SLV Options History — February 2013

In February 2013, SLV traded between $27.54 and $30.81. ATM implied volatility averaged 22.6%, placing in the 16.2% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded above realized volatility by 3.6% (HV 20d: 19.0%). Max pain ranged from $28.00 to $31.00. Net GEX was positive for 9 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.77.

Notable Days

2013-02-20: Highest Volume — 203,557 contracts
2013-02-20: Largest IV spike — 12.3% change
2013-02-20: Highest IV Rank — 26.8%
2013-02-20: Largest Expected Move — 7.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.25	$27.54	$30.81	$30.78	$27.54
Max Pain	$29.61	$28.00	$31.00	$31.00	$28.00
ATM IV	22.6%	20.3%	26.4%	20.3%	23.5%
Expected Move	6.5%	5.8%	7.6%	5.8%	6.8%
HV 20d	19.0%	17.4%	20.9%	18.3%	18.6%
HV 60d	20.7%	20.3%	21.5%	21.5%	20.5%
IV Rank	16.2%	9.8%	26.8%	9.8%	18.5%
IV Percentile	16.0%	1.2%	39.3%	1.2%	22.2%
Term Structure	0.0%	-1.2%	0.9%	0.9%	-0.5%
VWIV	23.1%	20.5%	26.5%	21.0%	23.5%
Skew 25d	2.2%	0.4%	4.1%	1.0%	2.6%
Skew 10d	4.4%	0.8%	8.2%	1.8%	4.6%
Call IV 25d	22.3%	20.3%	25.5%	20.5%	23.2%
Put IV 25d	24.5%	21.5%	28.8%	21.5%	25.8%
Bid-Ask Spread %	3.08	1.40	4.39	3.69	3.25
Gamma HHI	0.08	0.06	0.14	0.07	0.08
Net GEX	9.6M	-20.3M	50.3M	42.6M	-13.4M
Net DEX	88.1M	-616.3M	638.2M	-616.3M	634.6M
Net VEX	-9.8M	-11.1M	-8.5M	-11.1M	-8.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.77	0.32	1.15	0.63	0.57
Total Volume	117,053	49,887	203,557	118,224	103,460
Total OI	2,574,951	2,333,902	2,698,781	2,601,465	2,614,650

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2013-02-01	$30.78	$31.00	20.3%	5.8%	18.3%	9.8%	21.0%	1.0%	0.9%	42.6M	-616.3M	-11.1M	0.63	3.69	72,457	45,767	1,667,051	934,414
2013-02-04	$30.69	$31.00	21.6%	6.2%	18.4%	13.3%	21.8%	0.4%	0.3%	41.0M	-537.9M	-10.9M	0.41	3.21	37,268	15,383	1,654,719	914,923
2013-02-05	$30.76	$31.00	21.5%	6.2%	18.4%	13.0%	22.1%	0.6%	0.1%	47.0M	-599.7M	-10.9M	0.50	3.20	33,317	16,570	1,667,859	918,235
2013-02-06	$30.81	$31.00	21.1%	6.0%	18.3%	11.9%	21.7%	0.4%	0.1%	50.3M	-614.2M	-10.9M	0.92	3.00	27,154	25,098	1,678,231	924,595
2013-02-07	$30.46	$0.00	21.3%	6.1%	18.9%	12.6%	21.8%	1.0%	0.3%	35.2M	-383.4M	-10.6M	0.74	4.04	65,606	48,633	1,685,691	932,323
2013-02-08	$30.43	$31.00	20.5%	5.8%	18.3%	10.2%	20.5%	1.2%	0.5%	33.6M	-324.7M	-10.8M	0.32	3.55	62,883	20,360	1,701,203	956,912
2013-02-11	$30.00	$30.00	22.0%	6.3%	18.7%	14.5%	22.4%	2.1%	0.8%	18.2M	-99.6M	-10.3M	0.78	1.69	60,352	47,005	1,689,356	930,660
2013-02-12	$30.09	$30.00	21.5%	6.2%	17.5%	13.2%	21.9%	2.0%	0.9%	17.1M	-142.4M	-10.3M	0.54	1.51	63,796	34,376	1,701,590	940,899
2013-02-13	$29.77	$30.00	21.0%	6.0%	17.4%	11.7%	21.4%	2.1%	0.9%	2.4M	52.1M	-9.9M	0.94	1.97	37,334	35,176	1,710,864	948,681
2013-02-14	$29.46	$30.00	22.3%	6.4%	17.7%	15.1%	22.1%	2.5%	-0.2%	-19.4M	273.3M	-9.6M	1.08	1.40	79,375	85,936	1,705,301	957,600
2013-02-15	$28.83	$30.00	21.9%	6.3%	18.7%	14.2%	22.5%	2.3%	0.4%	-20.3M	597.8M	-9.2M	0.90	1.57	106,513	96,295	1,733,618	965,163
2013-02-19	$28.45	$29.50	23.5%	6.7%	18.8%	18.7%	24.6%	3.4%	-0.5%	-7.0M	420.4M	-8.9M	0.63	4.09	78,767	49,674	1,526,633	807,269
2013-02-20	$27.59	$29.00	26.4%	7.6%	20.3%	26.8%	26.5%	3.3%	-1.2%	-10.1M	638.2M	-8.5M	0.86	3.60	109,317	94,240	1,563,718	823,395
2013-02-21	$27.73	$29.00	25.2%	7.2%	20.5%	23.4%	25.8%	4.1%	-0.4%	-7.3M	582.9M	-8.8M	1.15	2.93	92,746	106,795	1,614,241	853,851
2013-02-22	$27.83	$28.50	24.3%	7.0%	20.2%	20.9%	25.6%	3.9%	-0.2%	-9.3M	579.8M	-9.0M	1.11	3.54	73,565	81,346	1,643,735	900,117
2013-02-25	$28.07	$28.00	25.6%	7.3%	20.4%	24.5%	25.3%	4.0%	-1.0%	-7.1M	424.8M	-9.5M	1.02	3.97	40,531	41,275	1,627,409	900,572
2013-02-26	$28.41	$28.00	22.8%	6.5%	20.9%	16.8%	25.6%	2.5%	-0.5%	-3.5M	317.7M	-9.3M	0.89	3.86	78,482	70,207	1,637,589	906,281
2013-02-27	$28.01	$28.00	23.5%	6.7%	20.2%	18.6%	23.6%	2.3%	-0.3%	-7.2M	470.1M	-9.2M	0.69	4.39	51,571	35,377	1,662,576	922,145
2013-02-28	$27.54	$28.00	23.5%	6.8%	18.6%	18.5%	23.5%	2.6%	-0.5%	-13.4M	634.6M	-8.8M	0.57	3.25	65,908	37,552	1,685,170	929,480