What Is a Tick?

I. What Is an Index?: Section 3 of 5

The minimum price movement of an index futures or options contract is called a "tick." The value of a tick is determined by multiplying the minimum tick size by the contract multiplier. In the case of the S&P 500, the minimum tick size is .10 futures index points, so the minimum tick is $250 x .10, or $25.00 per contract. The Nasdaq-100 multiplier is $100 with a minimum tick size of .50, so its minimum tick is $100 x .50, or $50.00 per contract.