Connect barrels, price and tick value
The NYMEX light sweet crude oil future CL represents 1,000 US barrels, quoted in USD per barrel. A tick of USD 0.01 per barrel equals USD 10 per contract. CL and smaller oil contracts must not use the same accounting multiplier.
Reconcile a synthetic CL trade
A long from 72.00 to 72.18 moves eighteen ticks. One contract produces USD 180 before costs. Assumed round-trip fees of USD 6 reduce that to USD 174. With two identically filled contracts, both gross profit and per-contract fees double.
Record event context with a timestamp
For a scheduled report, record its actual release time and time zone. Compare executions before and after that time within a predefined window. Use the specific release date; a generic weekday filter can miss holiday changes.
Do not treat a contract roll as a trade result
A continuous chart may be adjusted when its underlying contract month changes. That display change is not your realized gain or loss. Reconcile the journal against the month code and fill prices. CL is deliverable, so exchange and broker deadlines also matter.
| Contract | Point value | Tick size | Tick value |
|---|---|---|---|
| CL | 1,000 | 0.01 | 10 |
Sources and methodology
Sources explain concepts or the respective provider’s product descriptions. Worked examples are original and synthetic. Verify current contract specifications before use.