Futures Contract Specs and Tick Values
Tick size, tick value, and point value for 20 CME futures contracts, all in one table and checked against the CME spec pages linked in every section. Micros are listed first, on a funded account with a tight drawdown they are usually the right place to start.
All 20 Contracts at a Glance
| Symbol | Name | Tick Size | Tick Value | Point Value | Contract Unit | Exchange |
|---|---|---|---|---|---|---|
| MES | Micro E-mini S&P 500 | 0.25 | $1.25 | $5.00 | $5 x S&P 500 Index | CME |
| ES | E-mini S&P 500 | 0.25 | $12.50 | $50.00 | $50 x S&P 500 Index | CME |
| MNQ | Micro E-mini Nasdaq-100 | 0.25 | $0.50 | $2.00 | $2 x Nasdaq-100 Index | CME |
| NQ | E-mini Nasdaq-100 | 0.25 | $5.00 | $20.00 | $20 x Nasdaq-100 Index | CME |
| MYM | Micro E-mini Dow | 1 | $0.50 | $0.50 | $0.50 x DJIA Index | CBOT |
| YM | E-mini Dow | 1 | $5.00 | $5.00 | $5 x DJIA Index | CBOT |
| M2K | Micro E-mini Russell 2000 | 0.1 | $0.50 | $5.00 | $5 x Russell 2000 Index | CME |
| RTY | E-mini Russell 2000 | 0.1 | $5.00 | $50.00 | $50 x Russell 2000 Index | CME |
| MCL | Micro WTI Crude Oil | 0.01 | $1.00 | $100.00 | 100 barrels | NYMEX |
| CL | Crude Oil | 0.01 | $10.00 | $1,000.00 | 1,000 barrels | NYMEX |
| NG | Henry Hub Natural Gas | 0.001 | $10.00 | $10,000.00 | 10,000 MMBtu | NYMEX |
| MGC | Micro Gold | 0.1 | $1.00 | $10.00 | 10 troy ounces | COMEX |
| GC | Gold | 0.1 | $10.00 | $100.00 | 100 troy ounces | COMEX |
| SIL | Micro Silver | 0.005 | $5.00 | $1,000.00 | 1,000 troy ounces | COMEX |
| SI | Silver | 0.005 | $25.00 | $5,000.00 | 5,000 troy ounces | COMEX |
| HG | Copper | 0.0005 | $12.50 | $25,000.00 | 25,000 pounds | COMEX |
| ZB | 30-Year T-Bond | 0.03125 | $31.25 | $1,000.00 | $100,000 face value 30-Year U.S. Treasury Bond | CBOT |
| ZN | 10-Year T-Note | 0.015625 | $15.625 | $1,000.00 | $100,000 face value 10-Year U.S. Treasury Note | CBOT |
| ZF | 5-Year T-Note | 0.0078125 | $7.8125 | $1,000.00 | $100,000 face value 5-Year U.S. Treasury Note | CBOT |
| 6E | Euro FX | 0.00005 | $6.25 | $125,000.00 | 125,000 euros | CME |
MES Tick Value and Contract Specs (Micro E-mini S&P 500)
- Tick size
- 0.25
- Tick value
- $1.25
- Point value
- $5.00
- Contract unit
- $5 x S&P 500 Index
- Exchange
- CME
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Full-size version: ES
CME contract specs page for MES
The micro S&P is the workhorse of funded accounts, small enough that a tight trailing drawdown can survive a normal stop.
ES Tick Value and Contract Specs (E-mini S&P 500)
- Tick size
- 0.25
- Tick value
- $12.50
- Point value
- $50.00
- Contract unit
- $50 x S&P 500 Index
- Exchange
- CME
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Micro version: MES
CME contract specs page for ES
The full E-mini S&P, ten times the micro. Once your cushion supports it, one ES fill replaces ten MES fills.
MNQ Tick Value and Contract Specs (Micro E-mini Nasdaq-100)
- Tick size
- 0.25
- Tick value
- $0.50
- Point value
- $2.00
- Contract unit
- $2 x Nasdaq-100 Index
- Exchange
- CME
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Full-size version: NQ
CME contract specs page for MNQ
The micro Nasdaq moves a long way for its size, which is exactly why so many evals meet it first. Size it off the table, not off habit.
