SLV Options History — July 2013

In July 2013, SLV traded between $18.21 and $19.77. ATM implied volatility averaged 32.9%, placing in the 48.2% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded below realized volatility by 13.2% (HV 20d: 46.1%). Max pain ranged from $18.50 to $20.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 0.52.

Notable Days

2013-07-22: Highest Volume — 156,288 contracts
2013-07-22: Largest IV spike — 7.8% change
2013-07-05: Highest IV Rank — 66.0%
2013-07-05: Largest Expected Move — 11.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.05	$18.21	$19.77	$18.93	$19.14
Max Pain	$19.19	$18.50	$20.50	$18.50	$19.00
ATM IV	32.9%	29.3%	38.8%	37.6%	32.6%
Expected Move	9.4%	8.3%	11.1%	10.7%	9.4%
HV 20d	46.1%	35.3%	52.5%	47.2%	35.3%
HV 60d	40.4%	36.9%	46.8%	46.2%	37.9%
IV Rank	48.2%	37.4%	66.0%	62.4%	47.6%
IV Percentile	78.9%	63.9%	95.2%	93.7%	80.6%
Term Structure	-0.6%	-1.6%	0.9%	-1.6%	-0.7%
VWIV	33.5%	29.4%	38.7%	38.5%	32.8%
Skew 25d	4.0%	1.2%	7.3%	7.3%	3.0%
Skew 10d	7.6%	2.4%	14.7%	13.8%	5.1%
Call IV 25d	32.0%	28.7%	36.2%	35.5%	32.2%
Put IV 25d	36.0%	32.1%	42.8%	42.8%	35.3%
Bid-Ask Spread %	6.10	4.63	8.25	6.29	8.25
Gamma HHI	0.08	0.07	0.10	0.07	0.07
Net GEX	8.9M	108.9K	17.8M	3.4M	13.0M
Net DEX	573.4M	189.8M	907.7M	750.8M	336.5M
Net VEX	-7.7M	-8.5M	-7.0M	-7.6M	-8.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.19	1.22	0.61	0.51
Total Volume	92,780.5	34,251	156,288	145,266	109,601
Total OI	3,284,955.591	2,902,360	3,508,177	3,326,275	3,124,263

Daily Data (22 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
2013-07-01	$18.93	$18.50	37.6%	10.7%	47.2%	62.4%	38.5%	7.3%	-1.6%	3.4M	750.8M	-7.6M	0.61	6.29	90,461	54,805	2,304,685	1,021,590
2013-07-02	$18.68	$18.50	36.7%	10.5%	47.2%	59.9%	35.4%	7.2%	-1.6%	2.8M	817.2M	-7.4M	0.46	6.51	63,966	29,385	2,347,235	1,038,655
2013-07-03	$19.02	$18.50	36.1%	10.3%	48.0%	58.0%	36.6%	6.2%	-1.0%	5.8M	718.1M	-7.8M	0.30	7.49	66,386	20,059	2,371,427	1,047,665
2013-07-05	$18.21	$18.50	38.8%	11.1%	49.4%	66.0%	38.7%	6.4%	-1.0%	108.9K	907.7M	-7.1M	0.75	6.14	52,000	38,756	2,397,713	1,051,581
2013-07-08	$18.42	$18.50	37.3%	10.7%	47.5%	61.5%	38.6%	5.7%	-1.2%	1.2M	834.3M	-7.0M	0.73	6.37	34,952	25,416	2,359,003	1,008,376
2013-07-09	$18.57	$18.50	35.5%	10.2%	47.2%	56.3%	37.0%	5.1%	-1.3%	2.8M	824.3M	-7.1M	0.64	6.33	35,699	22,852	2,376,775	1,020,385
2013-07-10	$18.48	$18.50	34.9%	10.0%	47.1%	54.5%	35.7%	5.1%	-1.1%	2.8M	843.9M	-7.0M	0.60	7.10	50,753	30,330	2,388,929	1,021,746
2013-07-11	$19.49	$0.00	32.3%	9.3%	51.6%	46.5%	32.8%	2.8%	-0.7%	13.4M	549.1M	-8.0M	0.25	7.50	108,578	26,745	2,404,147	1,017,190
2013-07-12	$19.21	$19.00	31.5%	9.1%	51.7%	44.3%	32.4%	3.0%	-0.9%	8.2M	628.0M	-7.7M	0.49	6.44	47,099	23,063	2,426,710	1,022,809
2013-07-15	$19.28	$20.50	30.9%	8.8%	51.3%	42.2%	31.4%	3.4%	0.9%	9.0M	642.1M	-7.7M	0.41	4.63	33,798	13,829	2,394,013	1,000,535
2013-07-16	$19.33	$20.50	30.5%	8.7%	51.3%	41.1%	30.1%	3.0%	0.4%	10.9M	627.7M	-7.5M	0.24	4.74	99,473	23,472	2,406,718	1,003,771
2013-07-17	$18.66	$20.00	32.7%	9.3%	52.5%	47.7%	33.0%	4.5%	-1.5%	5.0M	757.0M	-7.2M	0.93	6.14	57,165	53,314	2,473,321	999,832
2013-07-18	$18.72	$20.00	31.1%	8.9%	52.5%	42.8%	30.9%	4.0%	0.8%	4.0M	754.8M	-7.1M	0.38	5.74	50,693	19,429	2,475,180	1,005,207
2013-07-19	$18.88	$20.00	29.3%	8.3%	43.8%	37.4%	29.4%	3.4%	0.9%	8.5M	701.5M	-7.3M	0.19	6.55	109,456	20,941	2,502,379	1,005,798
2013-07-22	$19.77	$18.50	31.6%	9.1%	46.2%	44.3%	33.7%	1.2%	-1.0%	15.4M	189.8M	-8.4M	0.43	5.28	109,390	46,898	2,102,341	800,019
2013-07-23	$19.77	$19.00	30.6%	8.8%	45.4%	41.3%	31.3%	1.7%	-0.7%	17.8M	190.0M	-8.4M	0.30	6.29	78,497	23,252	2,147,432	818,110
2013-07-24	$19.47	$19.00	30.7%	8.8%	45.8%	41.8%	35.7%	3.0%	-0.2%	16.7M	259.0M	-8.5M	0.46	5.14	69,628	32,274	2,196,969	825,588
2013-07-25	$19.50	$19.50	30.2%	8.7%	40.6%	40.2%	30.5%	2.3%	-0.2%	16.4M	251.8M	-8.5M	0.26	5.01	60,005	15,528	2,222,767	837,745
2013-07-26	$19.32	$19.50	29.9%	8.6%	40.9%	39.5%	30.7%	2.8%	-0.0%	14.5M	298.1M	-8.3M	0.33	5.56	83,903	27,557	2,255,510	842,572
2013-07-29	$19.14	$19.50	31.1%	8.9%	35.6%	42.8%	30.9%	2.9%	-0.4%	13.0M	349.4M	-8.2M	1.22	5.63	21,445	26,067	2,272,216	820,757
2013-07-30	$19.03	$19.50	31.2%	8.9%	35.6%	43.3%	31.5%	3.2%	-0.1%	11.8M	384.4M	-7.9M	0.88	5.16	18,221	16,030	2,281,006	828,353
2013-07-31	$19.14	$19.00	32.6%	9.4%	35.3%	47.6%	32.8%	3.0%	-0.7%	13.0M	336.5M	-8.2M	0.51	8.25	72,753	36,848	2,287,770	836,493