Micro Silver Futures (SIL) — Contract Specifications
COMEX · Metals · 1,000 troy ounces vs 5,000 troy ounces for SI
One fifth of the benchmark silver contract, not one tenth — the metals micros are not all sized on the same ratio.
Contract specifications
| Exchange symbol | SIL |
|---|---|
| Exchange | COMEX |
| Contract size | 1,000 troy ounces |
| Minimum tick | $0.005 per troy ounce |
| Value per tick | $5.00 |
| 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 |
| Smaller version of | SI |
What one tick is worth
The minimum price increment is $0.005 per troy ounce. Because the contract covers 1,000 troy ounces, each tick is worth $5.00 per contract. That is the appeal of the smaller size: identical price exposure per tick as SI, at a fraction of the notional.
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 |
|---|---|---|
| Silver SI · COMEX | 5,000 troy ounces | $25.00 |