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Futures Tick Value Calculator

Enter the tick size, contract size and number of ticks to get the tick value.

How it is calculated

The tool multiplies the smallest price step by the contract multiplier: tick value = tick size × contract size, then total = tick value × number of ticks. Tick size is the minimum price move in the quote unit (index points, dollars per barrel), contract size is the dollar multiplier per one full price unit (for example $50 per index point, or 1000 barrels), and number of ticks is how far the price moved. If the number of ticks is left blank it is taken as 1. The figures are for one contract, so multiply by your number of contracts yourself. A negative number of ticks gives a negative total, shown with a minus sign, which represents a loss. Tick size and contract size cannot be negative; a negative value gives no result. Amounts are shown in dollars with two decimals.

Worked example

An index future has a tick size of 0.25 and a multiplier of 50. Step 1: one tick is worth 0.25 × 50, which the tool shows as $12.50. Step 2: the price moves 6 ticks (1.5 index points), so the total is 12.50 × 6 = $75.00 per contract. With 3 contracts the same move would be worth 3 × 75 = $225, a step you do yourself because the tool values one contract. Entering -6 ticks for a move against you shows -$75.00.

Try this example →

Common mistakes

  • Entering the contract's notional value instead of the multiplier. The field expects dollars per one price unit (for example 50), not the value of the whole contract.
  • Confusing ticks with points. With a tick of 0.25, a move of 1.5 points is 6 ticks, not 1.5 ticks.
  • Forgetting the number of contracts. The result is for one contract only, so multiply it by your position size.
  • Typing the tick size as a percentage or a count of decimals. Enter the actual price increment, such as 0.25 or 0.01.
  • Leaving the number of ticks blank and reading the total as a multi-tick move. Blank means 1 tick, so the total simply equals the tick value.

About this calculator

A tick is the minimum price increment a futures contract can move, and the tick value is what that smallest move is worth in dollars: tick value = tick size × contract multiplier. Every futures product has its own fixed tick size and multiplier set by the exchange — for example, one E-mini S&P 500 tick is 0.25 index points worth $12.50, while one CME crude oil tick is $0.01/barrel worth $10 on a 1,000-barrel contract — so the dollar risk of the exact same "number of ticks" varies enormously between contracts.

Futures traders use tick value to translate a chart move (measured in ticks) directly into profit-and-loss dollars and to size a position against a fixed-dollar risk limit, which is a calculation done before every single trade rather than an occasional lookup. Futures are leveraged, so a move against you can cost more than the margin you posted.

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