Tick
A tick is the minimum price movement of a trading instrument. Each price change, regardless of size, is also called a tick in market data terminology. Tick data is the most granular level of market information available.
Understanding the Concept
• Tick size varies by asset (stocks: $0.01, E-mini futures: 0.25 points) • Tick data shows every trade, not just periodic snapshots • Used in high-frequency trading and detailed market analysis • More ticks = higher activity and liquidity
Real-World Example
E-mini S&P 500 futures have a tick size of 0.25 points, worth $12.50 per contract. If the price moves from 4500.00 to 4500.25, that's one tick ($12.50 per contract). A 10-point move equals 40 ticks or $500 per contract. Scalpers often target just a few ticks per trade.
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