Silver Futures
What are silver futures?
Silver futures might allow investors and traders the ability to participate in the silver market without having to purchase or sell the raw material. Silver can be used for multiple purposes, whether for industrial applications or as a potential hedge by investors during times of financial uncertainty.
Silver futures are offered by CME Group nearly 24 hours per day, 5 days per week. CME Group provides access to E-mini Silver futures contracts and Micro Silver futures contracts. The E-mini Silver contract is 1/2 the size of the standard futures contract, while the Micro Silver contract is 1/5th the size of the standard futures contract.
How to trade silver futures
Silver futures and Micro E-mini Silver futures can be traded nearly 24 hours a day, 5 days a week on the thinkorswim® trading platforms. In addition to our advanced trading platforms, you also get access to market research, real-time silver futures quotes, specialized tools, and educational resources to support your trading.
Market price
Silver serves an important role in the manufacturing of jewelry and electronics. It has also played a vital part in investors hedging against inflation. Because of this, the price of silver futures will often be affected by the supply and demand of a range of industries and products, as well as by the speculation of traders and investors.
Contract specifications
| | Symbol | Options Tradable on thinkorswim®2 | Multiplier | Minimum Tick Size and Value | Settlement | Trading Days/Hours |
|---|---|---|---|---|---|---|
| Silver | /SI | Yes | $5,000 | 0.005 = $25.00 | Physical1 | 6 p.m. ET Sunday to 5 p.m. Friday |
| Mini Silver | /QI | No | $2,500 | 0.0125 = $31.25 | Cash | 6 p.m. ET Sunday to 5 p.m. Friday |
| Micro Silver | /SIL | No | $1,000 | 0.005 = $5.00 | Physical1 | 6 p.m. ET Sunday to 5 p.m. Friday |
Silver futures FAQs
Silver futures potentially enable investors and traders to take advantage of opportunities in nearly all market conditions. Silver futures can be used as a way to hedge against inflation and offer the opportunity for portfolio diversification by presenting an alternative to physical silver, silver bars, and coins. Options on silver futures are also available.
It is important to understand the benefits and risks involved with silver futures before placing a futures trade. With silver futures, you can trade nearly 24 hours a day, 5 days a week, and take advantage of potential trading opportunities regardless of market direction. Silver futures also provide the ability to trade with greater leverage and might allow a more efficient use of capital. However, trading leveraged products like silver futures is not suitable for all investors. It involves risks that greater losses can occur with smaller market movements, and more than your initial investment can be lost.
Silver futures come in different contract sizes to accommodate various trading needs and capital requirements. Standard silver futures represent 5,000 ounces, Mini Silver futures contracts are 1/2 the size of standard silver contracts, and Micro Silver futures contracts are 1/5th the size of the standard silver futures contract (representing 1,000 ounces). The smaller contracts require less capital and can offer more flexibility for managing risk or testing strategies.
Standard and Micro Silver contracts are physically settled at the exchange level, but physical delivery is not permitted through Schwab. Clients must close or roll their positions prior to expiration. Mini Silver futures contracts are cash settled.
Ready to trade futures?
Not yet a Schwab client?
Open a brokerage account online, then go to the Getting Started page for next steps.
Already a client?
Use your eligible brokerage account to apply for a futures trading account.