How much is one point of ES worth?
One point of ES (E-mini S&P 500) is worth $50 per contract. If the price moves 12 points, each contract makes or loses $600.
ES tick value and point value
E-mini S&P 500. One point is worth $50 per contract and the 0.25 minimum tick $12.50. CME Group specifications, the same at any broker and prop firm.
- 1 point$50
- 1 tick (0.25)$12.50
- Ticks per point4
- 1 ES =10 MES
Contracts
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ES profit and loss per point
| Move | 1 contract | 2 contracts | 3 contracts | 5 contracts |
|---|---|---|---|---|
| 0.25 points (1 tick) | $12.50 | $25 | $37.50 | $62.50 |
| 1 point | $50 | $100 | $150 | $250 |
| 3 points | $150 | $300 | $450 | $750 |
| 6 points | $300 | $600 | $900 | $1,500 |
| 12 points | $600 | $1,200 | $1,800 | $3,000 |
| 30 points | $1,500 | $3,000 | $4,500 | $7,500 |
Before commissions. Profit and loss are symmetrical: the same move against you costs the same.
ES vs MES and NQ
| Contract | Underlying | 1 point | 1 tick |
|---|---|---|---|
| ES | E-mini S&P 500 | $50 | $12.50 |
| MES | Micro E-mini S&P 500 | $5 | $1.25 |
| NQ | E-mini Nasdaq-100 | $20 | $5 |
MES lets you size risk in steps ten times smaller than ES: useful with small accounts or wide stops. NQ tracks a different index: points are worth a different amount and the indices do not move alike, so compare risk in dollars, not points.
ES on a 50K funded account
Points of loss one ES contract can take before each limit. With more contracts, divide by the number of contracts.
| Program | Max loss | Points (1 contract) | Daily limit in points |
|---|---|---|---|
| Topstep Trading Combine | $2,000 | 40 | 20 |
| Apex Trader Funding EOD Evaluation | $2,000 | 40 | 20 |
| Apex Trader Funding Intraday Evaluation | $2,000 | 40 | None |
| Lucid Trading LucidFlex / LucidPro / LucidDaily | $2,000 | 40 | 24 |
| Tradeify Growth | $2,000 | 40 | 25 |
| Tradeify Select | $2,000 | 40 | None |
Example: how many ES on a $50,000 account
With a $50,000 account and 1% risk per trade, you can lose $500 if the stop is hit. With a 6-point stop (24 ticks), each ES contract risks 6 × $50 = $300. That fits 1 contract, risking $300.
If the market is choppier and the stop needs 12 points, the risk per contract doubles and none fit: the money at stake is still $500, only the size changes. With 2% risk ($1,000) and the 6-point stop, 3 contracts fit. When not even one fits, the MES, a tenth of the size, lets you scale down.
How the ES tick value is calculated
The tick is the smallest price move: 0.25 points on ES. Its value is the point value times that size: $50 × 0.25 = $12.50, and one point has 4 ticks. To turn a stop in ticks into money, multiply the ticks by $12.50; to see how many points a given risk allows, divide the money by $50.
These figures are the contract specifications set by the exchange (CME Group), the same at every broker. What varies from one broker to another is the commission per contract and the margin required to open the position: check both before you trade.
Frequently asked questions
What is the ES tick value?
The minimum tick is 0.25 points, worth $12.50 per contract. One point has 4 ticks.
How many MES equal one ES?
Ten. MES is the micro of ES: it tracks the same index at one tenth of the point value ($5 versus $50).
How much do I make on 12 points of ES?
$600 per contract: 12 points × $50. With 5 contracts, $3,000. Your broker’s commissions come on top.