Silver Futures Tick Value (SI), Point Value & Contract Specs
One SI (Silver) tick is $0.005 per troy ounce and is worth $25.00 per contract. A 1.00 move in the price is worth $5,000. Source: CME Group contract specs.
SI contract specs
| Product | Silver Futures |
|---|---|
| Symbol (CME Globex) | SI |
| Exchange | COMEX (rulebook chapter COMEX 112) |
| Contract unit | 5,000 troy ounces |
| Price quoted in | USD per troy ounce |
| Tick size (outright) | $0.005 per troy ounce |
| Tick value | $25.00 per contract |
| Point value (1.00 move) | $5,000 per contract |
| Ticks per 1.00 move | 200 |
| Settlement | Physical delivery |
| Listed contracts | Monthly contracts listed for 26 consecutive months and any Jul and Dec in the nearest 60 months. Month codes: F G H J K M N Q U V X Z |
| Next expiry | SIZ6 (Dec 2026): suggested roll Wed, Nov 25, 2026, last trading day Tue, Dec 29, 2026. Rollover calendar |
| Trading hours | CME Globex: Sunday–Friday 5:00 p.m. – 4:00 p.m. CT (6:00 p.m. – 5:00 p.m. ET), with a daily break 4:00 p.m. – 5:00 p.m. CT. Trading hours today and holidays |
| Micro contract | SIL (Micro Silver): SI = 5 × SIL. Micro Silver is 1,000 oz against 5,000 oz: 5 SIL equal 1 SI, not 10. |
Sources: CME Group contract specs (read October 23, 2026) · Barchart contract profile (cross-check) (read October 23, 2026). Tick size, tick value and contract size come from the CME Group spec page. A second source, read the same day, confirms them: Barchart's contract profile (tick size and tick value) or, for MYM, M2K, MCL and M6E, TradingView (contract size).
How much is 1 SI contract?
Type the current price. The default is an example level, not a quote.
Notional value: $250,000$50.00 × $5,000 × 1 contract
Notional value is the size of the exposure, not the cash you need. Your broker asks for a margin, set by the broker and CME.
About SI
SI is 5,000 troy ounces of silver, quoted in US dollars per ounce with a half-cent tick worth $25.
Silver is a precious and an industrial metal: it reacts to the same rate and dollar news as gold, and to industrial demand.
It is physically delivered from COMEX-approved depositories; trading concentrates in March, May, July, September and December.
MFFU Rapid 50K rules also say: “metals micros capped at 5 on 50K since 17 Apr; SI, HG, PL, NG, QG restricted since 7 Feb”. Size a trade within a plan's limits with the futures position size calculator.
What one SI move is worth
Worked examples with an example move (not a quote):
- A $0.25 move on 1 SI = 50 ticks × $25.00 = $1,250.00.
- A $0.25 move on 2 SI = $2,500.00.
- 1 tick on 10 SI = 10 × $25.00 = $250.00.
- The same $0.25 move on 1 SIL = $250.00.
SI and SIL
SIL is the micro version of SI. SI = 5 × SIL: SIL ticks are worth $5.00 and a 1.00 move is $1,000. Micro Silver is 1,000 oz against 5,000 oz: 5 SIL equal 1 SI, not 10.
Micros let you size in smaller steps: a stop of the same distance costs a fraction as much. See micro vs mini futures to convert a position from one to the other.
SI futures calculator
Trade
Contract: SI (Silver). Other contracts
1 tick = 0.005 = $25.00 · 1.00 move = $5,000
Commission per contract, per side (entry and exit are each charged). Add exchange and clearing fees if your broker lists them separately.
Profit and loss
+50 ticks × $25.00 × 1 contract = $1,250.00 gross
$1,250.00 − $0.00 commission = $1,250.00 net
Notional value at entry (example price, not a quote): $250,000 (50.000 × $5,000 × 1 contract).
You know what one SI tick pays. Does your strategy catch them?
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SI FAQ
How much is 1 SI contract worth?
Its notional value is the price times $5,000. At an example price of $50.00, 1 SI controls $250,000. Type the current price in the notional value box on this page for today's figure. The margin your broker asks to hold the contract is a different, much smaller number set by the broker and CME.
What is the SI tick value?
One SI tick is $0.005 per troy ounce and is worth $25.00 per contract (CME Group contract specs). A 1.00 move in the price is worth $5,000.
How many ticks are in a point on SI?
200. A tick is $0.005, so a 1.00 move is 200 ticks × $25.00 = $5,000.
How many SIL make one SI?
5 SIL carry the same exposure as 1 SI: 5 × $1,000 = $5,000 per 1.00 move. Micro Silver is 1,000 oz against 5,000 oz: 5 SIL equal 1 SI, not 10. A $0.25 move is worth $1,250.00 on 1 SI and $250.00 on 1 SIL.
Is SI cash-settled?
No. SI is settled by physical delivery ("deliverable" in the CME specs): a position held through expiry ends in delivery of the underlying.
Which months does SI trade?
Monthly contracts listed for 26 consecutive months and any Jul and Dec in the nearest 60 months (CME Group). Month codes: F, G, H, J, K, M, N, Q, U, V, X, Z.