SLV Options History — April 2017

In April 2017, SLV traded between $16.31 and $17.56. ATM implied volatility averaged 19.7%, placing in the 13.4% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 6.4% (HV 20d: 13.4%). Max pain ranged from $17.00 to $17.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.45.

Notable Days

2017-04-21: Highest Volume — 127,903 contracts
2017-04-24: Largest IV drop — 12.5% change
2017-04-11: Highest IV Rank — 23.6%
2017-04-11: Largest Expected Move — 6.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.08	$16.31	$17.56	$17.25	$16.31
Max Pain	$17.00	$17.00	$17.00	$17.00	$17.00
ATM IV	19.7%	17.8%	21.6%	18.2%	19.3%
Expected Move	5.6%	4.9%	6.1%	4.9%	5.5%
HV 20d	13.4%	11.7%	16.6%	16.6%	13.2%
HV 60d	16.5%	15.9%	16.9%	16.5%	15.9%
IV Rank	13.4%	2.7%	23.6%	4.8%	10.9%
IV Percentile	11.0%	1.6%	20.6%	4.0%	9.1%
Term Structure	0.0%	-0.6%	0.5%	0.3%	-0.1%
VWIV	20.0%	17.1%	22.2%	17.4%	20.0%
Skew 25d	0.2%	-0.7%	2.1%	-0.7%	2.1%
Skew 10d	0.3%	-1.4%	3.3%	-1.0%	3.3%
Call IV 25d	20.3%	18.6%	22.5%	19.1%	19.2%
Put IV 25d	20.5%	18.4%	22.4%	18.4%	21.3%
Bid-Ask Spread %	2.00	1.62	4.78	4.78	1.85
Gamma HHI	0.15	0.10	0.28	0.15	0.10
Net GEX	23.3M	8.3M	48.4M	28.0M	11.3M
Net DEX	-413.6M	-611.1M	-154.7M	-498.1M	-154.7M
Net VEX	-4.6M	-4.9M	-4.1M	-4.8M	-4.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.45	0.16	1.16	0.35	0.39
Total Volume	87,095.895	54,185	127,903	65,943	84,058
Total OI	1,671,726.789	1,494,773	1,803,890	1,653,621	1,598,147

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
2017-04-03	$17.25	$17.00	18.2%	4.9%	16.6%	4.8%	17.4%	-0.7%	0.3%	28.0M	-498.1M	-4.8M	0.35	4.78	48,774	17,169	1,304,617	349,004
2017-04-04	$17.34	$17.00	18.3%	4.9%	15.2%	5.8%	17.1%	-0.6%	0.5%	31.0M	-534.4M	-4.8M	0.34	1.62	40,843	14,074	1,315,444	351,613
2017-04-05	$17.31	$17.00	18.6%	5.0%	14.0%	7.3%	17.8%	-0.6%	0.3%	31.0M	-529.8M	-4.8M	0.26	1.93	42,952	11,233	1,321,812	352,822
2017-04-06	$17.27	$17.00	18.7%	5.5%	11.9%	7.6%	19.1%	-0.1%	0.4%	30.8M	-507.9M	-4.8M	0.61	1.85	42,318	25,698	1,325,530	354,107
2017-04-07	$17.04	$17.00	20.0%	5.8%	13.4%	15.0%	20.5%	-0.1%	0.0%	13.6M	-420.1M	-4.7M	0.75	2.08	66,875	50,375	1,323,328	367,177
2017-04-10	$17.00	$17.00	20.5%	5.8%	13.3%	17.4%	20.8%	-0.5%	-0.1%	19.1M	-378.5M	-4.6M	0.35	1.83	63,991	22,456	1,320,150	365,525
2017-04-11	$17.32	$17.00	21.6%	6.1%	14.1%	23.6%	21.9%	-0.1%	0.0%	29.5M	-525.3M	-4.8M	0.35	1.72	75,693	26,204	1,338,548	370,817
2017-04-12	$17.43	$17.00	21.3%	6.1%	11.7%	22.2%	22.0%	-0.3%	-0.2%	34.2M	-569.2M	-4.9M	0.50	1.82	55,299	27,518	1,348,965	379,574
2017-04-13	$17.52	$17.00	21.0%	5.9%	11.7%	20.3%	21.5%	-0.4%	-0.3%	48.4M	-611.1M	-4.9M	0.16	1.92	97,834	16,118	1,355,285	388,167
2017-04-17	$17.56	$17.00	20.8%	5.9%	11.7%	19.2%	22.2%	-0.0%	0.2%	35.8M	-609.5M	-4.9M	0.20	1.71	50,499	10,113	1,361,659	367,175
2017-04-18	$17.36	$17.00	20.4%	5.8%	12.8%	16.9%	21.1%	0.0%	0.3%	28.1M	-510.8M	-4.8M	1.16	1.74	57,353	66,483	1,361,378	383,022
2017-04-19	$17.19	$17.00	20.8%	6.0%	13.4%	19.4%	21.1%	0.7%	-0.6%	24.3M	-431.8M	-4.7M	0.47	1.73	55,554	26,343	1,376,555	400,343
2017-04-20	$17.07	$17.00	20.3%	5.8%	13.8%	16.3%	20.6%	0.1%	-0.0%	18.2M	-363.4M	-4.6M	0.48	1.84	51,628	24,768	1,381,336	412,325
2017-04-21	$16.99	$17.00	20.3%	5.8%	13.9%	16.5%	20.4%	0.3%	-0.2%	16.5M	-307.5M	-4.6M	0.55	2.04	82,765	45,138	1,386,065	417,825
2017-04-24	$16.96	$17.00	17.8%	5.1%	13.6%	2.7%	18.3%	0.2%	0.1%	14.1M	-322.7M	-4.5M	0.30	1.87	66,817	19,851	1,180,278	314,495
2017-04-25	$16.67	$17.00	18.7%	5.4%	13.0%	7.7%	19.1%	0.7%	-0.2%	11.0M	-227.8M	-4.3M	0.40	1.85	48,526	19,337	1,194,995	318,958
2017-04-26	$16.57	$17.00	18.9%	5.4%	13.1%	8.9%	19.3%	1.1%	-0.2%	9.4M	-199.1M	-4.2M	0.48	1.82	52,928	25,152	1,203,545	323,861
2017-04-27	$16.39	$17.00	19.4%	5.5%	13.2%	11.8%	20.2%	1.5%	-0.1%	8.3M	-157.0M	-4.1M	0.45	1.99	84,134	37,951	1,217,398	330,964
2017-04-28	$16.31	$17.00	19.3%	5.5%	13.2%	10.9%	20.0%	2.1%	-0.1%	11.3M	-154.7M	-4.2M	0.39	1.85	60,286	23,772	1,258,583	339,564