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Futures points to ETF move: ES to SPY and NQ to QQQ

A 25-point ES move is not a 25-dollar SPY move. This calculator converts futures points into the approximate SPY or QQQ dollar move using a ratio you can adjust.

How to use it

  1. Enter the ES move in points and its points-per-SPY-dollar ratio (about 10).
  2. Enter the NQ move in points and its points-per-QQQ-dollar ratio (about 41).
  3. Read the approximate SPY and QQQ dollar moves.
ETF move ≈ futures points ÷ points-per-ETF-dollar
Example. ES +25 points ÷ 10 ≈ SPY +2.50. NQ +100 points ÷ 41 ≈ QQQ +2.44.

About this calculator

ES points divide by about 10 and NQ points by about 41 to approximate SPY and QQQ dollars, because SPY is priced near a tenth of the S&P 500 index and QQQ near a fortieth of the Nasdaq-100. The ratios drift with basis, dividends, index composition and timing, so neither result is a price target or a quote.

Frequently asked questions

How do I convert ES points to SPY dollars?
Divide the ES points by roughly 10. A 25-point ES move is about a $2.50 SPY move.
How do I convert NQ points to QQQ dollars?
Divide the NQ points by roughly 41 (the ratio moves with the index and ETF price). A 100-point NQ move is about $2.44 on QQQ.
Why not use exactly 10 and 41?
The exact relationship changes over time with futures basis, dividends and ETF price, so use the ratio as an approximation.

Translating futures moves into SPY or QQQ?

See SPY premarket levels: structure, key levels and catalysts in futures and SPY/QQQ terms, before the 9:30 ET open.

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ES vs SPYNQ vs QQQ
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Informational calculator for reference only. Outputs are arithmetic, not quotes, recommendations or trade signals. LiquidityLevels provides educational market commentary, not financial advice.