What one MCL contract is worth
The Micro Crude Oil trades on NYMEX in increments of 0.01. Because its point multiplier is $100.00, one tick is worth $1.00 and a full point is worth $100.00 — per contract, in both directions. Multiply by your contract count for the position.
The number that catches people out is notional value: price × $100.00, which is the exposure one contract actually carries, not the margin you posted to open it. Change the price above to see it for the level you're trading.
MCL vs CL
MCL is the micro version of CL (Crude Oil), at one tenth the size — $100.00 per point against $1,000.00. Same index, same hours, same tick size; 10× less money per tick.
What an MCL round turn costs
We publish exchange, clearing and NFA rates only where we've verified them against a real broker cash ledger, and MCL isn't one of them yet — so the calculator says so rather than showing $0.00. That distinction matters: treating an unverified rate as zero is exactly how a futures account can look profitable on paper and shrink in reality. ExpectancyIQ can derive your own rates from your broker's Cash History export at import time.
Sizing an MCL position
Contract value is only half the question. How many MCL contracts you should trade depends on your account size and stop distance — the position size calculator works that out, and the expectancy calculator tells you whether the resulting trades pay over time.