The Unit Move Table is unique and one of a kind. It was created by Master Trader Joe Ross to fill a gap in the information available for the value of a full-point move and a minimum tick fluctuation.
Grains (CME Group All Products)
| Contract |
Electronic Exchange Symbols * |
Exchange | Unit Move | Unit Move Series | Minimum Fluctuation | Minimum Fluctuation Series |
|---|---|---|---|---|---|---|
| Bean Meal | ZM | CBOT on Globex | $100 | 168,169,170,171 | .1 um = 10 |
168.0 168.1 168.2 ... 168.9 169.0 |
| Bean Oil | ZL | CBOT on Globex | $600 |
23, 24, 25, 26 |
.01 um = 6 |
26.40 26.41 26.42 ... 26.49 27.0 |
| Corn | ZC | CBOT on Globex | $50 |
252, 253, 254, 255 |
1/4 um = $12.50 |
248 248 1/4 248 1/2 248 3/4 249 |
| Soybeans | ZS | CBOT on Globex | $50 |
628, 629, 630, 631 |
1/4 um = $12.50 |
628 628 1/4 628 1/2 628 3/4 629 |
| Wheat (KC) | KE | CBOT on Globex | $50 |
412, 413, 414, 415 |
1/4 um = $12.50 |
412 412 1/4 412 1/2 412 3/4 413 |
| Wheat (CBT) | ZW | CBOT on Globex | $50 |
412,413, 414, 415 |
1/4 um = $12.50 |
412 412 1/4 412 1/2 412 3/4 413 |
Metals (CME Group All Products)
| Contract | Electronic Exchange Symbols * | Exchange | Unit Move | Unit Move Series | Minimum Fuctuation | Minimum Fluctuation Series |
|---|---|---|---|---|---|---|
| Gold | GC | Comex on Globex | $100 |
636, 637, 638, 639 |
.1 um = $10 | 636.0 636.1 636.2 ... 636.9 637.0 |
| Copper | HD | Comex on Globex | $250 |
357, 358, 359, 360 |
.05 um = $12.50 | 357.30 357.35 357.40 357.45 357.50 |
| Palladium | PA | Comex on Globex | $100 |
321, 322, 323, 324 |
.05 um = $5 | 321.60 321.65 321.70 321.75 321.80 |
| Platinum | PL | Comex on Globex | $50 | 1234, 1235, 1236, 1237 | .1 um = $5 | 1234.0 1234.1 ... 1234.9 1235.0 |
| Silver | SI | Comex on Globex | $50 | 11.18,11.19,12.00,12.01 | .001 um = $5 | 11.180 11.181 11.182 ... 11.189 11.190 |
Currencies (CME Group All Products)
| Contract | Electronic Exchange Symbols * | Exchange | Unit Move | Unit Move Series | Minimum Fluctuation | Minimum Flucuation Series |
|---|---|---|---|---|---|---|
| Australian Dollar | 6A |
CME on Globex |
$1000 | .7400 .7500 .7600 .7700 | .0001 um = $10 | .7400 .7401 .7402 ... .7409 .7500 |
| British Pound | 6B |
CME on Globex |
$625 | 1.82 1.83 1.84 1.85 | .0001 um = $6.25 | 1.8210 1.8211 1.8212 ... 1.8219 1.2820 |
| Canadian Dollar | 6D |
CME on Globex |
$1000 | .8800 .8900 .9000 .9100 | .0001 um = $10 | .8840 .8841 .8842 ... 8849 .8850 |
| Dollar Index | DX |
NYBOT on Globex |
$1000 | 84 85 86 87 | .01 um = $10 | 84.70 84.71 84.72 ... 84.79 84.70 |
| Euro FX | 6E |
CME on Globex |
$1250 | 1.27 1.28 1.29 1.30 | .0001 um = $12.50 | 1.2730 1.2731 1.2732 1.2739 1.2740 |
| Japanese Yen | 6J |
CME on Globex |
$1250 | .85 .86 .87 .88 | .0001 um = $12.50 | .8650 .8651 .8652 ... .8659 .8660 |
| Mexican Peso | 6M |
CME on Globex |
$500 | .090 .091 .092. 093 | .000025 um = $12.50 | .090400 .090425 .090450 .090475 .090500 |
| Swiss Franc | 6S |
CME on Globex |
$1250 | .81 .82 .83 .84 | .0001 um = $12.50 | .8130 .8131.8132 .8139 .8140 |
* Please note: the symbol on your trading platform or charting software might be different!
