SI Tick Value Calculator – Silver Futures
Silver futures (SI) on COMEX: 5,000 troy ounces per contract, one tick = $0.005 per troy ounce = $25.00. Pre-set for SI: work out profit and loss in ticks and dollars, or how many contracts fit your risk.
1 tick = 0.005 = $25.00. 1 point = $5,000.
Optional. Per contract, round turn, with exchange fees.
Contract specs: SI, 5,000 troy ounces
- Exchange
- COMEX (CME Group), settled in USD
- Contract unit
- 5,000 troy ounces
- Tick size
- 0.005
- Tick value
- $25.00 per contract
- Point value
- $5,000 per 1.0 move (200 ticks)
- Micro
- 5 SIL = 1 SI
Outright minimum tick from CME Group's contract specifications, checked October 2026. Spread trades use smaller ticks. Your broker or prop firm adds its own commission and fees.
Profit
+$10,000.00
Example prices. Enter your own entry and exit.
Points
+1.00
in your favour
Ticks
+200
0.005 per tick
Per contract
+$5,000.00
before commission
Notional value
$300,000.00
at entry, 2 SI
Tick value
$50.00
2 × $25.00
Point value
$10,000
per 1.0 move, 2 SI
Show the math
- Points
31.000 − 30.000 = 1.00 - Ticks = points ÷ tick size
1.00 ÷ 0.005 = 200 - Point value = tick value ÷ tick size
$25.00 ÷ 0.005 = $5,000 - P&L = ticks × tick value × contracts
200 × $25.00 × 2 = +$10,000.00 - Notional value = entry × point value × contracts
30.000 × $5,000 × 2 = $300,000.00
Quick answer
One SI tick is $0.005 per troy ounce and is worth $25.00 per contract; a $1.00 move (one full point, 200 ticks) is $5,000. 5 SIL = 1 SI, so one SIL tick is worth $5.00.
SI tick value table
| Ticks | Price move | 1 contract | 2 contracts | 5 contracts | 10 contracts |
|---|---|---|---|---|---|
| 1 | $0.005 | ±$25.00 | ±$50.00 | ±$125.00 | ±$250.00 |
| 4 | $0.02 | ±$100.00 | ±$200.00 | ±$500.00 | ±$1,000 |
| 10 | $0.05 | ±$250.00 | ±$500.00 | ±$1,250 | ±$2,500 |
| 20 | $0.10 | ±$500.00 | ±$1,000 | ±$2,500 | ±$5,000 |
| 50 | $0.25 | ±$1,250 | ±$2,500 | ±$6,250 | ±$12,500 |
| 100 | $0.50 | ±$2,500 | ±$5,000 | ±$12,500 | ±$25,000 |
SI price move table
| Price move | Ticks | 1 contract | 2 contracts | 5 contracts | 10 contracts |
|---|---|---|---|---|---|
| $0.05 | 10 | ±$250.00 | ±$500.00 | ±$1,250 | ±$2,500 |
| $0.10 | 20 | ±$500.00 | ±$1,000 | ±$2,500 | ±$5,000 |
| $0.25 | 50 | ±$1,250 | ±$2,500 | ±$6,250 | ±$12,500 |
| $0.50 | 100 | ±$2,500 | ±$5,000 | ±$12,500 | ±$25,000 |
| $1.00 | 200 | ±$5,000 | ±$10,000 | ±$25,000 | ±$50,000 |
SI vs SIL
5 SIL = 1 SI. Both contracts track the same market at the same price; only the size, and so the dollar value of each tick, differs.
| SI | SIL | |
|---|---|---|
| Contract | Silver | Micro Silver (1,000 oz) |
| Contract unit | 5,000 troy ounces | 1,000 troy ounces |
| Tick size | $0.005 per troy ounce | $0.005 per troy ounce |
| Tick value | $25.00 | $5.00 |
| Value of a $1.00 move | $5,000 | $1,000 |
| $0.25 move, 1 contract | $1,250 | $250.00 |
| Notional at 30.00 (example) | $150,000 | $30,000 |
| Same exposure | 1 SI | 5 SIL |
SI contract specification
| Specification | Value |
|---|---|
| Contract | Silver |
| Symbol | SI |
| Exchange | COMEX (CME Group), settled in US dollars |
| Contract unit | 5,000 troy ounces |
| Tick size | $0.005 per troy ounce |
| Tick value | $25.00 per contract |
| Value of a $1.00 move | $5,000 per contract (200 ticks) |
| Micro contract | 5 SIL = 1 SI |
| Contract months | Monthly listings; most volume is in the March, May, July, September and December contracts. |
| Trading hours | CME Globex, Sunday 6:00 p.m. to Friday 5:00 p.m. New York time, with a daily break from 5:00 to 6:00 p.m. Holiday hours are shorter. |
| Example price | 30.00 (an example, not a live quote) |
| Notional value at the example price | $150,000 |
| Margin | Set by CME Group and your broker; check the current figure with your broker |
Contract value, hours and margin
Notional value = price × point value. At an example price of 30.00, which is not a live quote, one SI (5,000 troy ounces) has a notional value of 30.00 × $5,000 = $150,000. Multiply your own price by $5,000 for the current value.
SI trades on CME Globex from Sunday 6:00 p.m. to Friday 5:00 p.m. New York time, with a daily break from 5:00 to 6:00 p.m. Holiday hours are shorter. Volume is highest when London and New York overlap, and around US inflation and jobs data at 8:30 a.m. New York time.
Margin is not a fixed number. CME Group sets the initial and maintenance margin for SI and changes it when volatility changes; brokers and prop firms can require more, and many offer a lower day-trading margin. Check the current requirement with your broker before you size a trade.
Trading Silver (XAG/USD) as a CFD instead of futures? CFD contract sizes are set by each broker; use the XAGUSD pip calculator or the XAGUSD lot size calculator.
Frequently asked questions
How much is one SI tick worth?
One SI tick is a move of $0.005 per troy ounce and is worth $25.00 per contract. A full $1.00 move (200 ticks) is worth $5,000 per contract. On 5 contracts a tick is $125.00.
How many ticks are in a point on SI?
200. SI moves in steps of $0.005 per troy ounce, so a $1.00 move is $1.00 ÷ $0.005 = 200 ticks, worth 200 × $25.00 = $5,000 per contract.
What is the difference between SI and SIL?
Both track the same market at the same price. 5 SIL = 1 SI: SI is 5,000 troy ounces and is worth $25.00 per tick, while SIL is 1,000 troy ounces and is worth $5.00 per tick. A $0.25 move is $1,250 on one SI and $250.00 on one SIL. The micro lets you size in fifths of the full contract.
How do I calculate SI profit and loss?
Divide the price move by the tick size to get ticks, then multiply by the tick value and the number of contracts: P&L = ticks × $25.00 × contracts. Long 2 SI from 30.00 to 30.25: $0.25 = 50 ticks, and 50 × $25.00 × 2 = $2,500. Subtract your round-turn commission per contract for the net result.
How much margin do I need to trade SI?
There is no fixed figure. CME Group sets the initial and maintenance margin for SI and changes it as volatility changes, and your broker or prop firm can ask for more or offer a lower day-trading margin. Check the current requirement with your broker. For scale, at an example price of 30.00 one SI controls $150,000.
Is the SI tick value the same at every broker?
Yes. The tick size and tick value are set by the exchange, so one SI tick is $25.00 at every futures broker and prop firm. Commissions, exchange fees and margin differ.
Risk warning: Futures are leveraged: a small price move can cost more than the margin you posted. The tools and information on this page are for education and are not financial advice.
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