NYMEX
Micro Henry Hub Natural Gas (MNG) Tick Value & Contract Specs
Tick value $1.00 per tick — 1,000 MMBtu of Henry Hub natural gas.
Micro Henry Hub Natural Gas futures (MNG) hold 1,000 MMBtu, exactly one-tenth of full-size NG. The tick is $0.001 per MMBtu, worth $1.00 per contract, against NG's $10.00. A ten-cent move — an ordinary day in gas — is $100 here and $1,000 there.
That tenth-size ratio matters more in natural gas than anywhere else on this site, because NG is the most violent of the major futures markets. Winter weather models, Thursday's EIA storage report and Gulf hurricane tracks have each produced single sessions where NG covered thirty to fifty cents, which is $3,000 to $5,000 per full-size contract. Those are account-ending moves for a small trader and manageable ones at a tenth the size. MNG is also financially settled, so there is no delivery mechanism to manage into expiry. The contract is a legitimate way to trade gas's character without its consequences — but the character does not change, only the arithmetic. One note before you size: MNG is 1,000 MMBtu, not the 2,500 MMBtu carried by the older E-mini (QG). The calculator below is pre-filled correctly.
- Exchange
- NYMEX
- Contract size
- 1,000 MMBtu of Henry Hub natural gas
- Tick size
- 0.001
- Tick value
- $1.00
- Point value (multiplier)
- $1000
- Trading hours
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET
- Margin
- Margin varies by broker and is roughly a tenth of full-size NG, which is what makes gas tradeable for smaller accounts.
How MNG tick value works
Tick value is the dollar amount one futures contract gains or loses when the price moves one minimum increment (one tick).
tick value = tick size × multiplier. For MNG, that is 0.001 × $1000 = $1.00 per tick, per contract.
One contract represents 1,000 MMBtu of Henry Hub natural gas. P&L for a move from entry to exit is (exit − entry) ÷ tick size × tick value × contracts.
MNG contract months and ticker symbols
A futures ticker is three parts: the root, a one-letter delivery month, and the year. MNGZ2026 is the December 2026 MNG contract. The month letters skip I and L, which would read as 1 and 7 on a ticker.
| Code | Month | Listed for MNG? |
|---|---|---|
| F | January | Yes — MNGF |
| G | February | Yes — MNGG |
| H | March | Yes — MNGH |
| J | April | Yes — MNGJ |
| K | May | Yes — MNGK |
| M | June | Yes — MNGM |
| N | July | Yes — MNGN |
| Q | August | Yes — MNGQ |
| U | September | Yes — MNGU |
| V | October | Yes — MNGV |
| X | November | Yes — MNGX |
| Z | December | Yes — MNGZ |
Which MNG contract am I looking at?
Most charts default to the continuous front-month series rather than a dated contract — one stitched-together chart that rolls to the next month as the current one nears expiry. Every platform spells it differently, which is why the same contract appears under so many names.
| Written as | Platform | Meaning |
|---|---|---|
| MNG1! | TradingView | Continuous front-month contract. "2!" is the next one out, and a dated contract is written in full, e.g. MNGZ2026. |
| MNG00 | Barchart | Continuous front-month series. "MNGZ26" style codes name a specific month and year instead. |
| MNGc1 | Refinitiv / Reuters | Continuous front month; c2 is the second month out. |
| /MNG | thinkorswim, tastytrade | The leading slash marks it as a future rather than a stock. A specific month is /MNGZ26. |
| MNG=F | Yahoo Finance | The "=F" suffix denotes the front-month futures series. |
| $MNG | StockTwits, social | A cashtag, not an exchange symbol. It usually means the front month, but it is informal and ambiguous. |
A dated code such as MNGZ26 always means one specific contract; the continuous forms never do. Check which you are quoting before comparing a price to someone else’s — around a roll they differ.
Frequently asked questions
- What is the tick value for MNG?
- $1.00 per tick — a 0.001 tick size × a $1000 multiplier (point value).
- What is one MNG contract worth?
- One contract represents 1,000 MMBtu of Henry Hub natural gas. Notional value = price × $1000; use the tick value calculator with the current price for an exact figure.
- Which exchange lists MNG?
- Micro Henry Hub Natural Gas (MNG) trades on the NYMEX.
- What are the trading hours for MNG?
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET.
- How much margin do I need to trade MNG?
- Margin varies by broker and is roughly a tenth of full-size NG, which is what makes gas tradeable for smaller accounts.
- What are the MNG contract months?
- MNG lists January, February, March, April, May, June, July, August, September, October, November and December.
- What does MNGZ2026 mean?
- It is one specific MNG contract: the root MNG, the delivery-month code Z, and the year. Z is December, so MNGZ2026 is the December 2026 contract. The codes run F G H J K M N Q U V X Z for January through December — I and L are skipped because they read as 1 and 7 on a ticker.
- What is MNG00, MNG1! or /MNG?
- All three name the same thing: the continuous front-month MNG contract, written differently by different platforms. Barchart uses MNG00, TradingView MNG1!, thinkorswim and tastytrade /MNG, Yahoo Finance MNG=F, and MNG on social media is usually written $MNG. None of them is a separate instrument — each stitches together whichever dated contract is currently the front month.
- How is P&L calculated for MNG?
- P&L = (exit price − entry price) ÷ 0.001 tick size × $1.00 tick value × number of contracts. Use the tick value calculator to compute this directly.
More futures contract specs
- CL — Crude Oil (WTI)Tick value $10.00 · NYMEX
- MCL — Micro WTI Crude OilTick value $1.00 · NYMEX
- NG — Natural GasTick value $10.00 · NYMEX
- RB — RBOB GasolineTick value $4.20 · NYMEX
See all futures contract specs or use the futures contract & tick value calculator with any symbol or custom specs.
Specs last reviewed 2026-09-15. Exchanges can amend contract specs — always confirm against the exchange or your broker before trading.