SIL Tick Value, Point Value & Contract Specs
One SIL (Micro Silver) tick is $0.005 per troy ounce and is worth $5.00 per contract. A 1.00 move in the price is worth $1,000. Source: CME Group contract specs.
SIL contract specs
| Product | Micro Silver Futures |
|---|---|
| Symbol (CME Globex) | SIL |
| Exchange | COMEX (rulebook chapter COMEX 121) |
| Contract unit | 1,000 troy ounces |
| Price quoted in | USD per troy ounce |
| Tick size (outright) | $0.005 per troy ounce |
| Tick value | $5.00 per contract |
| Point value (1.00 move) | $1,000 per contract |
| Ticks per 1.00 move | 200 |
| Settlement | Physical delivery |
| Listed contracts | Monthly contracts listed for 3 consecutive months and any Jan, Mar, May, July, Sep and Dec within the nearest 12 months. Month codes: F G H J K M N Q U V X Z |
| Next expiry | SILZ6 (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 |
| Larger contract | SI (Silver): SIL = 1/5 of SI. 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 SIL contract?
Type the current price. The default is an example level, not a quote.
Notional value: $50,000$50.00 × $1,000 × 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 SIL
SIL is 1,000 troy ounces of silver: one fifth of SI, not one tenth like the other micros here.
CME cut its tick from $0.010 to $0.005 in 2020, so one tick is now $5.
Like SI it is physically delivered, so a long position should be closed or rolled before first notice day.
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 SIL move is worth
Worked examples with an example move (not a quote):
- A $0.25 move on 1 SIL = 50 ticks × $5.00 = $250.00.
- A $0.25 move on 2 SIL = $500.00.
- 1 tick on 10 SIL = 10 × $5.00 = $50.00.
- The same $0.25 move on 1 SI = $1,250.00.
SIL and SI
SIL is the micro version of SI. SIL = 1/5 of SI: SI ticks are worth $25.00 and a 1.00 move is $5,000. 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.
SIL futures calculator
Trade
Contract: SIL (Micro Silver). Other contracts
1 tick = 0.005 = $5.00 · 1.00 move = $1,000
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 × $5.00 × 1 contract = $250.00 gross
$250.00 − $0.00 commission = $250.00 net
Notional value at entry (example price, not a quote): $50,000 (50.000 × $1,000 × 1 contract).
You know what one SIL tick pays. Does your strategy catch them?
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SIL FAQ
How much is 1 SIL contract worth?
Its notional value is the price times $1,000. At an example price of $50.00, 1 SIL controls $50,000. 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 SIL tick value?
One SIL tick is $0.005 per troy ounce and is worth $5.00 per contract (CME Group contract specs). A 1.00 move in the price is worth $1,000.
How many ticks are in a point on SIL?
200. A tick is $0.005, so a 1.00 move is 200 ticks × $5.00 = $1,000.
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 SIL cash-settled?
No. SIL is settled by physical delivery ("deliverable" in the CME specs): a position held through expiry ends in delivery of the underlying.
Which months does SIL trade?
Monthly contracts listed for 3 consecutive months and any Jan, Mar, May, July, Sep and Dec within the nearest 12 months (CME Group). Month codes: F, G, H, J, K, M, N, Q, U, V, X, Z.