QM tick value & contract specs
E-mini Crude Oil (QM) futures trade on NYMEX. The price moves in ticks of 0.025, each tick is worth $12.50 per contract, and a full one-point move is worth $500 per contract.
QM contract specifications
| Symbol | QM |
|---|---|
| Contract | E-mini Crude Oil |
| Exchange | NYMEX |
| Tick size | 0.025 |
| Tick value (per contract) | $12.50 |
| Point value (per contract) | $500 |
| Ticks per point | 40 |
| Contract size | 500 barrels |
| Electronic hours (ET) | Sun–Fri 6:00pm – 5:00pm, daily break 5:00–6:00pm |
Hours shift around US holidays and early closes. Check CME Group's trading-hours page before relying on them for a specific date.
This is the smaller version of CL (Crude Oil (WTI)), which is worth $10 per tick. CL specs →
QM ticks to dollars
10 ticks × 1 contract = $125
QM tick value table
Dollar value of a move in QM before commissions, at $12.50 per tick per contract.
| Ticks | 1 contract | 2 contracts | 5 contracts | 10 contracts |
|---|---|---|---|---|
| 1 | $12.50 | $25 | $62.50 | $125 |
| 4 | $50 | $100 | $250 | $500 |
| 10 | $125 | $250 | $625 | $1,250 |
| 20 | $250 | $500 | $1,250 | $2,500 |
| 40 | $500 | $1,000 | $2,500 | $5,000 |
Worked example
You buy 2 QM contracts and the price rises 10 ticks. Profit before fees = 10 ticks × $12.50 × 2 contracts = $250. The same move against you is a loss of the same amount.
Get contract math right on every trade, automatically
Fillbook calculates futures P&L, R-multiple, and position sizing per contract automatically — no manual lookup, no spreadsheet formula. 14-day free trial, no card required.
Start free trial →Frequently asked questions
$12.50 per contract. QM moves in increments of 0.025, and each increment changes the value of one contract by $12.50.
$500 per contract. One point is 40 ticks of 0.025.
No. They are gross values from price movement alone. Your net result is lower by your broker's or prop firm's per-side fees; the fee guide lists current rates.
More contracts: Energy
Futures P&L calculator with QM selectedFutures Position Size Calculator (Free, No Signup) — FillbookFutures Trading Journal: Auto-Sync & Real Tick P&L — FillbookAll futures tick values
These are the tick and point values Fillbook uses to calculate P&L on every logged QM trade. Confirm specifications with the exchange before trading. NYMEX contract specifications