LoggingTradesES contract specs
| Contract | E-mini S&P 500 (ES) |
|---|---|
| Exchange | CME (CME Group) |
| Contract size | $50 × S&P 500 index |
| Tick size | 0.25 |
| Tick value | $12.50 |
| Point value | $50 |
| Typical session | Sunday–Friday, 6:00 p.m.–5:00 p.m. ET (5:00 p.m.–4:00 p.m. CT) on CME Globex, with a daily break from 5:00 p.m. to 6:00 p.m. ET. Holiday hours differ. |
Specs as listed by CME Group; confirm with your broker. Margin requirements vary by broker and prop firm, so they are not listed here.
ES tick value in dollars
ES tracks the S&P 500 and is the benchmark equity-index future. Because one point is $50, even a small intraday swing is hundreds of dollars per contract, which is why many prop-firm traders start on the micro.
Worked example. You buy 1 ES at 5000 and sell at 5010. The move is 10 price units, which is 40 ticks. At $12.50 per tick that is $500 per contract; trading 2 contracts doubles it to $1,000. A stop the same distance away would cost the same amount, which is why you should convert every stop into dollars before you enter.
Micro vs mini
ES has a micro counterpart, MES (Micro E-mini S&P 500), at one-tenth the size: a tick is $1.25 instead of $12.50 and a point is $5 instead of $50. Ten micros equal one ES in dollar exposure, so you can build up to a mini position one contract at a time.
To turn a stop distance into a contract count, use the position size calculator. Inside a prop-firm evaluation, check the result against the drawdown with the prop firm challenge calculator, and read the micro vs mini futures guide.
FAQ
What is the ES tick value?
One ES tick is 0.25 and is worth $12.50 per contract. One full point is $50 per contract.
How many ticks are in a point for ES?
4 ticks per point, because the minimum price increment is 0.25.
How much do I make or lose on a 40-tick ES move?
40 ticks × $12.50 = $500 per contract, before commissions and fees. With 3 contracts that is $1,500.
When does ES trade?
ES trades on CME Globex Sunday–Friday, 6:00 p.m.–5:00 p.m. ET (5:00 p.m.–4:00 p.m. CT) on CME Globex, with a daily break from 5:00 p.m. to 6:00 p.m. ET. Holiday hours differ. Confirm current hours with your broker and CME Group.