SLV Options History — June 2014

In June 2014, SLV traded between $18.02 and $20.25. ATM implied volatility averaged 18.4%, placing in the 5.7% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 3.7% (HV 20d: 14.8%). Max pain ranged from $18.00 to $20.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.37.

Notable Days

2014-06-19: Highest Volume — 352,349 contracts
2014-06-19: Largest IV spike — 24.3% change
2014-06-19: Highest IV Rank — 19.7%
2014-06-02: Largest Expected Move — 6.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.11	$18.02	$20.25	$18.02	$20.25
Max Pain	$18.40	$18.00	$20.00	$18.00	$20.00
ATM IV	18.4%	16.3%	21.3%	20.5%	20.2%
Expected Move	6.1%	5.9%	6.5%	6.5%	6.2%
HV 20d	14.8%	11.7%	19.5%	13.8%	16.4%
HV 60d	14.3%	12.7%	15.7%	15.1%	15.5%
IV Rank	5.7%	0.0%	19.7%	2.9%	16.6%
IV Percentile	2.5%	0.0%	9.1%	1.6%	7.5%
Term Structure	0.1%	-0.4%	0.5%	-0.4%	-0.1%
VWIV	23.0%	21.2%	29.0%	23.7%	25.0%
Skew 25d	-0.8%	-2.5%	0.9%	0.9%	-2.0%
Skew 10d	-1.6%	-5.0%	1.9%	1.9%	-3.7%
Call IV 25d	19.7%	16.8%	23.6%	20.9%	22.4%
Put IV 25d	18.9%	16.7%	21.8%	21.8%	20.4%
Bid-Ask Spread %	10.15	7.64	11.59	8.03	10.07
Gamma HHI	0.13	0.09	0.43	0.09	0.10
Net GEX	36.8M	7.4M	104.7M	7.4M	52.2M
Net DEX	-348.4M	-933.1M	185.7M	185.7M	-850.2M
Net VEX	-8.3M	-10.3M	-6.8M	-6.8M	-10.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.15	1.26	0.24	0.40
Total Volume	88,255.762	26,449	352,349	64,357	103,154
Total OI	3,067,871	2,887,937	3,233,426	2,887,937	3,156,867

Daily Data (21 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
2014-06-02	$18.02	$18.00	20.5%	6.5%	13.8%	2.9%	23.7%	0.9%	-0.4%	7.4M	185.7M	-6.8M	0.24	8.03	51,817	12,540	2,212,490	675,447
2014-06-03	$18.10	$18.00	20.0%	6.4%	13.6%	0.6%	23.8%	0.7%	-0.1%	9.3M	160.6M	-6.9M	0.20	11.52	35,183	6,908	2,237,148	679,078
2014-06-04	$18.06	$18.00	19.4%	6.3%	13.6%	0.0%	23.4%	0.5%	-0.1%	8.7M	164.1M	-6.8M	1.18	9.36	18,819	22,279	2,252,231	680,538
2014-06-05	$18.26	$18.00	19.0%	6.3%	13.7%	0.0%	22.7%	0.5%	0.1%	14.0M	83.7M	-7.0M	0.26	9.73	43,034	11,230	2,257,665	684,413
2014-06-06	$18.28	$18.00	18.0%	6.3%	13.6%	0.0%	23.0%	0.0%	0.1%	15.5M	82.5M	-7.0M	1.26	9.55	22,372	28,280	2,286,101	688,174
2014-06-09	$18.32	$18.00	17.2%	6.1%	13.6%	0.0%	22.6%	-0.3%	-0.3%	16.0M	74.7M	-6.9M	0.55	9.51	26,432	14,607	2,276,447	680,300
2014-06-10	$18.46	$18.00	16.3%	5.9%	11.9%	0.0%	21.2%	-0.1%	-0.2%	20.9M	32.3M	-6.9M	0.21	10.93	51,533	10,933	2,291,956	690,156
2014-06-11	$18.46	$18.00	16.3%	5.9%	11.9%	0.1%	22.1%	-0.4%	-0.2%	21.9M	22.4M	-7.0M	0.46	10.40	30,383	13,920	2,320,216	691,895
2014-06-12	$18.76	$18.00	16.8%	5.9%	12.5%	2.2%	22.3%	-1.1%	-0.1%	31.7M	-144.6M	-7.4M	0.15	7.64	100,677	15,484	2,339,607	697,823
2014-06-13	$18.92	$18.00	16.8%	5.9%	11.9%	2.0%	21.8%	-0.7%	0.1%	38.1M	-250.0M	-7.7M	0.21	11.52	71,519	15,132	2,393,604	701,119
2014-06-16	$18.85	$18.00	17.3%	5.9%	11.7%	4.1%	21.2%	-0.4%	0.0%	38.0M	-207.3M	-7.7M	0.31	9.15	45,881	14,194	2,400,287	696,273
2014-06-17	$18.94	$18.00	17.0%	5.9%	11.8%	3.0%	21.8%	-0.7%	0.4%	41.8M	-265.5M	-7.8M	0.29	9.41	20,492	5,957	2,411,733	696,674
2014-06-18	$19.05	$18.00	17.1%	6.0%	11.9%	3.4%	22.0%	-0.8%	0.5%	45.1M	-330.7M	-7.9M	0.27	9.96	58,201	15,603	2,416,114	698,655
2014-06-19	$19.92	$18.00	21.3%	6.4%	19.5%	19.7%	23.1%	-2.5%	-0.2%	52.1M	-828.7M	-9.3M	0.21	11.36	291,910	60,439	2,420,149	694,635
2014-06-20	$20.03	$18.00	19.1%	6.3%	19.5%	11.3%	23.5%	-2.4%	0.4%	104.7M	-933.1M	-9.7M	0.27	10.61	152,498	41,115	2,498,721	717,889
2014-06-23	$20.05	$0.00	18.7%	6.1%	19.3%	9.7%	21.5%	-1.7%	0.3%	47.3M	-786.6M	-9.7M	0.35	11.59	79,968	27,815	2,415,221	665,324
2014-06-24	$20.08	$18.00	19.0%	6.1%	17.9%	10.8%	22.5%	-1.7%	-0.2%	49.8M	-832.8M	-10.1M	0.34	10.81	85,679	28,892	2,463,978	686,009
2014-06-25	$20.19	$20.00	19.0%	6.2%	17.6%	10.9%	24.3%	-1.3%	0.4%	52.6M	-891.9M	-10.2M	0.25	10.07	52,489	13,340	2,499,893	699,161
2014-06-26	$20.24	$20.00	19.0%	6.2%	17.6%	11.0%	22.9%	-1.7%	0.1%	54.1M	-912.6M	-10.3M	0.17	11.14	59,596	9,847	2,510,091	707,783
2014-06-27	$20.17	$20.00	19.1%	6.2%	16.7%	11.2%	29.0%	-1.5%	0.4%	51.3M	-888.1M	-10.2M	0.22	10.88	67,957	15,262	2,522,494	710,932
2014-06-30	$20.25	$20.00	20.2%	6.2%	16.4%	16.6%	25.0%	-2.0%	-0.1%	52.2M	-850.2M	-10.3M	0.40	10.07	73,583	29,571	2,471,940	684,927