CME
Micro E-mini Nasdaq-100 (MNQ) Tick Value & Contract Specs
Tick value $0.50 per tick — $2 × the Nasdaq-100 index.
One-tenth of NQ, tick for tick: the Micro E-mini Nasdaq-100 (MNQ) is worth $2 per index point, so its 0.25-point tick equals $0.50. A 100-point Nasdaq move — a perfectly ordinary session — is $200 per MNQ contract versus $2,000 on full-size NQ. For an index this fast, that ten-fold reduction is frequently the difference between a survivable stop-out and an outsized loss.
MNQ consistently ranks among the highest-volume micro contracts on CME, which keeps spreads tight enough for active trading. It suits three groups particularly well: traders building experience on a volatile index without full-size exposure, small accounts that need fine-grained position sizing, and NQ traders who scale in and out in tenths. Because the price ladder is identical to NQ, everything learned on the micro transfers directly to the full-size contract later. The calculator below turns any MNQ trade plan — entry, stop, target and contract count — into exact tick and dollar figures.
- Exchange
- CME
- Contract size
- $2 × the Nasdaq-100 index
- Tick size
- 0.25
- Tick value
- $0.50
- Point value (multiplier)
- $2
- Trading hours
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 4:15pm–4:30pm ET
- Margin
- Margin is roughly one-tenth of full-size NQ and varies by broker — micros are commonly used to keep margin usage low in volatile tech markets.
How MNQ 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 MNQ, that is 0.25 × $2 = $0.50 per tick, per contract.
One contract represents $2 × the Nasdaq-100 index. P&L for a move from entry to exit is (exit − entry) ÷ tick size × tick value × contracts.
MNQ contract months and ticker symbols
A futures ticker is three parts: the root, a one-letter delivery month, and the year. MNQZ2026 is the December 2026 MNQ contract. The month letters skip I and L, which would read as 1 and 7 on a ticker.
| Code | Month | Listed for MNQ? |
|---|---|---|
| F | January | No |
| G | February | No |
| H | March | Yes — MNQH |
| J | April | No |
| K | May | No |
| M | June | Yes — MNQM |
| N | July | No |
| Q | August | No |
| U | September | Yes — MNQU |
| V | October | No |
| X | November | No |
| Z | December | Yes — MNQZ |
Which MNQ 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 |
|---|---|---|
| MNQ1! | TradingView | Continuous front-month contract. "2!" is the next one out, and a dated contract is written in full, e.g. MNQZ2026. |
| MNQ00 | Barchart | Continuous front-month series. "MNQZ26" style codes name a specific month and year instead. |
| MNQc1 | Refinitiv / Reuters | Continuous front month; c2 is the second month out. |
| /MNQ | thinkorswim, tastytrade | The leading slash marks it as a future rather than a stock. A specific month is /MNQZ26. |
| MNQ=F | Yahoo Finance | The "=F" suffix denotes the front-month futures series. |
| $MNQ | 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 MNQZ26 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 MNQ?
- $0.50 per tick — a 0.25 tick size × a $2 multiplier (point value).
- What is one MNQ contract worth?
- One contract represents $2 × the Nasdaq-100 index. Notional value = price × $2; use the tick value calculator with the current price for an exact figure.
- Which exchange lists MNQ?
- Micro E-mini Nasdaq-100 (MNQ) trades on the CME.
- What are the trading hours for MNQ?
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 4:15pm–4:30pm ET.
- How much margin do I need to trade MNQ?
- Margin is roughly one-tenth of full-size NQ and varies by broker — micros are commonly used to keep margin usage low in volatile tech markets.
- What are the MNQ contract months?
- MNQ lists March, June, September and December.
- What does MNQZ2026 mean?
- It is one specific MNQ contract: the root MNQ, the delivery-month code Z, and the year. Z is December, so MNQZ2026 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 MNQ00, MNQ1! or /MNQ?
- All three name the same thing: the continuous front-month MNQ contract, written differently by different platforms. Barchart uses MNQ00, TradingView MNQ1!, thinkorswim and tastytrade /MNQ, Yahoo Finance MNQ=F, and MNQ on social media is usually written $MNQ. None of them is a separate instrument — each stitches together whichever dated contract is currently the front month.
- How is P&L calculated for MNQ?
- P&L = (exit price − entry price) ÷ 0.25 tick size × $0.50 tick value × number of contracts. Use the tick value calculator to compute this directly.
More futures contract specs
- NQ — E-mini Nasdaq-100Tick value $5.00 · CME
- YM — E-mini DowTick value $5.00 · CBOT
- MYM — Micro E-mini DowTick value $0.50 · CBOT
- RTY — E-mini Russell 2000Tick value $5.00 · CME
See all futures contract specs or use the futures contract & tick value calculator with any symbol or custom specs.
Specs last reviewed 2026-09-06. Exchanges can amend contract specs — always confirm against the exchange or your broker before trading.