Silver Futures (SI) — Contract Specifications
COMEX · Metals
A large contract relative to the metal's price — 5,000 ounces makes silver's tick value higher than gold's despite the far lower price per ounce.
Contract specifications
| Exchange symbol | SI |
|---|---|
| Exchange | COMEX |
| Contract size | 5,000 troy ounces |
| Minimum tick | $0.005 per troy ounce |
| Value per tick | $25.00 |
| Contract months | Mar, May, Jul, Sep, DecMonth codes: H, K, N, U, Z |
| Settlement | Physical delivery |
| Trading hours | Sun–Fri 18:00–17:00 ET, 60-minute break each day at 17:00 ET |
What one tick is worth
The minimum price increment is $0.005 per troy ounce. Because the contract covers 5,000 troy ounces, each tick is worth $25.00 per contract.
This contract is physically delivered. Holding it past first notice day starts the delivery process, so traders without a use for the underlying normally close or roll well before then — see how rollover works.
Other contracts on this market
| Contract | Size | Per tick |
|---|---|---|
| Micro Silver SIL · COMEX | 1,000 troy ounces | $5.00 |
| Gold GC · COMEX | 100 troy ounces | $10.00 |