Futures Notional Value Calculator
Calculate the total notional value and tick value for any futures contract. Essential for understanding your true market exposure.
Select a futures contract and enter the price, then click Calculate notional value to see your total exposure and tick values.
For educational purposes only. Not financial advice. Read full disclaimer
Related Tools
Position Size Calculator
Calculate position size based on risk tolerance
Forex Pip Calculator
Calculate pip value for forex positions
Risk of Ruin Calculator
Calculate probability of account blowup
Want the full context? See the full trade planning workflow →
Notional Value Formula
Notional Value = Multiplier × Price × Contracts
Tick Value = Multiplier × Tick Size
Example: 1 ES @ 5200 = $50 × 5200 = $260,000
Worked Examples
Example 1: 2 ES (E-mini S&P 500) Contracts at 4,500
You hold 2 E-mini S&P 500 contracts. The ES multiplier is $50 per index point and the tick size is 0.25 points.
- Notional Value per contract = $50 × 4,500 = $225,000
- Total Notional (2 contracts) = $450,000
- Tick Value = $50 × 0.25 = $12.50 per tick
- A 10-point move = 10 × $50 × 2 contracts = $1,000 P/L
Example 2: 1 NQ (E-mini Nasdaq-100) Contract at 15,000
You hold 1 E-mini Nasdaq-100 contract. The NQ multiplier is $20 per index point and the tick size is 0.25 points.
- Notional Value = $20 × 15,000 = $300,000
- Tick Value = $20 × 0.25 = $5.00 per tick
- A 100-point move = 100 × $20 = $2,000 P/L per contract
How to Use This Calculator
- Select or enter your contract — choose a preset futures contract (ES, NQ, CL, GC) or enter a custom multiplier and tick size for any other product.
- Enter number of contracts — input how many contracts you hold or plan to trade.
- Enter the current price — use the last traded price or the price at which you entered the position.
- Review notional value — the calculator shows total market exposure and tick value, helping you size positions relative to your account equity.
Frequently Asked Questions
- What is notional value in futures?
- Notional value is the total market exposure represented by a futures contract — calculated as the contract multiplier times the current price times the number of contracts. It tells you the real dollar size of your position, regardless of margin used.
- Why does notional value matter for risk management?
- Because futures are leveraged, the margin required is only a fraction of the notional value. Knowing your notional exposure helps you avoid over-leveraging — for example, holding $450,000 notional on a $50,000 account is 9:1 leverage.
- What is tick value and why does it matter?
- Tick value is the dollar gain or loss for each minimum price increment (tick) of a futures contract. For ES it's $12.50 per tick; for NQ it's $5.00. Knowing tick value lets you convert stop distances in ticks directly into dollar risk.
- How do I find the contract multiplier for a futures product?
- Contract specifications are published by the exchange on which the contract trades — CME Group for equity index and forex futures, NYMEX for energy, and COMEX for metals. Your broker's platform also lists multipliers in the contract details section.
- What is the difference between notional value and margin requirement?
- Margin is the good-faith deposit required to hold a futures position — typically 3–10% of notional value. Notional value reflects total exposure; margin reflects what your broker requires. A position can have $250,000 notional but only require $6,000 in initial margin.