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.

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.

Tick value is the dollar amount one futures contract gains or loses when the price moves one minimum increment (one tick): tick size × the contract multiplier.

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.

When to use this calculator

Use this before trading any futures contract you have not traded recently. Tick size and multiplier vary widely between products — a 10-point move is $500 on ES but $200 on NQ per contract via different multipliers — and this converts a price move into dollars before you are exposed to it.

It is the fastest way to compare full-size and micro contracts. The same price move on MES is exactly one-tenth of ES, so the calculator shows whether micros let you match your intended risk more precisely.

It also doubles as a notional-exposure check: contract value = price × multiplier is often far larger than the margin posted, and seeing the true notional keeps leverage honest.

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.