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M is the total size of the prebet pot (SB + BB + Ante) divided by your stack size. This gives you a relative position to the rest of the people at your table as well as a realistic count of the number of hands you have before the blinds cripple you. Its basically a measure of tournament health.

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OK. And Q...??

//M

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BTW, he's wrong. M is your stack size divided by (blinds+antes). Not the other way around. Q is your stack divided by the average stack. It gives you an idea of your standing relative to the rest of the table.

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Yes - my bad. I wrote out my division wrong.