SLV Options History — January 2009

In January 2009, SLV traded between $10.45 and $12.52. ATM implied volatility averaged 51.5%. The 30-day expected move averaged 15.1%. IV traded above realized volatility by 6.1% (HV 20d: 45.4%). Max pain ranged from $10.00 to $11.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.49.

Notable Days

  • 2009-01-23: Highest Volume — 20,600 contracts
  • 2009-01-12: Largest IV spike — 19.8% change
  • 2009-01-05: Largest Expected Move — 18.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.29$10.45$12.52$11.41$12.52
Max Pain$10.25$10.00$11.00$11.00$11.00
ATM IV51.5%45.8%62.3%58.2%49.4%
Expected Move15.1%13.1%18.3%16.7%14.2%
HV 20d45.4%42.0%49.3%45.4%42.3%
Term Structure1.7%-4.1%5.9%3.2%2.1%
VWIV53.8%46.2%63.7%58.1%49.8%
Skew 25d-0.9%-7.9%6.3%6.3%-0.7%
Skew 10d-0.2%-16.7%24.3%8.8%7.9%
Call IV 25d54.9%48.0%64.4%55.1%51.3%
Put IV 25d54.0%46.6%66.2%61.4%50.7%
Bid-Ask Spread %17.0810.8323.3112.3312.43
Gamma HHI0.280.200.600.300.24
Net GEX437.2K101.6K1.2M119.9K1.2M
Net DEX-14.6M-43.7M-4.6M-6.2M-43.7M
Net VEX-97.1K-203.4K-36.2K-36.2K-203.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.490.101.580.650.30
Total Volume7,741.41,57320,6002,78410,223
Total OI55,25021,962106,85621,962106,856

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-01-02$11.41$11.0058.2%16.7%45.4%0.0%58.1%6.3%3.2%119.9K-6.2M-36.2K0.6512.331,6871,09713,8978,065
2009-01-05$11.11$11.0062.3%18.3%46.0%0.0%63.7%1.8%-2.6%101.6K-5.2M-38.3K0.1216.555,01661814,7318,884
2009-01-06$11.34$10.0052.2%17.3%45.0%0.0%58.9%0.4%-0.8%212.6K-8.5M-43.3K0.3613.603,2431,17518,4849,294
2009-01-07$10.86$10.0054.8%16.8%47.3%0.0%59.2%-7.9%1.0%211.5K-6.7M-46.6K0.9314.465,0854,72320,6419,744
2009-01-08$10.99$10.0050.8%16.3%46.5%0.0%58.2%-4.1%1.6%238.9K-8.1M-65.0K0.3016.701,20936424,86014,032
2009-01-09$11.10$10.0049.3%15.6%44.5%0.0%55.7%-3.3%3.2%286.2K-9.2M-65.9K0.3119.125,8371,80025,62314,196
2009-01-12$10.50$10.0059.1%16.1%49.3%0.0%55.7%-2.9%-4.1%214.8K-4.9M-70.8K0.5821.963,6002,10429,71615,789
2009-01-13$10.60$10.0055.4%15.5%49.3%0.0%54.6%-0.0%1.7%273.5K-6.4M-78.2K0.7418.731,5971,18731,71717,557
2009-01-14$10.45$10.0049.5%15.7%47.6%0.0%53.0%0.9%-2.0%205.9K-4.6M-79.8K0.8221.601,3311,09732,69818,178
2009-01-15$10.49$10.0050.5%14.5%44.6%0.0%53.0%-4.2%2.6%184.5K-4.8M-79.0K0.2819.161,95355232,79218,454
2009-01-16$11.11$10.0049.4%14.2%48.7%0.0%51.6%-2.4%5.0%721.2K-13.2M-82.1K0.3919.146,2792,42333,21818,237
2009-01-20$11.09$10.0051.6%14.8%46.4%0.0%55.3%2.7%-0.7%237.3K-10.2M-84.4K0.2419.4511,5052,74527,95715,644
2009-01-21$11.18$10.0050.1%14.4%46.0%0.0%52.3%3.8%0.6%325.4K-11.0M-97.1K1.0023.311,8861,88435,69517,842
2009-01-22$11.33$10.0049.0%14.1%46.1%0.0%49.1%3.7%-0.0%353.1K-12.1M-99.2K0.3317.153,3051,08936,60619,092
2009-01-23$11.85$10.0049.1%14.1%43.1%0.0%51.1%-2.0%4.0%423.9K-18.3M-106.8K0.1016.2218,7451,85539,30219,878
2009-01-26$11.90$10.0049.0%14.0%43.1%0.0%51.5%-6.0%4.6%645.7K-26.4M-139.2K0.2310.8316,7773,78953,28321,359
2009-01-27$11.85$10.0048.9%14.0%42.1%0.0%48.4%0.3%5.2%853.0K-28.4M-171.8K0.2018.114,39289466,65724,252
2009-01-28$11.86$11.0045.8%13.1%42.0%0.0%46.2%-1.3%5.9%922.8K-28.7M-173.3K1.5812.372,1563,39868,95524,736
2009-01-29$12.26$11.0046.6%13.4%43.2%0.0%50.2%-2.8%4.6%995.8K-35.6M-180.9K0.2818.3612,6453,56369,83426,245
2009-01-30$12.52$11.0049.4%14.2%42.3%0.0%49.8%-0.7%2.1%1.2M-43.7M-203.4K0.3012.437,8532,37078,35328,503