Silver (SI) delivery months at a glance — every contract's record over its tenure as the lead month.
Futures Seasonality · Contract-Month Study
Every silver contract 2010–2026, measured over its seat as the lead contract · Updated for 2026
Silver’s five seats form a barbell: two strong seats at the ends of the year carrying essentially all of the metal’s seasonal return, and three seats between them that have leaked it back. The winter seat just produced the largest tenure gain in our entire study.
Most seasonality tables slice the calendar. This one slices the contracts. Each delivery month below is measured over its time as the lead contract: from the open of the day it takes over the front of the board to the close of the day it hands off the lead. No roll gaps, no splicing, one contract per observation. Silver contracts lead for roughly two months each (the March and December contracts closer to three), so these are seats, not months.
Silver (SI) — Average Change by Seat
Average change while each contract leads the board. Hover any bar for the detail.
Each row is one of silver’s five active delivery months: seats risen since 2010, average change, and average high-to-low range. “Typically leads” is the median window.
| Contract | Typically leads | Up / Down | Win rate | Avg change | Avg range |
|---|
Table view doubles as the accessible read of the chart above.
The barbell’s ends pay. The winter March seat (69%, +8.5% average, this year’s +68% the largest tenure in our study) and the late-summer September seat (69%, +7.1%, home of 2020’s +49% August) have carried silver’s entire seasonal case for sixteen years.
The middle leaks. The May seat taxes the winter rally’s gains (38%, and keeper of 2011’s blow-off), and the July seat is the board’s worst average at −5.2%, early summer being silver’s emptiest season.
Autumn breaks harder here than in gold. Where gold’s matching December seat fights its September seam to a draw, silver’s loses: 31%, the thinner and twitchier metal recovering from the autumn air pocket in only a third of its years.
A seat’s record tells you how its stretch of the year has treated the lead contract historically. It doesn’t tell you where the current one sits today, whether this cycle is tracking the record or fighting it, or the levels that matter into the next session. That is what The Traders Brief does every morning, across energy, metals, and the indexes.
See today’s read →Which silver contract month is historically strongest?
The March (H) seat, up 11 of 16 (69%) with a +8.5% average, including 2026’s +68%, the largest tenure gain in our study. The September (U) seat matches the 69% at +7.1%.
Which silver contract month is weakest?
The December (Z) autumn seat, up just 5 of 16 (31%), silver’s September seam claiming most years. By average the July (N) seat is deepest at −5.2%.
Why does silver only have five contract months here?
Only Mar, May, Jul, Sep, and Dec take the lead on silver’s board, each for roughly two to three months.
Contract tendencies are drawn from 16 years of individual Silver futures contract history (2010–2026), each measured over its own seat as the lead contract, and describe the past. They are not a forecast and not trading advice. Markets can and do trade against their record in any given year. © 2026 The Traders Brief.