SLV Options History — May 2017

In May 2017, SLV traded between $15.29 and $16.47. ATM implied volatility averaged 18.5%, placing in the 7.5% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded above realized volatility by 3.2% (HV 20d: 15.2%). Max pain ranged from $16.00 to $17.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.27.

Notable Days

2017-05-17: Highest Volume — 138,490 contracts
2017-05-25: Largest IV drop — 8.6% change
2017-05-04: Highest IV Rank — 21.4%
2017-05-03: Largest Expected Move — 6.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.87	$15.29	$16.47	$16.00	$16.40
Max Pain	$16.18	$16.00	$17.00	$17.00	$16.00
ATM IV	18.5%	16.5%	21.2%	20.5%	18.1%
Expected Move	5.4%	4.7%	6.3%	6.2%	5.5%
HV 20d	15.2%	12.3%	18.2%	14.1%	16.0%
HV 60d	16.6%	15.8%	17.5%	16.4%	15.8%
IV Rank	7.5%	0.0%	21.4%	17.6%	8.2%
IV Percentile	7.7%	0.0%	23.4%	16.7%	7.9%
Term Structure	0.1%	-0.3%	0.8%	0.2%	0.1%
VWIV	19.2%	17.0%	22.0%	21.6%	19.3%
Skew 25d	-0.5%	-1.8%	1.6%	1.6%	-1.8%
Skew 10d	-0.8%	-3.2%	2.9%	2.7%	-3.0%
Call IV 25d	19.4%	17.6%	22.2%	20.5%	20.2%
Put IV 25d	18.9%	16.4%	22.4%	22.1%	18.4%
Bid-Ask Spread %	1.75	1.57	1.94	1.73	1.66
Gamma HHI	0.11	0.09	0.15	0.11	0.14
Net GEX	17.3M	7.2M	28.8M	9.1M	28.0M
Net DEX	-204.6M	-440.3M	4.8M	-110.9M	-417.0M
Net VEX	-4.1M	-4.4M	-3.6M	-4.0M	-4.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.27	0.11	0.52	0.42	0.35
Total Volume	94,516.364	45,416	138,490	133,486	75,430
Total OI	1,740,636.091	1,583,422	1,912,428	1,583,422	1,693,185

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
2017-05-01	$16.00	$17.00	20.5%	6.2%	14.1%	17.6%	21.6%	1.6%	0.2%	9.1M	-110.9M	-4.0M	0.42	1.73	94,129	39,357	1,253,901	329,521
2017-05-02	$15.94	$16.50	19.5%	5.9%	14.1%	12.3%	21.5%	1.1%	0.4%	10.0M	-108.8M	-3.9M	0.40	1.92	60,979	24,621	1,299,948	345,941
2017-05-03	$15.65	$16.50	20.8%	6.3%	14.5%	19.6%	22.0%	1.5%	-0.3%	7.5M	-37.8M	-3.8M	0.24	1.77	98,835	23,322	1,317,698	353,475
2017-05-04	$15.45	$16.50	21.2%	6.1%	14.7%	21.4%	21.6%	0.2%	-0.2%	7.2M	-10.9M	-3.7M	0.31	1.76	89,251	27,673	1,357,224	358,149
2017-05-05	$15.49	$16.50	20.7%	6.0%	14.9%	18.7%	21.8%	-0.1%	0.1%	8.8M	-28.8M	-3.8M	0.42	1.82	63,622	26,640	1,375,480	365,764
2017-05-08	$15.43	$16.50	19.7%	5.7%	14.7%	13.2%	20.6%	0.3%	0.3%	7.2M	-17.1M	-3.6M	0.25	1.84	73,494	18,451	1,362,517	357,276
2017-05-09	$15.29	$16.50	18.6%	5.5%	14.7%	7.2%	19.5%	0.1%	0.5%	7.6M	4.8M	-3.6M	0.19	1.74	86,544	16,255	1,391,106	358,702
2017-05-10	$15.36	$16.00	17.3%	5.1%	12.3%	0.2%	18.1%	0.3%	0.5%	10.1M	-17.5M	-3.6M	0.13	1.78	100,815	13,478	1,421,961	359,614
2017-05-11	$15.46	$16.00	17.7%	5.2%	12.3%	2.2%	18.9%	-1.0%	0.3%	13.7M	-80.5M	-3.8M	0.15	1.59	73,261	11,162	1,462,723	362,481
2017-05-12	$15.56	$16.00	17.6%	5.2%	12.5%	2.1%	18.3%	-0.7%	0.8%	17.6M	-125.8M	-3.9M	0.15	1.83	70,506	10,674	1,489,720	363,282
2017-05-15	$15.75	$16.00	17.4%	5.0%	13.8%	0.6%	18.8%	-1.0%	0.4%	18.4M	-198.0M	-4.1M	0.11	1.72	103,485	11,665	1,474,977	352,369
2017-05-16	$15.94	$16.00	17.1%	4.9%	14.9%	0.0%	17.6%	-0.6%	-0.1%	19.9M	-257.3M	-4.1M	0.18	1.72	76,815	13,746	1,493,467	354,198
2017-05-17	$15.99	$16.00	18.3%	5.2%	14.9%	6.2%	18.8%	-1.4%	-0.1%	21.5M	-297.5M	-4.3M	0.18	1.94	117,127	21,363	1,511,360	357,347
2017-05-18	$15.74	$16.00	18.1%	5.2%	15.5%	5.0%	18.2%	-0.4%	-0.1%	20.5M	-169.2M	-4.1M	0.26	1.60	79,618	20,818	1,528,159	365,116
2017-05-19	$15.95	$16.00	18.1%	5.2%	16.7%	5.3%	18.0%	-1.0%	-0.1%	15.6M	-267.3M	-4.3M	0.32	1.84	84,151	26,907	1,540,893	371,535
2017-05-22	$16.23	$16.00	18.8%	5.4%	18.2%	9.1%	19.3%	-1.2%	-0.1%	26.2M	-394.7M	-4.4M	0.18	1.62	76,237	13,926	1,326,117	313,500
2017-05-23	$16.14	$16.00	18.2%	5.1%	17.4%	5.8%	18.5%	-1.2%	-0.2%	25.8M	-353.5M	-4.4M	0.52	1.74	55,723	28,886	1,331,005	316,904
2017-05-24	$16.26	$16.00	18.0%	5.2%	17.6%	4.9%	18.1%	-1.1%	-0.2%	25.6M	-379.6M	-4.4M	0.39	1.57	38,427	14,993	1,336,602	331,627
2017-05-25	$16.24	$16.00	16.5%	4.7%	17.2%	0.0%	17.0%	-1.2%	0.3%	25.8M	-363.6M	-4.3M	0.28	1.80	35,375	10,041	1,339,646	334,440
2017-05-26	$16.42	$16.00	16.6%	4.8%	17.6%	0.7%	17.0%	-1.2%	-0.2%	26.9M	-440.3M	-4.4M	0.20	1.72	56,350	11,537	1,346,662	334,876
2017-05-30	$16.47	$16.00	17.2%	5.0%	16.0%	3.7%	18.2%	-1.6%	0.3%	28.8M	-430.5M	-4.3M	0.38	1.71	60,770	22,901	1,326,863	326,663
2017-05-31	$16.40	$16.00	18.1%	5.5%	16.0%	8.2%	19.3%	-1.8%	0.1%	28.0M	-417.0M	-4.4M	0.35	1.66	55,689	19,741	1,358,186	334,999