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CL position size calculator
1 CL tick = 0.01 points = $10.00. Type your stop and risk to see how many CL or MCL contracts to trade.
CL contract specs
| Contract | Crude Oil (CL) |
|---|---|
| Tick size | 0.01 points |
| Tick value | $10.00 per contract |
| 1 full point (1.00) | $1,000.00 |
| Micro version | MCL (1/10 the size, $1.00 per tick) |
Tick sizes and values follow the exchange contract specs. Check your broker before trading, since fees and margins vary.
CL and MCL stop size cheat sheet
Risk per contract for common stops, and the size closest to $250 of risk (standard contract preferred when it fits).
| Stop | 1 CL | 1 MCL | Size for ~$250 |
|---|---|---|---|
| 5 ticks (0.05 pts) | $50.00 | $5.00 | 5 CL ($250.00) |
| 10 ticks (0.1 pts) | $100.00 | $10.00 | 25 MCL ($250.00) |
| 20 ticks (0.2 pts) | $200.00 | $20.00 | 13 MCL ($260.00) |
| 30 ticks (0.3 pts) | $300.00 | $30.00 | 8 MCL ($240.00) |
| 40 ticks (0.4 pts) | $400.00 | $40.00 | 6 MCL ($240.00) |
| 60 ticks (0.6 pts) | $600.00 | $60.00 | 4 MCL ($240.00) |
How to calculate CL position size
- Pick your stop: 20 ticks is 0.2 points.
- Risk per contract = ticks × tick value = 20 × $10.00 = $200.00.
- Contracts = your risk ÷ risk per contract, rounded to a whole number that stays inside your range.
Entering prices instead? The stop distance is entry minus stop, divided by the tick size (0.01) to get ticks. See the full guide: how to calculate futures position size.
Questions
What is the tick value of CL?
One CL tick is 0.01 points and is worth $10.00 per contract. A full 1.00-point move is worth $1,000.00.
How many CL contracts should I trade?
Divide the dollars you are willing to lose by the risk of one contract. With a 20-tick stop, one CL risks $200.00. For a $500 risk and a 40-tick stop, the calculator suggests 13 MCL ($520.00).
What is the micro version of CL?
MCL (Micro Crude Oil) is the micro contract. It is 1/10 the size of CL: 10 MCL move the same dollars as 1 CL. One MCL tick is worth $1.00.
Should I trade CL or MCL?
Use CL when its size lands inside your risk range, because one standard contract usually costs less in commissions than 10 micros. Use MCL when a single CL would risk more than your maximum, or when you need finer steps. The calculator marks the best fit as “Best pick”.
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