SLV Options History — May 2018

In May 2018, SLV traded between $15.23 and $15.76. ATM implied volatility averaged 16.8%, placing in the 25.1% IV rank vs the trailing year. The 30-day expected move averaged 4.8%. IV traded above realized volatility by 1.3% (HV 20d: 15.6%). Max pain ranged from $15.50 to $15.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 18 of 22 days. Put/call ratio averaged 0.38.

Notable Days

2018-05-15: Highest Volume — 131,046 contracts
2018-05-31: Largest IV drop — 11.2% change
2018-05-10: Highest IV Rank — 40.1%
2018-05-10: Largest Expected Move — 5.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.52	$15.23	$15.76	$15.23	$15.45
Max Pain	$15.50	$15.50	$15.50	$15.50	$15.50
ATM IV	16.8%	15.2%	17.9%	17.6%	15.2%
Expected Move	4.8%	4.3%	5.2%	5.0%	4.6%
HV 20d	15.6%	11.5%	18.3%	17.5%	11.5%
HV 60d	15.8%	15.3%	16.4%	16.2%	15.3%
IV Rank	25.1%	2.1%	40.1%	35.6%	2.1%
IV Percentile	28.0%	0.4%	63.1%	48.8%	0.4%
Term Structure	0.4%	-1.4%	1.8%	-0.0%	0.3%
VWIV	17.4%	15.4%	19.3%	19.3%	16.6%
Skew 25d	-2.4%	-3.1%	-1.3%	-3.1%	-2.6%
Skew 10d	-4.4%	-7.3%	-2.4%	-7.3%	-3.4%
Call IV 25d	18.9%	17.9%	20.5%	20.5%	17.9%
Put IV 25d	16.5%	15.3%	17.5%	17.4%	15.3%
Bid-Ask Spread %	1.80	1.56	2.25	1.96	1.61
Gamma HHI	0.17	0.13	0.20	0.13	0.19
Net GEX	25.8M	16.3M	33.9M	16.7M	24.8M
Net DEX	-305.9M	-437.5M	-200.4M	-200.4M	-267.7M
Net VEX	-3.7M	-4.0M	-3.4M	-3.8M	-3.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.38	0.22	0.57	0.22	0.50
Total Volume	67,058.318	38,400	131,046	105,561	59,543
Total OI	1,738,545.773	1,636,477	1,833,265	1,708,452	1,712,606

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
2018-05-01	$15.23	$15.50	17.6%	5.0%	17.5%	35.6%	19.3%	-3.1%	-0.0%	16.7M	-200.4M	-3.8M	0.22	1.96	86,525	19,036	1,335,788	372,664
2018-05-02	$15.44	$15.50	17.6%	5.0%	18.1%	35.1%	17.8%	-2.9%	-0.1%	24.5M	-306.0M	-4.0M	0.32	1.83	56,497	17,820	1,372,350	380,459
2018-05-03	$15.48	$15.50	17.6%	5.1%	18.0%	35.1%	17.9%	-2.9%	0.0%	26.1M	-316.5M	-4.0M	0.38	2.00	38,996	14,944	1,371,446	385,908
2018-05-04	$15.54	$15.50	16.8%	5.0%	18.0%	24.8%	17.9%	-2.2%	0.0%	28.6M	-338.0M	-3.9M	0.30	1.81	39,744	12,058	1,372,065	386,357
2018-05-07	$15.51	$15.50	17.4%	5.1%	17.8%	32.8%	18.3%	-2.7%	0.5%	22.4M	-304.8M	-3.8M	0.57	1.83	24,490	13,910	1,364,116	382,249
2018-05-08	$15.53	$15.50	17.4%	5.0%	17.8%	33.0%	18.2%	-2.5%	0.1%	27.0M	-329.6M	-3.8M	0.37	2.03	32,827	12,129	1,369,848	386,797
2018-05-09	$15.53	$15.50	17.1%	5.0%	17.6%	27.9%	17.9%	-2.7%	0.7%	27.1M	-328.6M	-3.8M	0.33	2.25	39,295	12,902	1,381,318	388,846
2018-05-10	$15.76	$15.50	17.9%	5.2%	17.9%	40.1%	17.7%	-2.7%	0.1%	33.9M	-437.5M	-4.0M	0.24	1.70	62,394	15,156	1,386,354	391,462
2018-05-11	$15.70	$15.50	16.2%	4.8%	17.6%	16.3%	17.2%	-2.7%	0.4%	28.9M	-388.1M	-3.9M	0.42	1.81	52,592	22,307	1,391,701	392,654
2018-05-14	$15.57	$15.50	16.4%	4.7%	17.9%	18.9%	17.0%	-2.9%	0.5%	25.4M	-304.2M	-3.7M	0.46	1.64	45,589	20,792	1,368,369	397,857
2018-05-15	$15.35	$15.50	17.4%	5.0%	18.3%	33.0%	18.2%	-1.3%	0.1%	16.3M	-203.0M	-3.6M	0.40	1.97	93,854	37,192	1,377,187	407,454
2018-05-16	$15.42	$15.50	17.1%	4.9%	16.2%	29.0%	17.3%	-2.4%	0.2%	22.2M	-257.2M	-3.7M	0.37	1.56	49,777	18,604	1,399,321	410,607
2018-05-17	$15.47	$15.50	16.9%	4.8%	16.1%	25.3%	17.3%	-1.8%	0.2%	25.2M	-277.2M	-3.7M	0.39	1.82	36,219	13,989	1,419,778	411,012
2018-05-18	$15.48	$15.50	16.5%	4.7%	16.1%	20.7%	17.0%	-1.3%	-0.1%	32.1M	-274.0M	-3.6M	0.28	1.72	57,613	15,927	1,420,647	412,618
2018-05-21	$15.55	$15.50	16.7%	4.8%	12.3%	22.3%	17.2%	-1.8%	0.9%	25.8M	-306.9M	-3.6M	0.28	1.66	42,862	12,054	1,293,900	342,577
2018-05-22	$15.57	$15.50	16.6%	4.8%	12.0%	22.0%	17.2%	-2.1%	1.1%	26.7M	-319.6M	-3.6M	0.40	1.87	37,809	15,014	1,302,858	345,278
2018-05-23	$15.51	$15.50	17.1%	5.0%	11.7%	28.8%	17.7%	-1.8%	1.1%	25.5M	-290.8M	-3.6M	0.39	1.80	44,037	17,209	1,310,490	347,108
2018-05-24	$15.71	$15.50	16.1%	4.5%	12.6%	14.5%	16.8%	-2.3%	1.2%	31.1M	-388.5M	-3.7M	0.34	1.78	51,706	17,462	1,329,279	352,251
2018-05-25	$15.54	$15.50	15.8%	4.3%	13.2%	11.3%	15.4%	-2.0%	1.8%	26.7M	-306.3M	-3.6M	0.46	1.72	50,022	23,086	1,327,921	355,704
2018-05-29	$15.45	$15.50	16.1%	4.7%	12.7%	14.4%	17.0%	-3.1%	0.6%	24.1M	-272.1M	-3.6M	0.53	1.63	45,571	24,235	1,327,223	355,667
2018-05-30	$15.55	$15.50	17.1%	4.6%	12.2%	28.5%	16.5%	-2.7%	-1.4%	27.5M	-312.2M	-3.6M	0.43	1.64	49,893	21,602	1,340,908	367,005
2018-05-31	$15.45	$15.50	15.2%	4.6%	11.5%	2.1%	16.6%	-2.6%	0.3%	24.8M	-267.7M	-3.4M	0.50	1.61	39,788	19,755	1,344,581	368,025