SLV Options History — November 2020

In November 2020, SLV traded between $21.02 and $23.80. ATM implied volatility averaged 38.9%, placing in the 31.5% IV rank vs the trailing year. The 30-day expected move averaged 11.4%. IV traded above realized volatility by 2.8% (HV 20d: 36.1%). Max pain ranged from $22.00 to $23.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 0.34.

Notable Days

2020-11-09: Highest Volume — 622,599 contracts
2020-11-05: Largest IV spike — 22.2% change
2020-11-03: Highest IV Rank — 43.4%
2020-11-03: Largest Expected Move — 14.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.39	$21.02	$23.80	$22.39	$21.04
Max Pain	$22.15	$22.00	$23.00	$23.00	$22.00
ATM IV	38.9%	33.0%	48.6%	47.2%	33.8%
Expected Move	11.4%	9.4%	14.8%	14.5%	10.4%
HV 20d	36.1%	31.3%	39.2%	34.4%	36.2%
HV 60d	42.0%	39.4%	51.5%	51.5%	39.4%
IV Rank	31.5%	24.2%	43.4%	41.7%	25.2%
IV Percentile	57.1%	42.9%	79.8%	77.4%	44.8%
Term Structure	0.1%	-1.1%	1.3%	-0.7%	0.7%
VWIV	42.2%	34.2%	53.4%	52.9%	40.2%
Skew 25d	-3.8%	-8.8%	-1.7%	-2.8%	-4.4%
Skew 10d	-6.7%	-15.9%	-1.8%	-7.3%	-9.1%
Call IV 25d	42.5%	35.4%	53.2%	50.6%	37.3%
Put IV 25d	38.7%	32.9%	49.4%	47.8%	32.9%
Bid-Ask Spread %	1.69	1.38	2.08	1.55	1.78
Gamma HHI	0.07	0.06	0.08	0.07	0.06
Net GEX	71.5M	30.3M	103.7M	71.2M	52.8M
Net DEX	-2.86B	-4.48B	-1.69B	-2.86B	-1.86B
Net VEX	-20.1M	-23.9M	-16.8M	-22.2M	-17.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.34	0.15	0.59	0.23	0.34
Total Volume	289,299.95	144,460	622,599	243,723	251,170
Total OI	7,702,851.25	6,946,298	8,241,116	7,563,478	7,157,471

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
2020-11-02	$22.39	$23.00	47.2%	14.5%	34.4%	41.7%	52.9%	-2.8%	-0.7%	71.2M	-2.86B	-22.2M	0.23	1.55	197,734	45,989	5,425,704	2,137,774
2020-11-03	$22.46	$23.00	48.6%	14.8%	31.3%	43.4%	53.1%	-2.5%	-0.4%	71.3M	-2.97B	-22.2M	0.27	1.52	169,511	46,485	5,425,704	2,137,774
2020-11-04	$22.19	$23.00	38.2%	11.3%	31.3%	30.7%	41.5%	-1.9%	0.4%	68.1M	-2.57B	-20.8M	0.29	1.56	134,897	38,700	5,520,665	2,165,182
2020-11-05	$23.60	$22.00	46.7%	13.8%	38.2%	41.1%	48.7%	-8.1%	0.3%	98.5M	-4.20B	-23.4M	0.19	2.08	485,452	90,719	5,540,763	2,170,308
2020-11-06	$23.80	$22.00	48.3%	14.0%	33.8%	43.0%	53.4%	-7.7%	0.6%	103.7M	-4.48B	-23.9M	0.41	1.96	354,778	146,734	5,696,933	2,198,115
2020-11-09	$22.52	$22.00	45.8%	13.5%	39.2%	40.0%	50.1%	-8.8%	1.3%	75.4M	-3.12B	-22.7M	0.31	1.96	474,540	148,059	5,690,922	2,238,308
2020-11-10	$22.47	$22.00	41.7%	11.9%	36.8%	34.9%	44.7%	-7.0%	-0.2%	79.1M	-2.99B	-21.8M	0.36	1.74	190,867	68,516	5,750,521	2,265,871
2020-11-11	$22.53	$22.00	39.3%	11.5%	36.8%	32.0%	43.5%	-4.6%	0.9%	80.9M	-2.97B	-21.2M	0.35	1.57	127,418	44,981	5,737,867	2,260,093
2020-11-12	$22.52	$22.00	39.1%	11.4%	36.8%	31.7%	41.6%	-3.5%	1.0%	77.4M	-2.88B	-20.8M	0.41	1.67	102,228	42,232	5,715,805	2,274,306
2020-11-13	$22.90	$22.00	38.8%	11.3%	37.2%	31.4%	42.8%	-4.0%	0.7%	90.4M	-3.24B	-20.9M	0.40	1.70	145,207	57,663	5,714,304	2,284,924
2020-11-16	$22.98	$22.00	37.4%	10.8%	37.1%	29.7%	39.6%	-4.1%	0.1%	89.5M	-3.30B	-20.0M	0.36	1.56	193,642	68,801	5,665,768	2,239,598
2020-11-17	$22.70	$22.00	36.7%	10.6%	36.8%	28.7%	38.7%	-3.3%	-0.4%	79.2M	-3.03B	-19.4M	0.39	1.57	127,185	49,583	5,718,443	2,241,368
2020-11-18	$22.57	$22.00	34.4%	9.9%	36.6%	26.0%	35.6%	-2.1%	-0.1%	70.7M	-2.80B	-18.6M	0.15	1.52	339,317	49,331	5,758,294	2,240,184
2020-11-19	$22.38	$22.00	34.1%	9.8%	36.5%	25.6%	36.9%	-2.1%	0.1%	69.2M	-2.70B	-18.6M	0.35	1.38	152,340	54,049	5,966,047	2,232,395
2020-11-20	$22.52	$22.00	33.0%	9.5%	36.6%	24.2%	34.2%	-2.4%	-0.3%	60.4M	-2.87B	-18.9M	0.59	1.76	116,995	68,724	6,000,329	2,240,787
2020-11-23	$21.94	$22.00	33.9%	9.7%	37.5%	25.3%	36.4%	-2.0%	-0.4%	56.1M	-2.35B	-17.4M	0.41	1.57	212,615	87,630	5,115,099	1,831,199
2020-11-24	$21.56	$22.00	35.0%	10.1%	37.9%	26.7%	37.0%	-1.7%	-0.6%	53.9M	-2.16B	-17.9M	0.41	1.86	235,113	95,621	5,133,170	1,867,848
2020-11-25	$21.70	$22.00	33.0%	9.4%	34.9%	24.2%	35.9%	-2.1%	-0.2%	52.7M	-2.23B	-17.3M	0.30	1.70	170,770	50,488	5,223,205	1,899,062
2020-11-27	$21.02	$22.00	33.7%	10.0%	36.7%	25.1%	37.0%	-1.7%	-1.1%	30.3M	-1.69B	-16.8M	0.34	1.75	262,039	87,876	5,258,395	1,916,520
2020-11-30	$21.04	$22.00	33.8%	10.4%	36.2%	25.2%	40.2%	-4.4%	0.7%	52.8M	-1.86B	-17.4M	0.34	1.78	187,378	63,792	5,266,724	1,890,747