SLV Options History — August 2020

In August 2020, SLV traded between $22.71 and $26.93. ATM implied volatility averaged 61.6%, placing in the 59.3% IV rank vs the trailing year. The 30-day expected move averaged 17.5%. IV traded below realized volatility by 9.5% (HV 20d: 71.0%). Max pain ranged from $18.00 to $23.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.32.

Notable Days

2020-08-06: Highest Volume — 1,804,832 contracts
2020-08-04: Largest IV spike — 16.8% change
2020-08-07: Highest IV Rank — 79.0%
2020-08-07: Largest Expected Move — 21.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.12	$22.71	$26.93	$22.71	$26.27
Max Pain	$21.79	$18.00	$23.00	$18.00	$23.00
ATM IV	61.6%	49.4%	77.5%	49.4%	55.3%
Expected Move	17.5%	14.2%	21.1%	14.2%	16.3%
HV 20d	71.0%	48.4%	82.8%	48.4%	75.2%
HV 60d	48.4%	35.7%	53.5%	35.7%	53.2%
IV Rank	59.3%	44.4%	79.0%	44.4%	51.7%
IV Percentile	92.8%	86.1%	99.2%	91.7%	88.5%
Term Structure	-1.1%	-2.8%	0.9%	-0.5%	0.9%
VWIV	63.4%	51.7%	76.8%	52.7%	59.7%
Skew 25d	-9.1%	-19.8%	-1.8%	-10.4%	-5.0%
Skew 10d	-18.6%	-35.6%	-3.3%	-17.6%	-17.2%
Call IV 25d	68.1%	52.1%	92.2%	57.5%	59.4%
Put IV 25d	59.0%	47.1%	73.3%	47.1%	54.5%
Bid-Ask Spread %	1.68	1.22	1.91	1.56	1.68
Gamma HHI	0.08	0.07	0.10	0.07	0.09
Net GEX	129.9M	96.9M	153.5M	111.2M	153.5M
Net DEX	-7.68B	-9.93B	-5.86B	-5.86B	-8.03B
Net VEX	-27.9M	-29.9M	-22.4M	-22.4M	-29.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.32	0.22	0.48	0.25	0.22
Total Volume	878,117	479,884	1,804,832	588,688	573,811
Total OI	8,598,599.048	7,187,081	9,503,456	7,187,081	8,686,432

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
2020-08-03	$22.71	$18.00	49.4%	14.2%	48.4%	44.4%	52.7%	-10.4%	-0.5%	111.2M	-5.86B	-22.4M	0.25	1.56	470,646	118,042	5,411,504	1,775,577
2020-08-04	$24.18	$18.50	57.7%	17.2%	50.9%	54.6%	60.9%	-12.0%	-1.5%	122.6M	-7.36B	-24.5M	0.25	1.74	887,809	219,421	5,562,078	1,839,186
2020-08-05	$25.18	$19.00	65.6%	19.7%	51.5%	64.3%	69.9%	-17.2%	-1.8%	132.8M	-8.52B	-25.1M	0.29	1.74	1,004,702	287,023	5,688,551	1,929,459
2020-08-06	$26.77	$21.00	74.4%	20.5%	52.9%	75.1%	72.4%	-19.8%	-2.1%	126.4M	-9.93B	-26.4M	0.23	1.22	1,463,758	341,074	5,766,258	2,017,659
2020-08-07	$26.18	$21.50	77.5%	21.1%	54.8%	79.0%	76.8%	-18.9%	-2.8%	116.0M	-9.43B	-28.1M	0.42	1.45	1,051,094	442,040	6,043,383	2,153,289
2020-08-10	$26.93	$22.00	75.1%	20.8%	54.8%	76.0%	74.1%	-15.2%	-1.5%	132.1M	-9.93B	-28.7M	0.24	1.52	932,399	225,435	6,106,413	2,108,849
2020-08-11	$23.43	$22.00	72.7%	20.1%	79.0%	73.0%	72.8%	-15.0%	-2.2%	96.9M	-6.20B	-27.9M	0.37	1.85	1,175,478	434,267	6,274,072	2,220,143
2020-08-12	$23.66	$22.00	68.3%	19.1%	79.0%	67.6%	70.2%	-10.7%	-1.8%	105.3M	-6.42B	-28.5M	0.41	1.80	650,579	266,171	6,509,916	2,288,113
2020-08-13	$25.31	$22.00	69.7%	19.5%	80.4%	69.3%	72.4%	-9.7%	-1.9%	130.5M	-8.29B	-29.9M	0.34	1.91	758,552	259,762	6,619,482	2,364,132
2020-08-14	$24.48	$22.00	64.6%	18.3%	82.4%	63.1%	67.1%	-7.7%	-1.4%	117.8M	-7.26B	-29.6M	0.34	1.75	545,066	184,826	6,805,110	2,423,016
2020-08-17	$25.54	$22.00	64.3%	18.3%	82.8%	62.7%	66.1%	-9.4%	-1.1%	137.8M	-8.38B	-29.3M	0.27	1.66	476,751	128,500	6,644,064	2,353,532
2020-08-18	$25.97	$22.00	60.8%	17.4%	81.1%	58.4%	62.2%	-6.7%	-0.7%	152.2M	-8.85B	-29.3M	0.29	1.62	605,627	176,098	6,777,527	2,387,849
2020-08-19	$24.87	$22.50	59.5%	17.1%	79.0%	56.8%	61.7%	-4.9%	-0.4%	130.4M	-7.43B	-28.7M	0.40	1.74	495,895	200,420	6,817,868	2,452,745
2020-08-20	$25.59	$22.50	57.0%	16.4%	78.5%	53.8%	58.0%	-3.6%	-0.4%	150.1M	-8.21B	-28.6M	0.48	1.57	388,895	186,440	6,869,350	2,502,040
2020-08-21	$24.82	$22.50	57.5%	16.5%	79.9%	54.4%	59.1%	-4.2%	-0.3%	135.4M	-7.23B	-28.5M	0.45	1.67	435,696	195,113	6,921,813	2,581,643
2020-08-24	$24.60	$23.00	50.4%	14.4%	76.6%	45.7%	51.7%	-1.8%	-1.1%	117.7M	-6.04B	-27.0M	0.36	1.51	353,850	126,034	6,277,605	2,206,379
2020-08-25	$24.70	$23.00	49.9%	14.4%	76.6%	45.0%	54.2%	-3.0%	-0.8%	124.2M	-6.19B	-27.5M	0.24	1.80	395,130	94,337	6,358,736	2,247,228
2020-08-26	$25.54	$23.00	57.3%	16.9%	77.1%	54.1%	61.1%	-7.4%	-0.5%	141.2M	-7.34B	-28.9M	0.24	1.72	680,684	162,283	6,439,488	2,274,644
2020-08-27	$25.20	$23.00	53.4%	15.4%	75.7%	49.3%	56.2%	-4.9%	-0.6%	140.3M	-6.98B	-28.6M	0.24	1.87	433,902	106,030	6,587,177	2,332,913
2020-08-28	$25.63	$23.00	52.4%	14.9%	75.0%	48.1%	53.1%	-4.0%	-0.3%	152.8M	-7.43B	-28.7M	0.31	1.81	388,347	118,470	6,589,112	2,356,245
2020-08-31	$26.27	$23.00	55.3%	16.3%	75.2%	51.7%	59.7%	-5.0%	0.9%	153.5M	-8.03B	-29.0M	0.22	1.68	468,851	104,960	6,414,005	2,272,427