Nasdaq in three flavors.
Convert prices and contract value between the three Nasdaq 100 instruments.
INPUTS
ENTER ONE
Cash Nasdaq 100 index level (e.g. 18,000.00).
Defaults to 0.025. The actual ratio drifts down over the year from dividends + the ETF's expense ratio — adjust to whatever your broker is currently quoting.
How many NQ contracts to size total exposure for.
TRY ONE
RESULT
NDX index18,000.00
NQ future18,000.00
QQQ ETF$450.00
1 NQ contract value$360,000
Total exposure (1)$360,000
1 NDX pt = NQ$20
1 NDX pt = QQQ$0.0250
1% index move180.00 pts
HOW IT WORKS
The Nasdaq 100 cousin of the S&P trio. NDX is the cash index — calculation-only, no direct trading. NQ is the e-mini future at $20 per point — same structure as ES but with a smaller multiplier, so one NQ at NDX 18,000 is about $360,000 of notional. QQQ is the ETF — roughly 1/40 of NDX (a default ratio of 0.025) with a 0.20% expense ratio and a quarterly dividend, both of which pull the ratio slightly below the clean number as the year progresses. Type any one of the three and the other two fall out at whatever ratio you specify.
FAQ
What's the QQQ-to-NDX ratio?
QQQ tracks roughly NDX × 0.025 — about 1/40 of the index — with the same drift dynamics as SPY/SPX: a 0.20% expense ratio plus quarterly dividend payouts pull it slightly below the clean ratio over time.
How big is one NQ contract?
NQ is a $20-per-point Nasdaq 100 future. At NDX 18,000 one contract is $360,000 of notional. MNQ (Micro) is 1/10 the size at $2 per point.
Is NQ a copy of ES for the Nasdaq?
Same structure, different specs. ES = $50/point on SPX; NQ = $20/point on NDX. The tick sizes also differ (0.25 for ES, 0.25 for NQ). Both have Micro versions for sub-institutional sizing.
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