SLV Options History — July 2020

In July 2020, SLV traded between $16.71 and $22.73. ATM implied volatility averaged 40.2%, placing in the 33.0% IV rank vs the trailing year. The 30-day expected move averaged 11.6%. IV traded above realized volatility by 9.8% (HV 20d: 30.4%). Max pain ranged from $16.00 to $18.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.26.

Notable Days

2020-07-22: Highest Volume — 1,883,883 contracts
2020-07-22: Largest IV spike — 45.7% change
2020-07-22: Highest IV Rank — 60.5%
2020-07-28: Largest Expected Move — 18.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.26	$16.71	$22.73	$16.81	$22.55
Max Pain	$16.66	$16.00	$18.00	$16.00	$18.00
ATM IV	40.2%	27.1%	62.5%	30.0%	53.3%
Expected Move	11.6%	7.3%	18.5%	8.5%	15.4%
HV 20d	30.4%	19.7%	48.3%	24.8%	48.3%
HV 60d	28.8%	25.0%	35.8%	26.1%	35.8%
IV Rank	33.0%	17.0%	60.5%	20.6%	49.1%
IV Percentile	79.4%	63.1%	97.2%	70.2%	94.0%
Term Structure	-0.3%	-2.9%	0.8%	0.8%	-1.0%
VWIV	42.9%	26.9%	67.9%	29.7%	57.1%
Skew 25d	-7.9%	-16.5%	-3.0%	-3.0%	-10.5%
Skew 10d	-14.0%	-32.8%	-4.1%	-4.1%	-18.4%
Call IV 25d	45.9%	29.8%	73.7%	32.2%	61.1%
Put IV 25d	38.0%	26.7%	58.8%	29.2%	50.6%
Bid-Ask Spread %	1.79	1.52	2.54	1.62	1.86
Gamma HHI	0.15	0.06	0.55	0.16	0.08
Net GEX	106.7M	70.8M	255.9M	76.4M	128.4M
Net DEX	-3.55B	-5.95B	-1.74B	-1.84B	-5.91B
Net VEX	-15.1M	-22.5M	-11.4M	-11.5M	-22.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.26	0.08	0.41	0.41	0.30
Total Volume	611,742.545	138,616	1,883,883	220,728	628,358
Total OI	5,536,508.636	4,775,784	7,298,177	4,826,837	7,298,177

