Futures Tick/Point Value Calculator
Calculate the dollar value of a single tick and a single point move for any futures contract. Essential for converting stop distances into dollar risk and sizing positions correctly.
Minimum price increment (ES = 0.25, CL = 0.01)
P/L per tick per contract (ES = $12.50, CL = $10)
Enter tick size and dollar value per tick, then click Calculate tick value to see per-tick and per-point P/L for your position.
For educational purposes only. Not financial advice. Read full disclaimer
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Tick & Point Value Formulas
Ticks Per Point = 1 / Tick Size
Point Value = Dollar Per Tick x Ticks Per Point
Tick Value (Total) = Dollar Per Tick x Contracts
P/L Per Point = Point Value x Contracts
P/L Per 10 Ticks = Dollar Per Tick x 10 x Contracts
Worked Examples
Example 1: ES (E-mini S&P 500) — 2 Contracts
The ES has a tick size of 0.25 points and each tick is worth $12.50. You hold 2 contracts.
- Ticks per point = 1 / 0.25 = 4
- Point value (1 contract) = $12.50 x 4 = $50.00
- Tick value (2 contracts) = $12.50 x 2 = $25.00 per tick
- P/L per point (2 contracts) = $50 x 2 = $100.00
- P/L per 10 ticks (2 contracts) = $12.50 x 10 x 2 = $250.00
Example 2: CL (Crude Oil) — 1 Contract
Crude Oil (CL) has a tick size of $0.01 and each tick is worth $10.00. You hold 1 contract.
- Ticks per point = 1 / 0.01 = 100
- Point value (1 contract) = $10 x 100 = $1,000.00
- Tick value (1 contract) = $10.00 per tick
- P/L per point (1 contract) = $1,000.00
- P/L per 10 ticks (1 contract) = $10 x 10 = $100.00
How to Use This Calculator
- Select a preset or enter values manually — use the quick preset buttons for popular contracts (ES, NQ, CL, GC, MES) or type in custom tick size and dollar value per tick.
- Set the number of contracts — enter how many contracts you hold or plan to trade.
- Click Calculate tick value — the calculator shows tick value, point value, ticks per point, and a P/L breakdown by move size.
- Use the results for position sizing — multiply tick value by your stop distance in ticks to calculate dollar risk per trade.
Frequently Asked Questions
- What is the difference between a tick and a point in futures?
- A tick is the smallest price increment a futures contract can move. A point is one full unit of price. For ES (E-mini S&P 500), a tick is 0.25 points, so there are 4 ticks per point. For CL (Crude Oil), a tick is $0.01, so there are 100 ticks per point. The dollar value of a point equals the tick value multiplied by the number of ticks per point.
- Why do different futures contracts have different tick sizes?
- Tick sizes are set by the exchange to balance liquidity and precision. Contracts with higher notional values (like equity index futures) use larger tick sizes to keep order book depth manageable. Commodity contracts like crude oil use smaller ticks because the underlying price per unit is lower and traders need finer granularity.
- How do I calculate my dollar risk in ticks?
- Multiply the number of ticks in your stop loss by the dollar value per tick, then multiply by the number of contracts. For example, a 10-tick stop on 2 ES contracts: 10 ticks x $12.50 x 2 = $250 risk. This is the same as 2.5 points x $50 x 2 = $250.
- What are the most commonly traded futures contracts?
- The most liquid futures contracts include ES (E-mini S&P 500), NQ (E-mini Nasdaq 100), CL (Crude Oil), GC (Gold), and their micro versions (MES, MNQ, MCL, MGC). Micro contracts are popular with retail traders because they offer 1/10th the exposure of their full-size counterparts.
- How does the number of contracts affect tick value?
- Tick value scales linearly with contracts. If one ES contract moves one tick and you make $12.50, then 3 contracts moving one tick earns $37.50. The same applies to point values. This is why position sizing in futures is critical — each additional contract multiplies both potential profit and risk.