SLV Options History — February 2018

In February 2018, SLV traded between $15.39 and $16.27. ATM implied volatility averaged 18.7%, placing in the 49.8% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded below realized volatility by 3.0% (HV 20d: 21.7%). Max pain ranged from $15.50 to $16.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.52.

Notable Days

2018-02-02: Highest Volume — 141,152 contracts
2018-02-05: Largest IV spike — 9.8% change
2018-02-14: Highest IV Rank — 78.2%
2018-02-14: Largest Expected Move — 5.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.65	$15.39	$16.27	$16.27	$15.45
Max Pain	$15.63	$15.50	$16.00	$16.00	$15.50
ATM IV	18.7%	17.2%	20.7%	17.9%	17.2%
Expected Move	5.4%	4.8%	5.9%	5.2%	5.1%
HV 20d	21.7%	16.8%	23.6%	16.8%	20.1%
HV 60d	17.6%	16.3%	18.2%	16.3%	17.3%
IV Rank	49.8%	30.2%	78.2%	38.6%	30.2%
IV Percentile	61.8%	25.0%	92.9%	45.2%	25.0%
Term Structure	0.1%	-0.3%	0.7%	0.3%	0.0%
VWIV	19.3%	17.3%	21.0%	18.2%	18.5%
Skew 25d	-1.6%	-2.7%	-0.2%	-0.6%	-1.9%
Skew 10d	-3.0%	-5.8%	-0.1%	-0.3%	-2.5%
Call IV 25d	20.4%	18.6%	22.2%	18.6%	19.3%
Put IV 25d	18.8%	17.4%	20.7%	18.0%	17.4%
Bid-Ask Spread %	2.48	1.95	3.33	2.08	2.77
Gamma HHI	0.15	0.12	0.20	0.20	0.13
Net GEX	15.7M	8.2M	27.7M	27.7M	12.6M
Net DEX	-223.2M	-386.4M	-120.2M	-386.4M	-175.2M
Net VEX	-3.5M	-3.7M	-3.2M	-3.6M	-3.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.26	0.86	0.49	0.76
Total Volume	72,402.368	46,728	141,152	49,575	46,728
Total OI	1,349,165.421	1,262,384	1,432,879	1,306,371	1,344,574

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
2018-02-01	$16.27	$16.00	17.9%	5.2%	16.8%	38.6%	18.2%	-0.6%	0.3%	27.7M	-386.4M	-3.6M	0.49	2.08	33,337	16,238	997,504	308,867
2018-02-02	$15.65	$16.00	18.2%	5.2%	21.7%	42.9%	19.0%	-1.8%	0.1%	12.3M	-180.7M	-3.4M	0.82	2.44	77,554	63,598	1,001,508	313,221
2018-02-05	$15.76	$16.00	20.0%	5.7%	22.0%	67.3%	20.0%	-2.0%	-0.1%	17.5M	-244.9M	-3.5M	0.50	3.33	43,815	21,928	1,018,166	311,902
2018-02-06	$15.64	$16.00	18.4%	5.3%	22.0%	46.5%	19.0%	-2.0%	0.0%	15.2M	-208.2M	-3.3M	0.49	2.34	44,962	21,885	1,025,088	317,033
2018-02-07	$15.40	$16.00	18.8%	5.4%	22.5%	51.8%	19.5%	-0.2%	-0.2%	8.2M	-120.2M	-3.2M	0.48	2.10	56,127	26,837	1,030,205	324,021
2018-02-08	$15.46	$15.50	19.9%	5.6%	22.6%	66.0%	20.6%	-1.0%	-0.3%	10.5M	-149.6M	-3.3M	0.38	2.39	54,999	20,659	1,044,865	326,857
2018-02-09	$15.39	$15.50	19.4%	5.6%	22.6%	60.3%	20.0%	-0.7%	-0.0%	10.4M	-126.8M	-3.3M	0.51	2.47	56,770	28,926	1,062,668	332,504
2018-02-12	$15.59	$15.50	19.0%	5.4%	22.2%	54.0%	19.8%	-1.7%	0.0%	15.1M	-199.6M	-3.4M	0.34	2.76	56,221	19,150	1,059,942	326,981
2018-02-13	$15.63	$15.50	19.4%	5.6%	22.3%	59.9%	20.2%	-2.2%	-0.1%	16.9M	-229.4M	-3.5M	0.55	2.60	36,790	20,295	1,074,740	328,638
2018-02-14	$15.91	$15.50	20.7%	5.9%	23.0%	78.2%	21.0%	-1.7%	-0.0%	25.3M	-337.0M	-3.7M	0.26	2.41	78,163	20,367	1,079,286	331,597
2018-02-15	$15.92	$15.50	20.0%	5.7%	22.9%	67.7%	20.4%	-2.5%	0.0%	26.0M	-338.6M	-3.7M	0.37	1.95	50,567	18,776	1,089,558	333,881
2018-02-16	$15.74	$15.50	18.8%	5.4%	23.2%	51.0%	19.7%	-2.7%	-0.0%	17.1M	-272.8M	-3.6M	0.35	2.38	50,598	17,769	1,097,446	335,433
2018-02-20	$15.53	$15.50	18.9%	5.4%	23.6%	52.5%	19.7%	-2.2%	0.5%	13.3M	-204.8M	-3.4M	0.34	2.18	58,139	19,965	975,037	287,347
2018-02-21	$15.54	$15.50	18.2%	5.3%	23.6%	43.1%	18.9%	-1.7%	0.7%	13.2M	-205.8M	-3.4M	0.66	2.58	45,173	29,606	994,275	294,245
2018-02-22	$15.66	$15.50	17.8%	5.0%	20.7%	38.0%	18.5%	-1.7%	0.7%	14.8M	-236.6M	-3.5M	0.86	3.06	37,084	31,881	1,004,353	302,265
2018-02-23	$15.59	$15.50	17.3%	4.8%	20.2%	31.0%	17.3%	-1.2%	0.7%	14.0M	-217.4M	-3.5M	0.73	2.62	29,988	21,958	1,015,631	314,975
2018-02-26	$15.68	$15.50	17.4%	5.2%	20.1%	32.6%	17.9%	-1.2%	-0.3%	15.0M	-222.2M	-3.4M	0.59	2.23	39,126	23,154	1,001,789	300,878
2018-02-27	$15.49	$15.50	17.5%	5.0%	20.1%	33.8%	18.3%	-1.6%	-0.1%	12.8M	-185.3M	-3.5M	0.42	2.37	39,907	16,605	1,020,480	306,383
2018-02-28	$15.45	$15.50	17.2%	5.1%	20.1%	30.2%	18.5%	-1.9%	0.0%	12.6M	-175.2M	-3.4M	0.76	2.77	26,489	20,239	1,032,888	311,686