The high-demand silver market is now more accessible than ever. The 100-Ounce Silver (SIC) futures contract offers a low-cost, manageable entry point, letting you trade a full silver position with less capital. Access trading nearly 24 hours a day, five days a week.

Key features

Control more with less

Maximize your trading power and control larger silver positions with minimal upfront capital.

Go short as easily as you go long

Take a long or short position on the silver markets, and avoid restrictive locate requirements and expensive borrow costs.

Clear, predictable cost

Know trading costs precisely, as the small tick value provides clear movement for highly predictable risk management.

Control larger positions with more efficient use of capital

Unlike other financial products, 100-Ounce Silver futures offer unique capital efficiency, meaning you can control larger positions with less capital. Traders typically need 5% to 10% of the total notional value (or, the dollar amount of position) to hold a futures position versus holding an ETF, which can cost anywhere between 50% to 100% of the notional. That 5%-10% is the margin required, or amount needed to open a 100-Ounce Silver futures position.

Once you establish a position, you need to know the minimum tick value (the smallest possible increment between a bid/offer). 100-Ounce Silver futures move in 0.25 increments, equaling $0.25 per move.

Trading futures

If Silver futures trade at around $80 per troy ounce and a trader is bullish, they can purchase a 100-Ounce Silver futures contract with roughly $1,400 of margin. This $8,000 position is 6 times greater than the margin requirement.

CAPITAL REQUIRED

$1,400

NOTIONAL VALUE

$8,000

EFFICIENCY RATIO

6:1

Trading ETFs

Trading a similar position with ETFs involves purchasing approximately 113 shares of an iShare Silver Trust SLV ETF, which can be purchased using a broker. There are typically less capital efficiencies when trading ETFs.

CAPITAL REQUIRED

$8,000

NOTIONAL VALUE

$8,000

Efficiency RATIO

1:1

Figures are for informational purposes only.

Explore this product in depth

Compare futures products

Considering which futures to trade? Compare different Metals products by contract sizes, amount of market exposure offered, the margin required and more.

Resources to get you started

Get to know our free tools and resources to refine your trading strategies. 

Take a test drive in the Trading Simulator

Get started today by practicing to trade in our risk-free simulator and expand your understanding of Metals products.

InFOCUS

Get daily need-to-know insights on global futures and options markets, delivered to your inbox every weekday. 

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2026 CME Group Inc. All rights reserved.