Micro Silver (1,000 oz) specifications
Commodity Exchange Inc. (COMEX), metals
- Tick
- $50.005 per tick
- One point
- $1,000per contract
- Initial margin
- $4,782.80exchange, as of 27 Oct 2026
- Front contract
- SILZ26roll by 25 Nov 2026
Specs checked as of How we source this
Contract terms
| Symbol | SIL |
|---|---|
| Exchange | Commodity Exchange Inc. (COMEX) |
| Contract unit | 1,000 troy ounces |
| Price quotation | USD per troy ounce |
| Tick size * | 0.005 |
| Tick value * | $5 per contract |
| Value of one point | $1,000 per contract |
| Currency | USD |
| Contract months * | Jan (F), Mar (H), May (K), Jul (N), Sep (U), Dec (Z) |
| Settlement * | Physical delivery |
| Trading hours | CME Globex. Sunday open 17:00 CT, Friday close 16:00 CT, 60-minute daily maintenance break. Hours in your time zone |
| Expiry | Last trade: 3rd last business day of the contract month. First notice: last business day of the month before. Next expiries |
| Exchange specification | https://www.cmegroup.com/markets/metals/precious/1000-oz-silver.contractSpecs.html |
* Not confirmed against the exchange. See below.
Not verified
tick_size: Secondary source (AMP) lists 0.01 = $10.00; value here (0.005 = $5.00) is from prior knowledge. Confirm on the CME spec page.tick_value: See tick_size.settlement: Not cross-checked.contract_months: Active months assumed to match SI; CME lists additional months.
What these terms mean
The Micro Silver (1,000 oz) futures contract (SIL) is listed on Commodity Exchange Inc.. One contract represents 1,000 troy ounces, and prices are quoted in USD per troy ounce. The minimum price movement, or tick, is 0.005, worth $5 per contract. A move of one full point is therefore worth $1,000 per contract, and every profit, loss and margin figure for SIL scales from those two numbers.
SIL is listed for these contract months: Jan (F), Mar (H), May (K), Jul (N), Sep (U), Dec (Z). SIL is physically delivered: holding a position into the delivery period can create an obligation to make or take delivery, which is why speculative traders normally close or roll before the first notice day or last trading day. The rollover page lists the next expiries and the dates that matter for each.
The values on this page come from the exchange's own contract specification and were last checked on 27 Oct 2026. Exchanges amend contract terms from time to time, most often trading hours and tick sizes. Where a value here disagrees with the exchange, the exchange is right; the methodology page explains how each field is checked, and any field we have not confirmed against the exchange is marked on this page.
Related contracts
- Silver (SI): tick value $25
Sources
- https://www.cmegroup.com/markets/metals/precious/1000-oz-silver.contractSpecs.html: primary reference for all contract terms; linked, not machine-read (cmegroup.com blocks automated access) 2026-10-27
- https://www.ampfutures.com/trading-info/contract-specifications: cross-check of tick size, tick value, contract unit and months; secondary source (broker page) 2026-10-27
Questions
- What is the tick size of SIL?
- The minimum price movement of Micro Silver (1,000 oz) futures is 0.005, worth $5 per contract.
- How much is one point of SIL worth?
- One full point is worth $1,000 per contract.
- Is SIL cash-settled or physically delivered?
- SIL is physically delivered.