SLV Options History — March 2020

In March 2020, SLV traded between $11.14 and $16.30. ATM implied volatility averaged 49.8%, placing in the 72.8% IV rank vs the trailing year. The 30-day expected move averaged 14.5%. IV traded below realized volatility by 2.9% (HV 20d: 52.6%). Max pain ranged from $16.00 to $17.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.36.

Notable Days

  • 2020-03-13: Highest Volume — 482,411 contracts
  • 2020-03-13: Largest IV spike — 60.9% change
  • 2020-03-09: Highest IV Rank — 100.0%
  • 2020-03-18: Largest Expected Move — 27.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.91$11.14$16.30$15.61$13.07
Max Pain$16.14$16.00$17.00$17.00$16.00
ATM IV49.8%22.0%94.7%22.0%44.4%
Expected Move14.5%6.9%27.1%7.2%13.3%
HV 20d52.6%29.7%76.3%29.7%72.9%
HV 60d34.9%22.4%46.9%22.6%46.9%
IV Rank72.8%38.2%100.0%49.7%38.2%
IV Percentile95.3%76.6%100.0%76.6%95.2%
Term Structure-1.6%-4.8%0.2%0.1%-0.1%
VWIV51.9%25.6%94.7%26.8%47.6%
Skew 25d2.0%-6.2%16.3%-1.8%1.0%
Skew 10d3.2%-11.6%29.5%-4.2%2.2%
Call IV 25d50.1%24.0%87.5%24.0%45.1%
Put IV 25d52.0%21.8%103.7%22.1%46.1%
Bid-Ask Spread %2.601.204.141.602.27
Gamma HHI0.110.070.160.130.09
Net GEX19.0M1.4M51.4M22.7M7.9M
Net DEX-64.9M-847.3M643.4M-153.7M114.1M
Net VEX-7.6M-9.1M-5.6M-7.1M-7.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.360.111.440.270.37
Total Volume246,902.773126,189482,411199,138140,398
Total OI4,125,972.4093,779,5654,442,5033,779,5654,222,735

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-03-02$15.61$17.0022.0%7.2%29.7%49.7%26.8%-1.8%0.1%22.7M-153.7M-7.1M0.271.60156,66942,4692,777,2021,002,363
2020-03-03$15.99$17.0025.6%8.3%30.5%70.1%30.8%-4.5%-0.6%40.1M-526.0M-8.0M0.211.94348,04474,1372,843,1061,007,123
2020-03-04$16.06$17.0022.1%6.9%30.6%50.4%25.6%-4.0%-0.3%42.2M-553.9M-8.1M0.221.20103,68222,5072,929,5211,039,398
2020-03-05$16.30$16.0028.0%7.3%31.1%84.0%28.9%-6.2%-0.9%51.4M-847.3M-8.9M0.111.59192,77521,9922,961,5931,045,325
2020-03-06$16.18$16.0027.5%7.6%30.9%81.3%29.3%-5.9%-1.0%48.7M-757.1M-8.8M0.191.82224,23843,2683,007,4451,046,765
2020-03-09$15.82$16.0032.9%9.1%31.8%100.0%33.7%-5.4%-1.0%38.0M-546.1M-9.1M0.271.80220,14259,7062,943,8031,040,180
2020-03-10$15.77$16.0025.0%7.1%31.7%59.7%25.8%-4.0%-0.2%36.5M-381.1M-8.1M0.321.49159,01350,2153,006,1681,035,484
2020-03-11$15.64$16.0026.7%7.7%31.7%68.7%27.5%-2.6%0.2%30.1M-287.9M-8.4M0.531.52121,28963,9342,984,3301,055,893
2020-03-12$14.62$16.0031.8%8.9%39.2%94.6%31.7%0.7%-0.9%3.2M274.6M-7.3M0.702.52196,124137,9742,963,3791,101,257
2020-03-13$13.60$16.0051.2%14.1%45.3%100.0%52.0%9.7%-4.2%5.4M438.3M-6.8M1.443.54197,416284,9953,031,5601,095,327
2020-03-16$11.97$16.0067.9%19.2%61.3%100.0%65.9%9.5%-2.7%1.4M643.4M-5.6M0.613.76277,201168,3202,998,5841,168,095
2020-03-17$11.91$16.0077.3%22.1%59.4%100.0%77.4%8.9%-3.3%5.1M430.1M-6.5M0.333.51246,03080,3063,127,1871,155,707
2020-03-18$11.14$16.0094.7%27.1%60.8%100.0%94.7%16.3%-3.7%4.8M426.3M-6.3M0.283.87176,28749,0173,234,7041,178,914
2020-03-19$11.40$16.0080.7%23.3%62.5%82.8%80.5%12.3%-4.8%4.4M421.9M-6.2M0.224.00184,59540,9923,241,8551,169,136
2020-03-20$11.65$16.0072.3%20.7%63.5%72.5%73.0%8.0%0.1%5.0M360.8M-6.5M0.262.53152,12239,4083,266,9701,175,533
2020-03-23$12.36$16.0070.9%21.0%69.0%70.8%73.8%6.1%-1.7%7.4M106.4M-7.3M0.223.42177,26939,7632,980,6581,089,838
2020-03-24$13.27$16.0067.0%20.0%75.5%66.1%70.2%3.0%-2.8%12.4M-174.8M-8.4M0.154.14214,98031,2423,036,5711,103,231
2020-03-25$13.52$16.0059.7%18.0%76.2%57.1%64.2%1.6%-2.1%13.9M-185.8M-8.4M0.223.12145,55131,9873,047,3071,107,204
2020-03-26$13.44$16.0056.3%16.8%76.3%52.9%60.5%0.1%-1.7%12.4M-118.6M-8.2M0.283.18129,19635,9673,058,5831,122,115
2020-03-27$13.49$16.0058.5%18.0%73.8%55.6%64.2%0.2%-2.1%15.9M-146.7M-8.3M0.442.13117,83351,6143,090,0691,128,719
2020-03-30$13.14$16.0052.4%16.0%73.9%48.1%57.7%0.5%-0.6%8.4M35.7M-7.5M0.262.21143,33837,8563,044,5981,105,858
2020-03-31$13.07$16.0044.4%13.3%72.9%38.2%47.6%1.0%-0.1%7.9M114.1M-7.0M0.372.27102,71537,6833,114,8511,107,884