{"slug":"futures-tick-size-and-tick-value","qid":"pnl_worked_examples","label":"Worked P&L examples: ticks moved x tick value x contracts (hypothetical)","post_title":"Futures Tick Size and Tick Value Explained","post_url":"/blog/futures-tick-size-and-tick-value#q-pnl_worked_examples","columns":["example","ticks_moved","tick_value_usd","contracts","pnl_usd"],"rows":[{"example":"ES up 4.50 points, 1 contract","ticks_moved":18,"tick_value_usd":12.5,"contracts":1,"pnl_usd":225},{"example":"ES up 4.50 points, 3 contracts","ticks_moved":18,"tick_value_usd":12.5,"contracts":3,"pnl_usd":675},{"example":"MES up 4.50 points, 1 contract","ticks_moved":18,"tick_value_usd":1.25,"contracts":1,"pnl_usd":22.5},{"example":"CL down 0.85 per barrel, long 1 contract","ticks_moved":-85,"tick_value_usd":10,"contracts":1,"pnl_usd":-850},{"example":"MCL down 0.85 per barrel, long 1 contract","ticks_moved":-85,"tick_value_usd":1,"contracts":1,"pnl_usd":-85},{"example":"ZN up 8/32 (110-16 to 110-24), 1 contract","ticks_moved":16,"tick_value_usd":15.625,"contracts":1,"pnl_usd":250},{"example":"ZB down 12/32 (118-00 to 117-20), long 1 contract","ticks_moved":-12,"tick_value_usd":31.25,"contracts":1,"pnl_usd":-375}],"shape":"table","sql":"SELECT\n    example,\n    ticks_moved,\n    tick_value_usd,\n    contracts,\n    ticks_moved * tick_value_usd * contracts AS pnl_usd\nFROM\n(\n    SELECT 1 AS id, 'ES up 4.50 points, 1 contract' AS example, 18 AS ticks_moved, 12.50 AS tick_value_usd, 1 AS contracts\n    UNION ALL SELECT 2, 'ES up 4.50 points, 3 contracts', 18, 12.50, 3\n    UNION ALL SELECT 3, 'MES up 4.50 points, 1 contract', 18, 1.25, 1\n    UNION ALL SELECT 4, 'CL down 0.85 per barrel, long 1 contract', -85, 10.00, 1\n    UNION ALL SELECT 5, 'MCL down 0.85 per barrel, long 1 contract', -85, 1.00, 1\n    UNION ALL SELECT 6, 'ZN up 8/32 (110-16 to 110-24), 1 contract', 16, 15.625, 1\n    UNION ALL SELECT 7, 'ZB down 12/32 (118-00 to 117-20), long 1 contract', -12, 31.25, 1\n) AS examples\nORDER BY id","computed_at":"2026-09-16T15:40:17.407976+00:00","elapsed":0.001636032}