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Unit Move Table

 

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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