Financials (CME Group All Products)
| Contract | Electronic Exchange Symbols * | Exchange | Unit Move | Unit Move Series | Minimum Fluctuation | Minimum Fluctuation Series |
|---|---|---|---|---|---|---|
|
Eurodollars |
GE | CME on Globex | $2500 | 94 95 96 97 | .005 um = $12.50 | 94.520 94.525 94.530 94.535 94.540 |
| T-Bonds | ZB | CBOT on Globex | $1000 | 106 107 108 109 | 1/32 um = $31.50 | 107 107 1/32 107 2/32 ... 107 31/32 108 |
| T-Notes | ZN | CBOT on Globex | $1000 | 104 105 106 107 | 1/32 um = $31.50 | 104 104 1/32 104 2/32 ... 104 31/32 105 |
* Please note: the symbol on your trading platform or charting software might be different!
Energies (CME Group All Products)
| Contract | Electronic Exchange Symbols * | Exchange | Unit Move | Unit Move Series | Minimum Fluctuation | Minimum Fluctuation Series |
|---|---|---|---|---|---|---|
| Crude Oil | CL | NYMEX on Globex | $1000 | 77 78 79 80 | .01 um = $10 | 77.00 77.01 77.02 ... 77.09 77.10 |
| Heating Oil | HO | NYMEX on Globex | $420 | 2.14 2.15 2.16 2.17 | .0001 = $4.20 | 2.1450 2.1451 2.1452 ... 2.1459 2.1460 |
| Natural Gas | NG | NYMEX on Globex | $10000 | 5 6 7 8 9 | .001 = $10 | 5.340 5.341 5.342 ...5.349 5.350 |
| RBOB Gasoline | RB | NYMEX on Globex | $420 | 2.14 2.15 2.16 2.17 | .0001 = $4.20 | 2.1450 2.1451 2.1452 ... 2.1459 2.1460 |
* Please note: the symbol on your trading platform or charting software might be different!
Foods/Softs (ICE All Products)
| Contract | Electronic Exchange Symbols * | Exchange | Unit Move | Unit Move Series | Minimum Fluctuation | Minimum Fluctuation Series |
|---|---|---|---|---|---|---|
| Cocoa | CC | ICE US | $10 | 1497 1497 1499 1500 | 1 um = $10 | 1497 1497 1499 1500 |
| Coffee | KC | ICE US | $375 | 97 98 99 100 | .05 um = $18.75 | 97.20 97.25 97.30 97.35 |
| Cotton | CT | ICE US | $500 | 57 58 59 60 | .01 um = $5 | 57.60 57.61 57.62 ... 57.69 57.70 |
| Orange Juice | JO | ICE US | $150 | 156 157 158 159 | .05 um = $7.50 | 156.80 156.85 156.90 156.95 157.00 |
| Sugar | SB | ICE US | $1120 | 14 15 16 17 | .01 um = $11.20 | 15.80 15.81 15.82 ... 15.89 15.90 |
* Please note: the symbol on your trading platform or charting software might be different!
Meats (CME Group All Products)
| Contract | Electronic Exchange Symbols * | Exchange | Unit Move | Unit Move Series | Minimum Fluctuation | Minimum Fluctuation Series |
|---|---|---|---|---|---|---|
| Feeder Cattle | GF | CME on Globex | $500 | 112 113 114 115 | .025 um = $12.50 | 114.100 114.125 114.150 114.175 114.200 |
| Lean Hogs | HE | CME on Globex | $400 | 67 68 69 70 | .025 um = $10 | 58.600 58.625 58.650 58.675 58.700 |
| Live Cattle | LE | CME on Globex | $400 | 82 83 84 85 | .025 um = $10 | 86.300 86.325 86.350 86.375 86.400 |
* Please note: the symbol on your trading platform or charting software might be different!
24 Hour Mini Markets (CME Group All Products)
| Contract | Electronic Exchange Symbols * | Exchange | Unit Move | Unit Move Series | Minimum Fluctuation | Minimum Fluctuation Series |
|---|---|---|---|---|---|---|
| E-mini NASDAQ 100 | NQ | CME on Globex | $20 | 1519 1520 1521 1522 | .25 um = $5 | 1591.00 1591.25 1591.50 1591.75 1592.00 |
| E-mini Russell 2000 | TF | ICE US | $100 | 705 706 707 708 | .1 um = $10 | 705.0 705.1 705.2 ... 705.9 706.0 |
| E-mini S&P 500 | ES | CME on Globex | $50 | 1245 1246 1247 1248 | .25 um = $12.50 | 1245.00 1245.25 1245.50 1245.75 1246.00 |
| E-mini Dow | YM | CBOT on Globex | $4 | 11052 11053 11054 11055 | 1 um = $5 | 11052 11053 11054 11055 |
* Please note: the symbol on your trading platform or charting software might be different!
