SLV Options History — November 2019

In November 2019, SLV traded between $15.72 and $16.91. ATM implied volatility averaged 18.1%, placing in the 27.7% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 1.1% (HV 20d: 17.1%). Max pain ranged from $16.00 to $16.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.30.

Notable Days

2019-11-07: Highest Volume — 301,582 contracts
2019-11-15: Largest IV drop — 7.9% change
2019-11-04: Highest IV Rank — 44.1%
2019-11-04: Largest Expected Move — 6.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.04	$15.72	$16.91	$16.91	$15.90
Max Pain	$16.48	$16.00	$16.50	$16.00	$16.50
ATM IV	18.1%	15.1%	21.0%	20.6%	15.3%
Expected Move	5.2%	4.4%	6.2%	5.7%	4.6%
HV 20d	17.1%	14.4%	18.8%	14.6%	16.0%
HV 60d	26.1%	21.9%	27.4%	26.2%	21.9%
IV Rank	27.7%	10.4%	44.1%	41.8%	11.6%
IV Percentile	57.4%	30.6%	73.4%	73.0%	34.1%
Term Structure	-0.0%	-0.5%	0.5%	0.5%	-0.5%
VWIV	19.2%	16.1%	22.7%	20.1%	16.1%
Skew 25d	-2.2%	-3.4%	-1.1%	-3.1%	-1.7%
Skew 10d	-4.3%	-6.6%	-2.0%	-5.8%	-4.6%
Call IV 25d	20.1%	16.6%	23.5%	22.6%	17.1%
Put IV 25d	17.8%	14.7%	20.2%	19.5%	15.4%
Bid-Ask Spread %	1.28	0.98	1.57	1.23	0.98
Gamma HHI	0.15	0.13	0.19	0.16	0.16
Net GEX	39.5M	25.3M	62.9M	62.9M	44.5M
Net DEX	-828.3M	-1.42B	-549.6M	-1.42B	-769.5M
Net VEX	-6.7M	-7.8M	-6.1M	-7.8M	-6.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.30	0.07	0.78	0.78	0.28
Total Volume	102,937.35	38,909	301,582	82,248	48,473
Total OI	3,564,619.3	3,391,146	3,684,275	3,433,755	3,680,286

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
2019-11-01	$16.91	$16.00	20.6%	5.7%	14.6%	41.8%	20.1%	-3.1%	0.5%	62.9M	-1.42B	-7.8M	0.78	1.23	46,241	36,007	2,568,671	865,084
2019-11-04	$16.87	$16.50	21.0%	6.2%	14.4%	44.1%	22.5%	-3.4%	0.1%	62.0M	-1.38B	-7.6M	0.16	1.42	68,130	10,746	2,547,491	843,655
2019-11-05	$16.48	$16.50	19.7%	5.7%	15.5%	36.7%	22.7%	-2.6%	0.3%	47.9M	-1.09B	-7.3M	0.10	1.40	172,915	18,070	2,572,740	849,740
2019-11-06	$16.47	$16.50	19.6%	5.7%	15.5%	35.8%	21.0%	-3.1%	0.3%	50.0M	-1.10B	-7.3M	0.11	1.24	57,518	6,515	2,601,563	851,827
2019-11-07	$16.01	$16.50	19.4%	5.5%	17.7%	35.1%	20.6%	-1.1%	0.1%	26.8M	-727.9M	-6.8M	0.24	1.35	243,633	57,949	2,620,407	854,734
2019-11-08	$15.72	$16.50	19.1%	5.3%	18.8%	33.3%	21.2%	-1.6%	-0.0%	25.7M	-549.6M	-6.5M	0.38	1.36	142,206	53,822	2,631,961	861,497
2019-11-11	$15.76	$16.50	20.0%	5.7%	18.5%	38.1%	20.8%	-1.9%	0.0%	27.0M	-608.7M	-6.6M	0.33	1.57	70,408	23,178	2,658,606	871,796
2019-11-12	$15.72	$16.50	18.8%	5.4%	18.0%	31.4%	20.1%	-1.6%	-0.0%	25.3M	-569.0M	-6.4M	0.32	1.16	73,743	23,290	2,665,155	882,697
2019-11-13	$15.82	$16.50	19.2%	5.5%	18.2%	33.6%	19.8%	-2.4%	-0.0%	31.2M	-670.0M	-6.5M	0.21	1.19	61,592	12,887	2,704,078	888,580
2019-11-14	$15.89	$16.50	19.1%	5.5%	18.0%	33.2%	18.7%	-2.6%	0.3%	36.3M	-750.4M	-6.7M	0.58	1.52	37,916	21,917	2,727,995	892,578
2019-11-15	$15.85	$16.50	17.6%	5.0%	18.0%	24.6%	17.4%	-2.2%	-0.0%	31.3M	-658.8M	-6.3M	0.10	1.09	173,442	17,878	2,729,110	906,894
2019-11-18	$15.93	$16.50	17.5%	5.0%	18.1%	23.9%	18.5%	-2.0%	-0.2%	34.7M	-767.0M	-6.7M	0.23	1.26	79,743	18,308	2,692,607	854,993
2019-11-19	$16.01	$16.50	17.2%	4.9%	18.3%	22.2%	18.8%	-3.1%	0.1%	38.6M	-836.8M	-6.7M	0.34	1.36	41,410	13,894	2,724,477	869,302
2019-11-20	$16.04	$16.50	17.7%	5.1%	18.3%	25.0%	18.4%	-2.4%	-0.5%	40.0M	-873.0M	-6.7M	0.50	1.29	30,047	14,889	2,743,634	876,170
2019-11-21	$15.98	$16.50	17.2%	4.9%	17.4%	22.2%	18.7%	-2.3%	-0.0%	34.7M	-846.6M	-6.8M	0.12	1.34	51,977	6,123	2,758,321	886,801
2019-11-22	$15.89	$16.50	17.1%	4.9%	16.3%	21.5%	18.4%	-2.2%	-0.3%	38.3M	-730.2M	-6.5M	0.37	1.52	28,323	10,586	2,783,689	890,551
2019-11-25	$15.78	$16.50	16.0%	4.6%	16.1%	15.4%	16.5%	-1.7%	-0.2%	37.7M	-672.9M	-6.1M	0.35	1.08	81,964	28,312	2,742,065	859,142
2019-11-26	$15.97	$16.50	15.6%	4.6%	17.0%	13.2%	16.8%	-1.7%	-0.4%	49.3M	-823.4M	-6.2M	0.36	1.07	56,844	20,575	2,771,978	877,236
2019-11-27	$15.86	$16.50	15.1%	4.4%	16.9%	10.4%	16.5%	-1.9%	0.1%	45.2M	-725.3M	-6.1M	0.07	1.28	91,033	6,243	2,797,463	886,812
2019-11-29	$15.90	$16.50	15.3%	4.6%	16.0%	11.6%	16.1%	-1.7%	-0.5%	44.5M	-769.5M	-6.2M	0.28	0.98	37,925	10,548	2,790,980	889,306