SLV Options History — April 2020

In April 2020, SLV traded between $12.98 and $14.68. ATM implied volatility averaged 43.3%, placing in the 36.8% IV rank vs the trailing year. The 30-day expected move averaged 12.5%. IV traded below realized volatility by 8.6% (HV 20d: 51.9%). Max pain ranged from $13.00 to $16.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.26.

Notable Days

2020-04-14: Highest Volume — 513,298 contracts
2020-04-21: Largest IV spike — 18.8% change
2020-04-07: Highest IV Rank — 45.3%
2020-04-07: Largest Expected Move — 14.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.08	$12.98	$14.68	$12.98	$13.97
Max Pain	$13.67	$13.00	$16.00	$16.00	$14.00
ATM IV	43.3%	34.7%	50.1%	46.8%	34.7%
Expected Move	12.5%	10.6%	14.1%	14.1%	10.8%
HV 20d	51.9%	31.1%	77.1%	72.7%	33.1%
HV 60d	48.9%	46.8%	49.7%	46.8%	49.5%
IV Rank	36.8%	26.3%	45.3%	41.2%	26.3%
IV Percentile	91.8%	87.3%	95.2%	95.2%	87.3%
Term Structure	-0.5%	-1.8%	1.0%	-0.1%	0.4%
VWIV	46.3%	39.6%	54.0%	50.8%	39.6%
Skew 25d	-1.7%	-7.1%	3.1%	3.1%	-0.8%
Skew 10d	-3.2%	-11.8%	5.5%	5.5%	-0.7%
Call IV 25d	46.9%	37.9%	54.9%	47.0%	38.0%
Put IV 25d	45.2%	36.6%	51.9%	50.1%	37.2%
Bid-Ask Spread %	2.30	2.08	2.89	2.09	2.14
Gamma HHI	0.09	0.08	0.10	0.09	0.08
Net GEX	21.6M	8.4M	28.2M	8.4M	23.0M
Net DEX	-538.6M	-789.4M	42.2M	42.2M	-522.2M
Net VEX	-9.3M	-10.2M	-7.0M	-7.0M	-8.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.26	0.08	0.56	0.11	0.39
Total Volume	211,738.048	113,783	513,298	268,129	172,689
Total OI	3,998,113.095	3,651,899	4,483,024	3,731,848	4,073,907

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
2020-04-01	$12.98	$16.00	46.8%	14.1%	72.7%	41.2%	50.8%	3.1%	-0.1%	8.4M	42.2M	-7.0M	0.11	2.09	240,662	27,467	2,716,196	1,015,652
2020-04-02	$13.55	$13.00	49.4%	14.0%	74.7%	44.3%	50.7%	0.7%	-0.4%	14.2M	-244.9M	-8.5M	0.32	2.30	104,619	33,942	2,900,038	1,024,567
2020-04-03	$13.41	$13.00	48.4%	13.8%	74.7%	43.1%	49.1%	-1.0%	0.6%	13.4M	-152.4M	-8.0M	0.17	2.52	146,342	25,078	2,927,727	1,028,523
2020-04-06	$14.05	$13.00	49.3%	14.1%	77.1%	44.3%	51.7%	-2.4%	-0.2%	19.2M	-452.5M	-9.0M	0.10	2.43	313,390	32,552	2,933,000	984,183
2020-04-07	$13.99	$13.00	50.1%	14.1%	77.1%	45.3%	51.9%	-1.4%	-0.8%	19.9M	-439.5M	-9.1M	0.12	2.89	267,409	30,956	3,065,157	985,615
2020-04-08	$13.97	$13.00	43.3%	12.3%	77.1%	36.9%	45.1%	-1.1%	-0.1%	17.8M	-341.4M	-8.6M	0.17	2.20	109,005	18,521	3,016,592	1,000,652
2020-04-09	$14.32	$13.00	45.3%	12.7%	74.2%	39.4%	47.6%	-2.1%	-1.4%	20.5M	-536.6M	-9.2M	0.16	2.49	265,783	43,517	3,052,485	1,006,271
2020-04-13	$14.47	$13.00	49.5%	14.1%	69.3%	44.5%	54.0%	-5.3%	-1.6%	22.5M	-651.2M	-9.6M	0.15	2.24	198,857	30,504	3,113,155	987,518
2020-04-14	$14.68	$13.00	47.0%	13.5%	49.1%	41.4%	50.9%	-7.1%	-1.8%	25.3M	-760.6M	-9.9M	0.08	2.10	476,521	36,777	3,182,946	993,254
2020-04-15	$14.45	$13.00	42.5%	12.2%	49.7%	36.0%	44.5%	-6.1%	0.3%	23.5M	-639.3M	-9.8M	0.30	2.13	108,211	32,321	3,331,855	1,004,798
2020-04-16	$14.45	$14.00	40.9%	11.7%	41.0%	33.9%	43.0%	-4.5%	-0.8%	23.9M	-632.7M	-9.9M	0.19	2.21	117,808	22,798	3,411,149	1,017,521
2020-04-17	$14.11	$14.00	38.6%	11.1%	42.8%	31.1%	41.4%	-3.1%	-0.5%	21.6M	-518.6M	-9.5M	0.46	2.08	99,683	45,967	3,463,293	1,019,731
2020-04-20	$14.28	$14.00	37.3%	10.7%	42.6%	29.5%	41.3%	-2.1%	-0.8%	25.0M	-669.9M	-9.4M	0.41	2.47	87,825	36,441	2,896,913	754,986
2020-04-21	$13.86	$14.00	44.4%	13.1%	40.7%	38.2%	47.2%	0.6%	-1.3%	21.9M	-573.1M	-9.3M	0.56	2.25	139,526	77,462	2,928,940	769,371
2020-04-22	$14.07	$14.00	44.1%	12.8%	32.9%	37.9%	45.9%	0.1%	-1.1%	23.9M	-664.3M	-9.8M	0.45	2.28	157,291	70,505	2,967,265	803,293
2020-04-23	$14.28	$14.00	44.7%	13.0%	32.7%	38.7%	46.8%	-1.0%	-1.0%	26.5M	-784.5M	-10.2M	0.16	2.27	236,201	36,928	2,986,383	817,933
2020-04-24	$14.20	$14.00	43.0%	12.5%	32.6%	36.5%	47.1%	-0.7%	-1.2%	25.6M	-789.4M	-10.2M	0.35	2.23	113,932	40,350	3,092,752	825,188
2020-04-27	$14.18	$14.00	39.0%	11.5%	32.7%	31.6%	43.9%	-0.8%	0.5%	25.5M	-702.1M	-9.8M	0.27	2.25	101,816	27,890	3,088,793	814,850
2020-04-28	$14.07	$14.00	35.5%	10.6%	31.1%	27.3%	39.8%	0.8%	0.4%	23.9M	-597.2M	-9.5M	0.32	2.36	86,429	27,354	3,128,928	840,273
2020-04-29	$14.34	$14.00	34.7%	10.7%	31.4%	26.3%	40.7%	-1.8%	1.0%	28.2M	-681.2M	-9.5M	0.25	2.38	163,858	41,312	3,136,691	852,031
2020-04-30	$13.97	$14.00	34.7%	10.8%	33.1%	26.3%	39.6%	-0.8%	0.4%	23.0M	-522.2M	-8.9M	0.39	2.14	124,493	48,196	3,209,405	864,502