Mini Contracts (CME Group All Products)
| Contract | Electronic Exchange Symbols * | Exchange | Unit Move | Unit Move Series | Minimum Fluctuation | Minimum Fluctuation Series |
|---|---|---|---|---|---|---|
| Mini Natural Gas | QG | NYMEX on Globex | $2500 | 5 6 7 8 9 | .5 um = $12.50 | 7.500 7.505 7.510 7.515 7.520 7.525 |
| Mini Crude Oil | QM | NYMEX on Globex | $500 | 100 101 102 103 | .025 um = $12.50 | 100.000 100.025 100.050 100.075 100.100 100.125 |
| Mini Corn | XC | CBOT on Globex | $10 | 252 253 254 255 | 1/4 um = $2.50 | 248 248 1/4 248 1/2 248 3/4 249 |
| Gold | YG | ICE US | $33.2 | 636 637 638 639 | .1 um = $3.32 | 636.0 636.1 636.2 ... 636.9 637.0 |
| Silver | YI | ICE US | $10 | 11.18 11.19 12.00 12.01 | .001 um = $1 | 11.180 11.181 11.182 ... 11.189 11.190 |
| Mini Soybeans | XK | CBOT on Globex | $10 | 628 629 630 631 | 1/4 um = $2.50 | 628 628 1/4 628 1/2 628 3/4 629 |
| Mini Wheat | XW | CBOT on Globex | $10 | 412 413 414 415 | 1/4 um = $2.50 | 412 412 1/4 412 1/2 412 3/4 413 |
* Please note: the symbol on your trading platform or charting software might be different!
Unit Move and Minimum Fluctuation - Help Information
Traders have an intuitive feel for these terms, but precise definitions are scarce. Most traders know that Corn moves as 252, 253, 254, 255, with the difference between the numbers being worth $50, or that Lean Hogs move as 67, 68, 69, 70, with the difference between the numbers being worth $400 or that Bonds move in $1000 increments.
However, it is not always so obvious. Currencies and energy commodities have their major incremental move in the decimal part of the price. The minimum fluctuation is also confusing, as it's either not given, or given in ticks or other units. In some cases, multiple ticks make up one minimum fluctuation!
Knowledge of the unit move and the minimum fluctuation is essential in trading. They are needed to know the value of a move on a chart, to give trading orders with the correct price, to determine profit and loss and to determine profit and stop objectives.
At Trading Educators we define the term "Unit Move" as being a full-point move in the underlying futures.
Among the units commonly used for ticks are pt, ct, oz, c/bu, thpt, nd (1/32), index pt and ct/lb/cts/ton. What these units mean when looking at a chart or price quote is hard to know. Because of this, and since multiple ticks can make up a minimum fluctuation, ticks are not used in the Unit Move Table.
Instead of ticks or the many different units used in the exchanges' contract specifications, only one unit will be used, we call it "unit move." It is given the symbol "um". The minimum fluctuation is defined as a fraction the um.
These definitions are illustrated with two commodities: Corn and Hogs. Corn uses a fractional minimum fluctuation, Hogs uses a decimal. Here are examples of both price series, showing the unit move and the minimum fluctuation at work.
UNIT MOVE FOR CORN
265
<-------- um of $50
266
<-------- um of $50
267
<-------- um of $50
268
MINIMUM FLUCTUATION FOR CORN
265
<-------- min. fluctuation of 1/4 um = $12.50
265 1/4
<-------- min. fluctuation of 1/4 um = $12.50
265 1/2
<-------- min. fluctuation of 1/4 um = $12.50
265 3/4
<-------- min. fluctuation of 1/4 um = $12.50
266
UNIT MOVE FOR HOGS
67
<-------- um of $400
68
<-------- um of $400
69
<-------- um of $400
70
MINIMUM FLUCTUATION FOR HOGS
67.300
<-------- min. fluctuation of .025 um = $10
67.325
<-------- min. fluctuation of .025 um = $10
67.350
<-------- min. fluctuation of .025 um = $10
67.375
<-------- min. fluctuation of .025 um = $10
67.400
Here is how this information looks in the Unit Move Table:
| Contract | Electronic & Floor Symbols |
Exchange | Unit Move | Unit Move Series | Minimum Fluctuation | Minimum Fluctuation Series |
|---|---|---|---|---|---|---|
| Corn | C | CBOT | $50 | 265,266,267,268 | 1/4 um=$12.50 | 265, 265 1/4, 265 1/2, 265 3/4, 266 |
| Hogs | LH | CME | $400 | 67,68,69,70 | .025 um = $10 | 67.300, 67.325, 67.350, 67.375, 67.400 |
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