What is the tick value for SIL?

$5.00 per tick — a 0.005 tick size × a $1000 multiplier (point value).

What is one SIL contract worth?

One contract represents 1,000 troy ounces of silver. Notional value = price × $1000; use the tick value calculator with the current price for an exact figure.

Which exchange lists SIL?

Micro Silver (SIL) trades on the COMEX.

What are the trading hours for SIL?

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

How much margin do I need to trade SIL?

Margin varies by broker and is roughly one-fifth of full-size SI, matching the contract-size ratio rather than the tenth-size ratio used by the equity micros.

What are the SIL contract months?

SIL lists January, March, May, July, September, October, November and December. The nearest months list serially; further out only the March, May, July, September and December cycle is listed.

What does SILZ2026 mean?

It is one specific SIL contract: the root SIL, the delivery-month code Z, and the year. Z is December, so SILZ2026 is the December 2026 contract. The codes run F G H J K M N Q U V X Z for January through December — I and L are skipped because they read as 1 and 7 on a ticker.

What is SIL00, SIL1! or /SIL?

All three name the same thing: the continuous front-month SIL contract, written differently by different platforms. Barchart uses SIL00, TradingView SIL1!, thinkorswim and tastytrade /SIL, Yahoo Finance SIL=F, and SIL on social media is usually written $SIL. None of them is a separate instrument — each stitches together whichever dated contract is currently the front month.

How is P&L calculated for SIL?

P&L = (exit price − entry price) ÷ 0.005 tick size × $5.00 tick value × number of contracts. Use the tick value calculator to compute this directly.

COMEX

Micro Silver (SIL) Tick Value & Contract Specs

Tick value $5.00 per tick — 1,000 troy ounces of silver.

Micro Silver futures (SIL) hold 1,000 troy ounces against full-size SI's 5,000 — a fifth, not the tenth that every other micro on this site uses. Getting that ratio wrong is the single most common sizing error in the contract. The tick is $0.005 per ounce, worth $5.00 per contract, and a ten-cent move in silver is $100. Full-size SI moves $500 on the same ten cents.

That one-fifth ratio exists because SI is already an unusually large contract for retail accounts: 5,000 ounces means a one-dollar move is $5,000, and silver can cover a dollar in an afternoon. SIL keeps silver's character — the same overnight gaps, the same tendency to overshoot gold in both directions because industrial demand sits on top of the monetary bid — while cutting the dollar consequence to something a smaller account can carry through a normal range. It is the honest way to trade silver without four-figure daily swings. The calculator below is pre-filled with SIL's specs; do not derive them by dividing SI's by ten.

Exchange: COMEX
Contract size: 1,000 troy ounces of silver
Tick size: 0.005
Tick value: $5.00
Point value (multiplier): $1000
Trading hours: Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET
Margin: Margin varies by broker and is roughly one-fifth of full-size SI, matching the contract-size ratio rather than the tenth-size ratio used by the equity micros.

Open in the tick value calculator, pre-filled for SIL View the live SIL chart on TradingView

How SIL 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 SIL, that is 0.005 × $1000 = $5.00 per tick, per contract.

One contract represents 1,000 troy ounces of silver. P&L for a move from entry to exit is (exit − entry) ÷ tick size × tick value × contracts.

SIL contract months and ticker symbols

A futures ticker is three parts: the root, a one-letter delivery month, and the year. SILZ2026 is the December 2026 SIL contract. The month letters skip I and L, which would read as 1 and 7 on a ticker.

Delivery month codes, with the months SIL lists marked
Code	Month	Listed for SIL?
F	January	Yes — SILF
G	February	No
H	March	Yes — SILH
J	April	No
K	May	Yes — SILK
M	June	No
N	July	Yes — SILN
Q	August	No
U	September	Yes — SILU
V	October	Yes — SILV
X	November	Yes — SILX
Z	December	Yes — SILZ

The nearest months list serially; further out only the March, May, July, September and December cycle is listed.

Which SIL contract am I looking at?

Most charts default to the continuous front-month series rather than a dated contract — one stitched-together chart that rolls to the next month as the current one nears expiry. Every platform spells it differently, which is why the same contract appears under so many names.

Written as	Platform	Meaning
SIL1!	TradingView	Continuous front-month contract. "2!" is the next one out, and a dated contract is written in full, e.g. SILZ2026.
SIL00	Barchart	Continuous front-month series. "SILZ26" style codes name a specific month and year instead.
SILc1	Refinitiv / Reuters	Continuous front month; c2 is the second month out.
/SIL	thinkorswim, tastytrade	The leading slash marks it as a future rather than a stock. A specific month is /SILZ26.
SIL=F	Yahoo Finance	The "=F" suffix denotes the front-month futures series.
$SIL	StockTwits, social	A cashtag, not an exchange symbol. It usually means the front month, but it is informal and ambiguous.

A dated code such as SILZ26 always means one specific contract; the continuous forms never do. Check which you are quoting before comparing a price to someone else’s — around a roll they differ.

Frequently asked questions

What is the tick value for SIL?: $5.00 per tick — a 0.005 tick size × a $1000 multiplier (point value).
What is one SIL contract worth?: One contract represents 1,000 troy ounces of silver. Notional value = price × $1000; use the tick value calculator with the current price for an exact figure.
Which exchange lists SIL?: Micro Silver (SIL) trades on the COMEX.
What are the trading hours for SIL?: Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET.
How much margin do I need to trade SIL?: Margin varies by broker and is roughly one-fifth of full-size SI, matching the contract-size ratio rather than the tenth-size ratio used by the equity micros.
What are the SIL contract months?: SIL lists January, March, May, July, September, October, November and December. The nearest months list serially; further out only the March, May, July, September and December cycle is listed.
What does SILZ2026 mean?: It is one specific SIL contract: the root SIL, the delivery-month code Z, and the year. Z is December, so SILZ2026 is the December 2026 contract. The codes run F G H J K M N Q U V X Z for January through December — I and L are skipped because they read as 1 and 7 on a ticker.
What is SIL00, SIL1! or /SIL?: All three name the same thing: the continuous front-month SIL contract, written differently by different platforms. Barchart uses SIL00, TradingView SIL1!, thinkorswim and tastytrade /SIL, Yahoo Finance SIL=F, and SIL on social media is usually written $SIL. None of them is a separate instrument — each stitches together whichever dated contract is currently the front month.
How is P&L calculated for SIL?: P&L = (exit price − entry price) ÷ 0.005 tick size × $5.00 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 2026-09-15. Exchanges can amend contract specs — always confirm against the exchange or your broker before trading.