NQ Tick Value and Contract Specs (E-mini Nasdaq-100)
- Tick size
- 0.25
- Tick value
- $5.00
- Point value
- $20.00
- Contract unit
- $20 x Nasdaq-100 Index
- Exchange
- CME
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Micro version: MNQ
CME contract specs page for NQ
Full-size Nasdaq. The tick value looks tame next to ES until you remember how far NQ travels in a session.
MYM Tick Value and Contract Specs (Micro E-mini Dow)
- Tick size
- 1
- Tick value
- $0.50
- Point value
- $0.50
- Contract unit
- $0.50 x DJIA Index
- Exchange
- CBOT
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Full-size version: YM
CME contract specs page for MYM
The micro Dow keeps the heat low, one of the smallest tick values in this table, useful when you want index exposure without much riding on each tick.
YM Tick Value and Contract Specs (E-mini Dow)
- Tick size
- 1
- Tick value
- $5.00
- Point value
- $5.00
- Contract unit
- $5 x DJIA Index
- Exchange
- CBOT
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Micro version: MYM
CME contract specs page for YM
The E-mini Dow ticks in whole index points, so the mental math here is the easiest of the equity minis.
M2K Tick Value and Contract Specs (Micro E-mini Russell 2000)
- Tick size
- 0.1
- Tick value
- $0.50
- Point value
- $5.00
- Contract unit
- $5 x Russell 2000 Index
- Exchange
- CME
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Full-size version: RTY
CME contract specs page for M2K
The micro Russell, small caps at micro size, and the usual pairing for eval accounts that want away from the S&P crowd.
RTY Tick Value and Contract Specs (E-mini Russell 2000)
- Tick size
- 0.1
- Tick value
- $5.00
- Point value
- $50.00
- Contract unit
- $50 x Russell 2000 Index
- Exchange
- CME
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Micro version: M2K
CME contract specs page for RTY
The E-mini Russell 2000, the small-cap index at full size.
MCL Tick Value and Contract Specs (Micro WTI Crude Oil)
- Tick size
- 0.01
- Tick value
- $1.00
- Point value
- $100.00
- Contract unit
- 100 barrels
- Exchange
- NYMEX
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Full-size version: CL
CME contract specs page for MCL
Micro crude keeps oil tradable on an eval-size drawdown. Same tape as CL, a tenth of the consequences.
CL Tick Value and Contract Specs (Crude Oil)
- Tick size
- 0.01
- Tick value
- $10.00
- Point value
- $1,000.00
- Contract unit
- 1,000 barrels
- Exchange
- NYMEX
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Micro version: MCL
CME contract specs page for CL
Full-size crude, a big tick value on a fast tape. Respect the stop math here before you respect your bias.
NG Tick Value and Contract Specs (Henry Hub Natural Gas)
- Tick size
- 0.001
- Tick value
- $10.00
- Point value
- $10,000.00
- Contract unit
- 10,000 MMBtu
- Exchange
- NYMEX
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
CME contract specs page for NG
Natural gas has no micro sibling in this table, and its tick math surprises people. Read the row before you size it.
MGC Tick Value and Contract Specs (Micro Gold)
- Tick size
- 0.1
- Tick value
- $1.00
- Point value
- $10.00
- Contract unit
- 10 troy ounces
- Exchange
- COMEX
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Full-size version: GC
CME contract specs page for MGC
Micro gold, the same tick increment as GC at a tenth of the money.
GC Tick Value and Contract Specs (Gold)
- Tick size
- 0.1
- Tick value
- $10.00
- Point value
- $100.00
- Contract unit
- 100 troy ounces
- Exchange
- COMEX
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Micro version: MGC
CME contract specs page for GC
Gold at full size. The round tick increment makes the math easy, the tick value makes the mistakes expensive.
SIL Tick Value and Contract Specs (Micro Silver)
- Tick size
- 0.005
- Tick value
- $5.00
- Point value
- $1,000.00
- Contract unit
- 1,000 troy ounces
- Exchange
- COMEX
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Full-size version: SI
CME contract specs page for SIL
Micro silver is the exception on this page, it is a fifth of full silver rather than a tenth, so size it accordingly.
