SLV Options History — February 2016

In February 2016, SLV traded between $13.63 and $14.99. ATM implied volatility averaged 25.8%, placing in the 38.3% IV rank vs the trailing year. The 30-day expected move averaged 7.4%. IV traded above realized volatility by 3.8% (HV 20d: 22.0%). Max pain ranged from $13.50 to $14.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.33.

Notable Days

2016-02-11: Highest Volume — 213,866 contracts
2016-02-11: Largest IV spike — 11.0% change
2016-02-11: Highest IV Rank — 62.0%
2016-02-24: Largest Expected Move — 8.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.40	$13.63	$14.99	$13.68	$14.21
Max Pain	$13.65	$13.50	$14.00	$13.50	$14.00
ATM IV	25.8%	21.9%	29.1%	22.2%	25.1%
Expected Move	7.4%	5.9%	8.3%	6.1%	7.4%
HV 20d	22.0%	17.6%	24.9%	20.9%	24.9%
HV 60d	22.6%	20.8%	24.5%	21.0%	24.5%
IV Rank	38.3%	11.2%	62.0%	13.6%	33.8%
IV Percentile	50.9%	3.6%	85.7%	5.2%	43.7%
Term Structure	0.0%	-0.7%	0.8%	0.1%	0.2%
VWIV	26.7%	21.1%	30.6%	21.8%	26.7%
Skew 25d	-2.4%	-3.8%	0.2%	-0.1%	-2.5%
Skew 10d	-4.4%	-7.3%	0.0%	-1.1%	-3.7%
Call IV 25d	28.0%	22.9%	32.5%	23.0%	27.3%
Put IV 25d	25.6%	23.0%	28.8%	23.0%	24.7%
Bid-Ask Spread %	3.85	2.60	5.89	3.06	3.31
Gamma HHI	0.15	0.09	0.27	0.22	0.09
Net GEX	16.3M	11.0M	22.1M	11.3M	13.9M
Net DEX	-261.6M	-405.8M	-98.1M	-105.4M	-185.9M
Net VEX	-2.6M	-2.9M	-2.1M	-2.1M	-2.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.33	0.16	0.49	0.40	0.30
Total Volume	93,055.4	43,676	213,866	45,810	65,305
Total OI	1,109,421.6	930,474	1,269,784	930,474	1,238,320

Daily Data (20 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
2016-02-01	$13.68	$13.50	22.2%	6.1%	20.9%	13.6%	21.8%	-0.1%	0.1%	11.3M	-105.4M	-2.1M	0.40	3.06	32,654	13,156	706,417	224,057
2016-02-02	$13.63	$13.50	21.9%	5.9%	21.0%	11.2%	21.1%	0.2%	0.6%	11.0M	-98.1M	-2.1M	0.40	2.60	31,242	12,434	713,372	226,507
2016-02-03	$13.97	$13.50	23.3%	6.4%	22.4%	20.8%	22.8%	-0.9%	0.5%	15.2M	-177.4M	-2.3M	0.29	3.05	90,823	26,094	719,177	228,210
2016-02-04	$14.17	$13.50	22.9%	6.7%	22.8%	18.0%	23.8%	-1.3%	0.8%	17.3M	-230.9M	-2.4M	0.27	4.26	59,918	15,901	754,607	235,077
2016-02-05	$14.30	$13.50	24.0%	7.0%	22.0%	26.1%	25.2%	-1.3%	0.3%	15.4M	-254.9M	-2.4M	0.23	4.67	55,940	12,959	763,448	239,033
2016-02-08	$14.59	$13.50	25.9%	7.5%	20.3%	39.2%	26.3%	-2.8%	0.3%	17.0M	-312.5M	-2.5M	0.30	4.53	99,666	29,598	763,276	232,494
2016-02-09	$14.52	$13.50	26.2%	7.6%	20.3%	41.5%	26.8%	-2.9%	0.3%	17.7M	-294.9M	-2.5M	0.36	3.22	61,768	22,146	788,827	243,953
2016-02-10	$14.57	$13.50	26.3%	7.5%	20.0%	41.8%	27.3%	-3.3%	-0.1%	17.3M	-302.9M	-2.5M	0.32	3.36	54,273	17,507	794,375	248,715
2016-02-11	$14.96	$13.50	29.1%	8.3%	20.3%	62.0%	29.9%	-3.7%	-0.3%	16.7M	-394.9M	-2.7M	0.30	5.89	164,159	49,707	796,147	251,751
2016-02-12	$14.99	$13.50	27.8%	8.0%	17.6%	52.7%	30.5%	-3.5%	0.5%	22.1M	-405.8M	-2.9M	0.16	3.46	169,297	26,836	863,046	271,481
2016-02-16	$14.51	$13.50	26.4%	7.6%	22.4%	42.6%	27.6%	-3.1%	0.0%	18.8M	-301.0M	-2.8M	0.47	4.11	48,890	23,001	923,665	263,538
2016-02-17	$14.55	$13.50	26.5%	7.6%	22.3%	43.7%	28.3%	-2.8%	0.1%	18.7M	-310.6M	-2.8M	0.37	4.01	58,331	21,486	933,714	266,019
2016-02-18	$14.77	$13.50	28.7%	8.3%	22.6%	59.0%	29.9%	-3.6%	-0.2%	19.2M	-369.2M	-2.9M	0.33	3.99	69,453	22,681	955,043	272,783
2016-02-19	$14.63	$13.50	27.0%	7.7%	23.0%	46.8%	28.7%	-3.8%	0.1%	16.6M	-349.9M	-2.9M	0.49	3.84	57,709	28,212	992,384	277,400
2016-02-22	$14.43	$14.00	25.7%	7.4%	23.7%	37.7%	26.8%	-2.5%	-0.3%	15.7M	-235.3M	-2.8M	0.40	4.25	43,947	17,550	911,001	240,151
2016-02-23	$14.54	$14.00	26.5%	7.7%	23.4%	43.3%	27.2%	-2.3%	-0.7%	16.8M	-258.4M	-2.9M	0.36	3.33	45,963	16,452	927,732	245,341
2016-02-24	$14.51	$14.00	28.7%	8.3%	22.8%	58.8%	30.6%	-3.4%	-0.7%	16.3M	-258.1M	-2.9M	0.24	4.18	103,694	24,826	939,688	248,881
2016-02-25	$14.45	$14.00	26.8%	7.7%	22.9%	45.5%	27.9%	-2.2%	-0.5%	16.7M	-241.7M	-2.9M	0.38	3.77	41,222	15,661	982,332	255,859
2016-02-26	$14.03	$14.00	24.2%	7.0%	24.6%	27.4%	25.4%	-2.2%	-0.3%	11.9M	-143.8M	-2.7M	0.23	4.13	89,747	20,900	990,739	259,872
2016-02-29	$14.21	$14.00	25.1%	7.4%	24.9%	33.8%	26.7%	-2.5%	0.2%	13.9M	-185.9M	-2.7M	0.30	3.31	50,268	15,037	978,648	259,672