10-Year T-Note Futures Contract Specifications
ZN · CBOT · one contract = $100,000 face
10-Year T-Note futures (ZN) trade on CBOT in 0.015625-increment ticks worth $15.62 per contract; a full 1.0-point move is $1,000.00. One contract covers $100,000 face.
Specification table
| Name | 10-Year T-Note |
| Exchange | CBOT |
| Ticker symbol | ZN |
| Contract unit | $100,000 face |
| Tick size | 0.015625 |
| Tick value | $15.62 |
| Point value | $1,000.00 |
| CFTC contract code | 043602 |
| COT report families | legacy, tff |
| Quote convention | 1/2 of 1/32 of a point |
Worked tick math
A 10-tick move on 1 10-Year T-Note contract (ZN) is $156.25 — tick size 0.015625 × tick value $15.62. A 1-point move is 64 ticks = $1,000.00. Ten contracts moving 5 ticks = $781.25.
Run your own numbers: 10-Year T-Note futures calculator.
Positioning: large speculators are net short 879,706 contracts as of the 2026-07-21 COT report — full 10-Year T-Note COT data.
FAQ
- What is the tick size and value of 10-Year T-Note futures?
- 10-Year T-Note (ZN, CBOT) moves in 0.015625 increments worth $15.62 per contract.
- What does one ZN contract cover?
- One contract covers $100,000 face.
- How much is a full point on ZN?
- $1,000.00 — tick value ÷ tick size.
Related
10-Year T-Note COT report
10-Year T-Note calculator
10-Year T-Note COT history (CSV)
All contract specs
All calculators
Specs verified against exchange sources 2026-07-25; the exchange's own contract page is always authoritative. Not investment advice.