What is a point move worth in MES futures?

MES is the Micro E-mini S&P 500 futures contract. It tracks the S&P 500 stock index — a basket of roughly 500 large U.S. public companies — without you buying any of those stocks directly. Each 1.00 index-point move in the S&P 500 is worth $5 per contract.

How the $5-per-point math works

MES has a fixed multiplier of 5. To find your dollar gain or loss, take the number of index points the price moved and multiply by 5. If the S&P 500 index moves from 5,000.00 to 5,010.00, that's a 10-point move, worth 10 × $5 = $50 per contract.

Why traders use MES instead of the full-size contract

The standard E-mini S&P 500 (ES) contract is 10 times larger, at $50 per point. MES was built for smaller accounts and beginners who want to practice with S&P 500 exposure without the notional size of the full contract.

Practice it risk-free

Soku Trade is a free futures paper trading simulator with live-priced MES quotes. You can place a paper trade, watch the point value math play out in real time, and close the position without any real money at risk.