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Silver Futures Markets

A key part of being able to successfully trade silver future markets is having a good understanding and being comfortable with the different contracts offered.  This will help you to find the best contract that suits your needs.  There are two different markets that you can trade silver on, and both happen to be owned by the Chicago Mercantile Group CME Group, Inc.  The Commodity Exchange (COMEX) in New York, which was acquired by the New York Mercantile Exchange (NYMEX) in 1994, is the most well known and frequently traded silver future market in the world.  Register for your FREE report Silver Demand: “Why and How It May Cause Silver Prices to Fall” to read this special market analysis report from Futures Press – simply click FREE SILVER REPORT. Silver futures are also traded at the Chicago Board of Trade (CBOT).  The CME Group purchased the CBOT and the NYMEX in 2007 and 2008 respectively.  The silver future specifications for the different contracts offered by these exchanges are as follows:

Contract COMEX Silver
Symbol SI
Open Out Cry Hours 8:25 AM to 1:25 PM M-F
Electronic Platform Hours 6:00 PM Sunday – 5:15 PM Friday with trading closed 5:15 PM – 6:00 PM M-F
Delivery Months The first 3 consecutive months: the following two months: F, H, K, and Uwithin the next 23 months: N and Z within the next 60 months
Contract Size 5,000 Troy oz.
Mininum Tick $.005 per oz ($25.00 /contract)
Margin

$8,100

Settlement Form Physical
 
Contract CBOT Silver
Symbol ZI
Open Out Cry Hours Not Applicable
Electronic Platform Hours 7:16 PM to 5:00 PM Sunday-Friday
Delivery Months The first 3 consecutive months: the following two months: F, H, K, and Uwithin the next 23 months: N and Z within the next 60 months
Contract Size 5,000 Troy oz.
Mininum Tick $.001 per oz ($5.00 /contract)
Margin

$8,100

Settlement Form Physical
   
Contract COMEX miNY Silver
Symbol QI
Open Out Cry Hours Not Applicable
Electronic Platform Hours 6:00 PM Sunday – 5:15 PM Friday with trading closed 5:15 PM – 6:00 PM M-F
Delivery Months The first 3 consecutive months: the following two months: F, H, K, and Uwithin the next 23 months: N and Z within the next 60 months
Contract Size 2,500 Troy oz.
Mininum Tick $.0125 per oz ($31.25 /contract)
Margin

$4,050

Settlement Form Cash
   
Contract CBOT mini Silver
Symbol YI
Open Out Cry Hours Not Applicable
Electronic Platform Hours 7:16 PM to 5:00 PM Sunday-Friday
Delivery Months The first 3 consecutive months
Contract Size 1000 Troy oz.
Mininum Tick $.001 per oz ($1.00 /contract)
Margin

$1,620

Settlement Form Physical

The differences in contract sizes are significant factors that may influence an individual’s choice of contract. Mini silver future contracts can be utilized by newer traders with limited spare capital and a smaller tolerance for risk.  Trade the contract that best suits your needs and risk tolerance levels.  Understanding the different silver future contracts will help you to get your trading career off on the right foot.

Trading in futures and options involves a substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results.


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