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
2020-07-01	$16.81	$16.00	30.0%	8.5%	24.8%	20.6%	29.7%	-3.0%	0.8%	76.4M	-1.84B	-11.5M	0.41	1.62	157,053	63,675	3,744,147	1,082,690
2020-07-02	$16.71	$16.00	27.1%	7.3%	24.9%	17.0%	26.9%	-3.0%	0.7%	70.8M	-1.74B	-11.4M	0.38	1.52	100,201	38,415	3,778,929	1,111,996
2020-07-06	$17.05	$16.00	28.3%	8.5%	24.6%	18.5%	30.9%	-3.7%	0.7%	85.6M	-1.99B	-11.5M	0.37	1.66	146,250	54,393	3,735,668	1,117,123
2020-07-07	$17.02	$16.00	29.5%	8.7%	23.5%	20.0%	31.4%	-3.5%	0.5%	84.9M	-1.98B	-11.4M	0.27	1.89	166,245	45,660	3,745,372	1,141,886
2020-07-08	$17.46	$16.00	31.0%	9.2%	24.5%	21.7%	34.1%	-4.2%	0.5%	102.2M	-2.41B	-12.0M	0.08	1.68	346,029	27,756	3,807,729	1,171,533
2020-07-09	$17.38	$16.00	30.0%	8.9%	22.6%	20.6%	31.5%	-4.7%	0.1%	106.0M	-2.34B	-11.9M	0.13	1.76	429,697	54,284	3,880,979	1,181,063
2020-07-10	$17.43	$16.00	29.3%	8.5%	19.9%	19.7%	30.7%	-4.6%	0.4%	115.9M	-2.36B	-12.2M	0.32	1.71	161,782	51,359	4,009,053	1,213,526
2020-07-13	$17.78	$16.00	32.0%	9.2%	20.1%	23.1%	34.4%	-5.3%	-0.1%	109.9M	-2.65B	-12.4M	0.28	1.69	458,972	127,949	3,981,080	1,196,987
2020-07-14	$17.90	$16.00	31.2%	9.0%	19.7%	22.0%	32.3%	-5.5%	0.0%	120.1M	-2.78B	-12.6M	0.23	1.66	165,423	37,580	4,123,589	1,276,339
2020-07-15	$18.12	$16.00	30.5%	8.9%	19.9%	21.2%	33.8%	-5.4%	0.8%	126.8M	-3.02B	-12.7M	0.32	1.61	234,172	75,967	4,166,319	1,299,118
2020-07-16	$17.82	$16.00	29.1%	8.4%	21.4%	19.5%	32.3%	-5.7%	0.3%	125.5M	-2.70B	-12.5M	0.16	1.68	207,651	33,069	4,238,483	1,325,052
2020-07-17	$18.04	$16.00	28.7%	8.2%	21.1%	19.0%	29.9%	-5.2%	0.1%	255.9M	-2.96B	-12.6M	0.30	1.75	328,242	97,107	4,284,810	1,335,509
2020-07-20	$18.55	$16.50	31.2%	8.9%	22.3%	22.0%	32.7%	-6.2%	0.3%	92.0M	-2.84B	-13.2M	0.23	1.60	306,400	70,826	3,738,941	1,036,843
2020-07-21	$19.72	$17.00	42.9%	12.3%	29.6%	36.4%	44.0%	-9.6%	-0.7%	92.1M	-3.80B	-14.8M	0.25	1.71	830,475	211,567	3,823,774	1,078,348
2020-07-22	$21.45	$17.00	62.5%	17.9%	39.9%	60.5%	64.0%	-16.5%	-2.9%	83.0M	-5.01B	-16.7M	0.20	1.89	1,564,154	319,729	3,971,147	1,201,285
2020-07-23	$20.98	$17.00	51.2%	14.8%	39.6%	46.6%	55.9%	-14.6%	-1.7%	92.0M	-4.49B	-17.5M	0.29	2.54	871,782	255,948	4,234,355	1,383,618
2020-07-24	$21.16	$17.50	48.3%	13.9%	39.6%	43.1%	53.3%	-12.4%	-0.5%	91.7M	-4.66B	-18.1M	0.34	1.91	453,270	154,938	4,437,072	1,490,913
2020-07-27	$22.69	$17.50	59.9%	17.5%	44.3%	57.3%	65.0%	-11.5%	-1.5%	91.1M	-5.78B	-19.7M	0.17	1.89	1,098,027	188,954	4,408,532	1,487,074
2020-07-28	$22.73	$18.00	62.4%	18.5%	44.3%	60.4%	67.9%	-12.6%	-1.5%	96.5M	-5.95B	-20.8M	0.22	2.09	1,043,596	224,453	4,797,171	1,565,000
2020-07-29	$22.56	$18.00	61.4%	18.1%	45.0%	59.2%	66.2%	-13.9%	-1.5%	103.1M	-5.94B	-22.2M	0.33	2.03	603,026	201,021	5,161,379	1,672,720
2020-07-30	$21.71	$18.00	53.3%	15.6%	48.1%	49.2%	59.7%	-13.0%	-0.8%	97.7M	-5.05B	-21.3M	0.18	1.72	697,675	125,206	5,310,155	1,757,706
2020-07-31	$22.55	$18.00	53.3%	15.4%	48.3%	49.1%	57.1%	-10.5%	-1.0%	128.4M	-5.91B	-22.5M	0.30	1.86	484,126	144,232	5,498,869	1,799,308