What is the tick value for SI?

$25.00 per tick — a 0.005 tick size × a $5000 multiplier (point value).

What is one SI contract worth?

One contract represents 5,000 troy ounces of silver. Notional value = price × $5000; use the tick value calculator with the current price for an exact figure.

Which exchange lists SI?

Silver (SI) trades on the COMEX.

What are the trading hours for SI?

Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:15pm–6:00pm ET.

How much margin do I need to trade SI?

Margin varies by broker — silver's higher volatility typically means higher margin than gold, per contract.

How is P&L calculated for SI?

P&L = (exit price − entry price) ÷ 0.005 tick size × $25.00 tick value × number of contracts. Use the tick value calculator to compute this directly.

COMEX

Silver (SI) Tick Value & Contract Specs

Tick value $25.00 per tick — 5,000 troy ounces of silver.

Silver futures (SI) are famously the rowdier sibling of gold: one COMEX contract covers 5,000 troy ounces, with a minimum tick of $0.005 per ounce worth $25 per contract. That tick value — double ES's — is the first hint of the contract's character. A one-dollar move in silver is $5,000 per contract, and silver routinely moves in percentage terms two to three times as much as gold.

The combination of industrial demand (solar, electronics) and monetary/safe-haven flows gives silver its dual personality, and the contract's dollar volatility demands genuinely conservative sizing: even a 20-cent adverse move — small by silver's standards — costs $1,000 per contract. Exchange margins are set accordingly, and brokers raise them quickly whenever the metal starts moving. Before trading SI, use the pre-filled tick value calculator below to translate your planned stop distance into dollars per contract; the resulting number is almost always larger than intuition suggests.

Exchange: COMEX
Contract size: 5,000 troy ounces of silver
Tick size: 0.005
Tick value: $25.00
Point value (multiplier): $5000
Trading hours: Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:15pm–6:00pm ET
Margin: Margin varies by broker — silver's higher volatility typically means higher margin than gold, per contract.

Open in the tick value calculator, pre-filled for SI

How SI tick value works

Tick value is the dollar amount one futures contract gains or loses when the price moves one minimum increment (one tick).

tick value = tick size × multiplier. For SI, that is 0.005 × $5000 = $25.00 per tick, per contract.

One contract represents 5,000 troy ounces of silver. P&L for a move from entry to exit is (exit − entry) ÷ tick size × tick value × contracts.

Frequently asked questions

What is the tick value for SI?: $25.00 per tick — a 0.005 tick size × a $5000 multiplier (point value).
What is one SI contract worth?: One contract represents 5,000 troy ounces of silver. Notional value = price × $5000; use the tick value calculator with the current price for an exact figure.
Which exchange lists SI?: Silver (SI) trades on the COMEX.
What are the trading hours for SI?: Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:15pm–6:00pm ET.
How much margin do I need to trade SI?: Margin varies by broker — silver's higher volatility typically means higher margin than gold, per contract.
How is P&L calculated for SI?: P&L = (exit price − entry price) ÷ 0.005 tick size × $25.00 tick value × number of contracts. Use the tick value calculator to compute this directly.

More futures contract specs

See all futures contract specs or use the futures contract & tick value calculator with any symbol or custom specs.

Specs last reviewed 2026-06-01. Exchanges can amend contract specs — always confirm against the exchange or your broker before trading.