract is 40 × $12.50 = $500.
- What is the difference between tick size and tick value?
- Tick size is the minimum price increment (e.g. 0.25 index points for ES); tick value is that increment expressed in dollars (0.25 × $50 = $12.50 for ES).
- How is P&L different for micro contracts?
- Micro contracts (e.g. MES, MNQ, MCL) use the same tick size as their full-size counterpart but a smaller multiplier, so tick value — and P&L — is a fraction (often 1/10th) of the full contract.
- Can I use this for a custom or less common contract?
- Yes — enter its multiplier and tick size manually if it isn't in the preset list; the same tickValue = tickSize × multiplier formula applies.
- Does this include margin or overnight financing?
- No — it only calculates contract notional, tick value and price-based P&L; margin requirements are set by your broker/exchange and vary.