SI Tick Value and Contract Specs (Silver)
- Tick size
- 0.005
- Tick value
- $25.00
- Point value
- $5,000.00
- Contract unit
- 5,000 troy ounces
- Exchange
- COMEX
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
Micro version: SIL
CME contract specs page for SI
Full-size silver, a heavy tick value and a tape that moves faster than gold when it decides to go.
HG Tick Value and Contract Specs (Copper)
- Tick size
- 0.0005
- Tick value
- $12.50
- Point value
- $25,000.00
- Contract unit
- 25,000 pounds
- Exchange
- COMEX
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
CME contract specs page for HG
Copper ticks are tiny in price and large in dollars. Worth a hard look at the row before your first trade in it.
ZB Tick Value and Contract Specs (30-Year T-Bond)
- Tick size
- 0.03125
- Tick value
- $31.25
- Point value
- $1,000.00
- Contract unit
- $100,000 face value 30-Year U.S. Treasury Bond
- Exchange
- CBOT
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
CME contract specs page for ZB
The 30-year bond, quoted in 32nds. The table shows the decimal, the pit vocabulary still runs in fractions.
ZN Tick Value and Contract Specs (10-Year T-Note)
- Tick size
- 0.015625
- Tick value
- $15.625
- Point value
- $1,000.00
- Contract unit
- $100,000 face value 10-Year U.S. Treasury Note
- Exchange
- CBOT
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
CME contract specs page for ZN
The 10-year note, quoted in half 32nds.
ZF Tick Value and Contract Specs (5-Year T-Note)
- Tick size
- 0.0078125
- Tick value
- $7.8125
- Point value
- $1,000.00
- Contract unit
- $100,000 face value 5-Year U.S. Treasury Note
- Exchange
- CBOT
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
CME contract specs page for ZF
The 5-year note, quoted in quarter 32nds, the smallest treasury tick value in this table.
6E Tick Value and Contract Specs (Euro FX)
- Tick size
- 0.00005
- Tick value
- $6.25
- Point value
- $125,000.00
- Contract unit
- 125,000 euros
- Exchange
- CME
- Trading hours
- Sun-Fri 5:00pm-4:00pm CT, daily halt 4:00-5:00pm CT
CME contract specs page for 6E
Euro FX. The tick size looks tiny on paper and the tick value is not, read the row twice before your first trade.
Micro vs Mini Futures
A micro is the same market at a fraction of the size. Same tick increments, same session, settled off the same index or commodity, just less money moving per tick. For six of the seven pairs in this table the micro is exactly one tenth of the full contract, and micro silver is the odd one out at one fifth.
The reason micros matter on funded accounts is drawdown math. A trailing drawdown measured in hundreds of dollars cannot hold a full-size stop through normal noise, and the micro buys you that room without changing the trade. Run your numbers through the position size calculator and it will tell you which size your cushion actually supports.
Why There Are No Margins on This Page
Day trading margins are missing from this table on purpose. Margin is set by your broker and your platform, not by CME, it changes without notice, and two traders in the same market can be posting different amounts on the same morning. Check your broker's margin schedule, treat it as a moving number, and never build a sizing plan around it.
Contract Spec Questions
What is a tick in futures trading?
A tick is the smallest price increment a contract can move, and every contract defines its own. On ES that increment is a quarter point worth 12.50 dollars a contract, on ZN it is a half 32nd worth 15.625 dollars. The table above lists the tick for all 20 markets on this page.
How much is one tick on NQ?
Five dollars on NQ, and fifty cents on its micro, MNQ. Both move in quarter-point increments, the micro just carries a tenth of the money.
How much is a tick on gold futures?
Ten dollars on GC and one dollar on micro gold, MGC. Both tick in ten-cent price increments.
How much is one ES contract worth per point?
Fifty dollars a point on ES, five dollars a point on MES. If you are asking what it costs to hold one, that is margin, and margin is set by your broker rather than the exchange, so no fixed number belongs in a spec table.
More Tools
The position size calculator turns these tick values into an actual contract count off your real drawdown distance, and the drawdown calculator walks that floor forward day by day. The futures market hours page covers when these contracts actually trade, including the daily halt and the holiday schedule. Every tool we build lives on the tools hub.
If the account you are sizing for runs a trailing drawdown, the trailing drawdown guide covers how that floor really moves. And if you have not picked a firm yet, the prop firm finder matches firms to how you actually trade.