Commodity Contract Value Calculator
Compute the notional value and per-tick dollar value of a commodity futures position from contract size, price and tick increment.
How it works
Contract value = contract size × price × number of contracts · Tick value = tick size × contract size × contracts
A futures contract controls a fixed quantity of the underlying commodity, so its notional value is that contract size times the current price. The tick value — the dollar impact of the smallest allowed price move — tells you how much each minimum wiggle in the price is worth, which is essential for gauging risk and setting stops. Multiply by the number of contracts to scale up a multi-lot position.
Worked example
One crude-oil contract of 1,000 barrels at $75 is worth 1,000 × $75 = $75,000. With a $0.01 minimum tick, each tick is worth 0.01 × 1,000 = $10 per contract.
Frequently asked questions
What is notional value?
Notional value is the full market value of the commodity the contract controls — contract size times price. You do not pay this amount; you post a much smaller margin, which is what creates leverage.
Why does tick value matter?
Tick value converts price movement into dollars. Knowing that each tick is worth, say, $10 lets you translate a stop-loss set in ticks directly into the money you are risking.
Is contract value the same as margin?
No. Contract value is the full notional exposure; margin is the deposit the exchange requires to hold the position, usually a small percentage of the notional. Use the futures margin and leverage calculator for that.
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Educational estimate, not investment advice. Trading forex, futures and options carries substantial risk of loss.