SLV Options History — July 2017

In July 2017, SLV traded between $14.70 and $15.92. ATM implied volatility averaged 19.0%, placing in the 25.0% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded above realized volatility by 0.6% (HV 20d: 18.4%). Max pain ranged from $15.00 to $16.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.37.

Notable Days

2017-07-07: Highest Volume — 165,163 contracts
2017-07-07: Largest IV spike — 15.8% change
2017-07-10: Highest IV Rank — 42.8%
2017-07-10: Largest Expected Move — 6.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.33	$14.70	$15.92	$15.30	$15.92
Max Pain	$15.22	$15.00	$16.00	$16.00	$15.50
ATM IV	19.0%	18.0%	22.3%	18.3%	18.4%
Expected Move	5.4%	5.2%	6.3%	5.2%	5.3%
HV 20d	18.4%	13.6%	20.3%	14.2%	20.1%
HV 60d	16.2%	15.3%	16.9%	15.4%	15.8%
IV Rank	25.0%	16.0%	42.8%	16.0%	23.3%
IV Percentile	25.2%	13.9%	49.6%	19.0%	22.2%
Term Structure	0.0%	-0.4%	0.7%	0.2%	-0.2%
VWIV	19.2%	17.3%	22.1%	18.5%	18.3%
Skew 25d	-0.9%	-1.7%	-0.3%	-0.7%	-1.6%
Skew 10d	-1.3%	-3.3%	-0.2%	-0.8%	-3.3%
Call IV 25d	20.0%	18.7%	23.2%	19.1%	19.7%
Put IV 25d	19.1%	17.6%	22.4%	18.4%	18.1%
Bid-Ask Spread %	1.78	1.53	2.30	2.22	1.62
Gamma HHI	0.14	0.10	0.20	0.15	0.18
Net GEX	19.9M	8.3M	27.5M	12.4M	25.1M
Net DEX	-210.1M	-382.1M	6.6M	-94.6M	-382.1M
Net VEX	-3.6M	-3.8M	-3.1M	-3.4M	-3.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.20	0.78	0.35	0.34
Total Volume	75,891.25	43,251	165,163	81,327	43,251
Total OI	1,724,955.05	1,567,600	1,864,298	1,636,042	1,607,274

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
2017-07-03	$15.30	$16.00	18.3%	5.2%	14.2%	16.0%	18.5%	-0.7%	0.2%	12.4M	-94.6M	-3.4M	0.35	2.22	60,125	21,202	1,332,228	303,814
2017-07-05	$15.18	$16.00	18.9%	5.3%	13.6%	18.6%	18.8%	-1.3%	-0.1%	11.9M	-80.9M	-3.3M	0.50	1.79	71,014	35,429	1,351,381	303,344
2017-07-06	$15.16	$15.50	18.2%	5.2%	13.7%	16.8%	18.9%	-1.2%	-0.2%	11.1M	-81.9M	-3.3M	0.51	1.75	37,680	19,071	1,386,574	319,237
2017-07-07	$14.70	$15.50	21.1%	5.9%	16.5%	36.0%	21.7%	-0.4%	-0.3%	8.3M	6.6M	-3.1M	0.32	1.77	125,604	39,559	1,401,639	325,297
2017-07-10	$14.83	$15.00	22.3%	6.3%	17.1%	42.8%	22.1%	-0.8%	-0.4%	12.3M	-66.5M	-3.4M	0.25	1.64	119,739	29,798	1,431,254	323,611
2017-07-11	$14.99	$15.00	20.9%	5.9%	17.4%	35.1%	21.1%	-0.9%	-0.3%	19.5M	-154.6M	-3.5M	0.30	1.70	63,635	18,870	1,491,632	329,219
2017-07-12	$15.07	$15.00	19.9%	5.7%	17.7%	32.2%	20.3%	-1.0%	-0.3%	19.5M	-177.5M	-3.5M	0.30	1.84	62,748	18,802	1,506,407	335,256
2017-07-13	$14.85	$15.00	19.2%	5.5%	18.1%	27.5%	19.7%	-0.3%	-0.0%	17.2M	-110.6M	-3.3M	0.20	1.70	73,245	14,871	1,517,908	338,965
2017-07-14	$15.10	$15.00	18.8%	5.4%	19.5%	24.6%	19.3%	-0.7%	0.2%	21.0M	-182.6M	-3.5M	0.29	1.63	49,521	14,141	1,526,809	337,489
2017-07-17	$15.25	$15.00	18.8%	5.4%	19.9%	25.1%	19.3%	-0.6%	0.1%	21.9M	-209.1M	-3.6M	0.32	1.70	48,436	15,467	1,478,154	325,230
2017-07-18	$15.40	$15.00	18.6%	5.3%	19.9%	23.3%	18.6%	-1.2%	0.7%	24.4M	-253.1M	-3.7M	0.22	1.71	54,560	12,058	1,483,774	329,455
2017-07-19	$15.41	$15.00	18.0%	5.2%	20.0%	19.5%	18.9%	-0.4%	0.1%	25.1M	-242.5M	-3.6M	0.28	1.59	40,140	11,335	1,483,521	329,818
2017-07-20	$15.42	$15.00	18.0%	5.2%	20.0%	19.8%	18.3%	-0.9%	0.0%	27.5M	-237.2M	-3.6M	0.32	1.79	41,630	13,141	1,486,437	331,379
2017-07-21	$15.62	$15.00	18.3%	5.2%	20.3%	21.4%	18.4%	-0.6%	0.2%	23.1M	-327.4M	-3.7M	0.48	1.67	46,127	22,274	1,485,818	333,000
2017-07-24	$15.59	$15.00	18.8%	5.3%	20.1%	24.5%	19.2%	-1.7%	0.0%	22.3M	-295.5M	-3.7M	0.41	1.93	32,903	13,438	1,289,773	277,827
2017-07-25	$15.58	$15.00	18.8%	5.4%	20.0%	24.9%	18.9%	-0.9%	0.2%	22.7M	-293.0M	-3.7M	0.39	2.30	38,154	14,853	1,297,076	281,179
2017-07-26	$15.74	$15.00	19.0%	5.4%	20.1%	25.9%	19.0%	-1.1%	0.1%	24.8M	-342.1M	-3.8M	0.45	1.99	50,921	22,833	1,307,684	285,635
2017-07-27	$15.67	$15.50	18.2%	5.2%	20.0%	21.0%	18.3%	-0.9%	0.2%	23.0M	-315.3M	-3.7M	0.46	1.53	34,584	16,002	1,312,777	296,803
2017-07-28	$15.81	$15.50	18.3%	5.2%	19.9%	22.6%	17.3%	-1.4%	0.5%	24.8M	-361.8M	-3.8M	0.78	1.69	39,701	30,963	1,314,879	299,544
2017-07-31	$15.92	$15.50	18.4%	5.3%	20.1%	23.3%	18.3%	-1.6%	-0.2%	25.1M	-382.1M	-3.8M	0.34	1.62	32,167	11,084	1,303,689	303,585