SLV Options History — January 2019

In January 2019, SLV traded between $14.36 and $15.07. ATM implied volatility averaged 16.1%, placing in the 24.4% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 2.8% (HV 20d: 13.3%). Max pain ranged from $13.00 to $14.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.48.

Notable Days

2019-01-03: Highest Volume — 108,911 contracts
2019-01-04: Largest IV drop — 11.9% change
2019-01-03: Highest IV Rank — 73.8%
2019-01-03: Largest Expected Move — 5.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.67	$14.36	$15.07	$14.57	$15.07
Max Pain	$13.69	$13.00	$14.00	$13.50	$14.00
ATM IV	16.1%	14.5%	19.1%	17.5%	15.3%
Expected Move	4.7%	4.1%	5.5%	4.9%	4.5%
HV 20d	13.3%	12.1%	14.3%	13.1%	13.7%
HV 60d	15.4%	14.2%	16.0%	16.0%	14.2%
IV Rank	24.4%	0.0%	73.8%	47.4%	12.3%
IV Percentile	19.8%	0.0%	93.7%	64.3%	3.2%
Term Structure	0.2%	-0.3%	0.9%	0.1%	0.1%
VWIV	16.6%	14.0%	19.3%	17.8%	16.4%
Skew 25d	-1.5%	-3.1%	-0.5%	-2.5%	-2.1%
Skew 10d	-3.1%	-6.3%	-0.3%	-4.7%	-2.9%
Call IV 25d	17.5%	15.6%	20.9%	19.6%	17.2%
Put IV 25d	16.0%	14.5%	17.8%	17.1%	15.1%
Bid-Ask Spread %	1.50	1.09	2.08	1.78	1.25
Gamma HHI	0.20	0.15	0.25	0.16	0.25
Net GEX	24.6M	15.8M	29.8M	26.6M	29.7M
Net DEX	-474.7M	-599.6M	-285.2M	-537.4M	-520.9M
Net VEX	-3.0M	-3.2M	-2.8M	-3.0M	-3.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.48	0.16	1.44	0.20	0.21
Total Volume	53,153.19	15,767	108,911	87,517	65,060
Total OI	1,842,141.81	1,302,717	2,197,009	2,064,523	1,385,847

Daily Data (21 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
2019-01-02	$14.57	$13.50	17.5%	4.9%	13.1%	47.4%	17.8%	-2.5%	0.1%	26.6M	-537.4M	-3.0M	0.20	1.78	72,813	14,704	1,542,603	521,920
2019-01-03	$14.78	$13.00	19.1%	5.5%	13.4%	73.8%	19.3%	-3.1%	0.5%	28.5M	-599.6M	-3.2M	0.34	1.28	81,032	27,879	1,551,867	531,181
2019-01-04	$14.72	$13.00	16.9%	5.2%	13.6%	36.4%	18.5%	-2.4%	0.4%	27.6M	-563.3M	-3.1M	0.30	1.11	78,354	23,401	1,568,619	543,255
2019-01-07	$14.68	$13.00	16.8%	5.0%	13.6%	35.4%	17.6%	-2.0%	0.9%	27.6M	-537.0M	-3.0M	0.16	1.09	16,723	2,619	1,565,988	543,625
2019-01-08	$14.68	$13.00	16.1%	4.7%	13.6%	23.5%	16.8%	-1.5%	0.2%	27.3M	-529.2M	-3.0M	0.41	1.76	18,475	7,569	1,572,631	550,224
2019-01-09	$14.78	$13.00	16.8%	4.8%	13.3%	35.5%	16.7%	-1.3%	-0.1%	29.8M	-570.4M	-3.0M	0.56	1.56	50,044	27,992	1,573,897	555,589
2019-01-10	$14.62	$13.00	15.8%	4.6%	14.3%	19.4%	16.7%	-1.2%	0.0%	26.6M	-512.5M	-3.0M	0.45	1.52	30,324	13,633	1,600,705	571,746
2019-01-11	$14.64	$14.00	16.3%	4.7%	13.8%	26.4%	17.2%	-1.1%	0.3%	27.1M	-527.4M	-3.1M	0.70	1.45	21,679	15,235	1,612,153	578,634
2019-01-14	$14.66	$14.00	16.1%	4.6%	13.8%	22.9%	16.6%	-1.8%	0.8%	28.7M	-531.0M	-3.0M	0.64	1.43	24,814	15,996	1,606,242	572,928
2019-01-15	$14.62	$14.00	16.3%	4.7%	12.6%	26.7%	17.3%	-1.6%	-0.1%	26.1M	-502.3M	-3.0M	0.28	1.56	29,707	8,213	1,603,886	578,406
2019-01-16	$14.62	$14.00	16.0%	4.6%	12.6%	21.6%	16.6%	-1.1%	-0.3%	25.7M	-501.3M	-3.0M	0.43	1.48	28,753	12,226	1,602,755	582,631
2019-01-17	$14.57	$14.00	15.6%	4.5%	12.7%	15.6%	16.1%	-1.2%	0.1%	24.4M	-475.0M	-2.9M	0.50	1.54	36,246	17,969	1,609,306	584,882
2019-01-18	$14.39	$14.00	15.5%	4.4%	13.7%	13.3%	16.1%	-1.1%	-0.1%	15.8M	-391.6M	-2.9M	0.39	1.56	46,459	18,133	1,609,697	587,312
2019-01-22	$14.38	$14.00	15.7%	4.5%	13.2%	17.2%	15.9%	-1.5%	0.1%	15.9M	-285.2M	-2.8M	0.52	2.08	31,719	16,502	923,521	379,196
2019-01-23	$14.41	$14.00	15.3%	4.4%	12.4%	10.0%	15.4%	-0.5%	0.3%	16.4M	-299.1M	-2.9M	0.71	1.24	18,719	13,340	937,577	390,164
2019-01-24	$14.36	$14.00	14.5%	4.1%	12.1%	0.0%	14.0%	-1.1%	0.5%	16.3M	-286.3M	-2.8M	0.77	1.20	12,208	9,455	945,458	394,354
2019-01-25	$14.73	$14.00	15.2%	4.3%	13.8%	10.9%	15.7%	-0.8%	-0.3%	20.1M	-402.3M	-2.9M	0.35	1.79	46,944	16,386	948,487	395,253
2019-01-28	$14.78	$14.00	15.6%	4.5%	13.4%	17.0%	15.8%	-1.1%	0.4%	22.3M	-420.1M	-2.9M	1.44	1.83	6,466	9,301	951,796	387,188
2019-01-29	$14.86	$14.00	16.1%	4.7%	13.2%	26.5%	16.4%	-1.3%	-0.1%	25.8M	-455.2M	-2.9M	0.45	1.34	30,816	13,792	965,333	390,039
2019-01-30	$15.07	$14.00	15.8%	4.5%	13.7%	20.8%	16.4%	-1.7%	0.3%	28.2M	-521.6M	-3.0M	0.16	1.61	72,555	11,962	975,277	392,806
2019-01-31	$15.07	$14.00	15.3%	4.5%	13.7%	12.3%	16.4%	-2.1%	0.1%	29.7M	-520.9M	-3.0M	0.21	1.25	53,649	11,411	988,486	397,361