Futures
MES (Micro E-mini S&P 500)
Definition
A futures contract worth $5 times the S&P 500 index, one-tenth of ES. One 0.25-point tick is worth $1.25.
Example
Say the S&P 500 is at 6,000, so one MES contract represents $30,000 of the index (6,000 × $5). If the index rises 10 points to 6,010, that is 40 ticks of $1.25, a $50 gain per contract, while the same move on one ES would be $500. A 100-point drop would cost $500 on a single MES.
Hypothetical numbers, for illustration only.
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