SLV Options History — February 2021

In February 2021, SLV traded between $24.51 and $27.04. ATM implied volatility averaged 44.1%, placing in the 34.0% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded below realized volatility by 9.8% (HV 20d: 53.9%). Max pain ranged from $23.50 to $25.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.35.

Notable Days

  • 2021-02-01: Highest Volume — 3,147,609 contracts
  • 2021-02-02: Largest IV drop — 34.8% change
  • 2021-02-01: Highest IV Rank — 77.1%
  • 2021-02-01: Largest Expected Move — 23.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.33$24.51$27.04$27.04$24.72
Max Pain$23.66$23.50$25.00$24.00$23.50
ATM IV44.1%37.6%76.7%76.7%42.0%
Expected Move12.8%10.7%23.7%23.7%12.2%
HV 20d53.9%49.9%60.0%49.9%50.1%
HV 60d42.0%40.3%44.8%40.3%42.0%
IV Rank34.0%24.3%77.1%77.1%28.5%
IV Percentile55.4%35.7%98.4%98.4%49.2%
Term Structure0.1%-2.6%1.2%-2.6%-0.1%
VWIV50.6%41.0%93.0%93.0%46.9%
Skew 25d-11.3%-29.9%-6.2%-29.9%-6.2%
Skew 10d-21.6%-52.8%-15.0%-52.8%-15.1%
Call IV 25d53.3%43.8%97.3%97.3%49.0%
Put IV 25d42.0%36.0%67.5%67.5%42.8%
Bid-Ask Spread %1.681.521.901.521.77
Gamma HHI0.080.060.120.060.07
Net GEX113.1M80.7M128.1M112.9M80.7M
Net DEX-3.57B-6.01B-2.66B-6.01B-2.66B
Net VEX-25.6M-28.0M-24.7M-28.0M-25.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.350.190.570.260.57
Total Volume665,228.789252,8313,147,6093,147,609640,737
Total OI7,553,095.2636,732,4907,953,3666,732,4907,439,123

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-02-01$27.04$24.0076.7%23.7%49.9%77.1%93.0%-29.9%-2.6%112.9M-6.01B-28.0M0.261.522,490,425657,1844,936,4531,796,037
2021-02-02$24.65$25.0050.0%14.9%59.5%43.0%60.7%-15.9%-0.4%93.2M-3.25B-26.1M0.291.901,266,200370,3035,498,3812,114,328
2021-02-03$24.89$24.5049.5%14.4%59.5%42.3%55.2%-13.5%-0.4%113.8M-3.47B-26.2M0.471.76457,763217,1995,675,1152,177,777
2021-02-04$24.51$23.5042.5%12.2%59.6%33.3%51.3%-11.1%-0.0%98.3M-2.80B-25.2M0.221.65536,575115,8755,716,9972,210,143
2021-02-05$24.97$23.5043.9%12.8%60.0%35.2%52.0%-12.9%0.7%128.1M-3.39B-25.7M0.311.67366,539112,1555,738,1922,215,174
2021-02-08$25.46$23.5043.2%12.6%54.6%34.3%49.1%-13.3%0.9%119.7M-3.84B-25.5M0.281.69339,12794,3615,444,4952,101,949
2021-02-09$25.30$23.5041.5%12.1%54.2%32.1%46.2%-11.2%0.5%118.6M-3.58B-25.0M0.461.56240,080109,5995,499,6792,119,648
2021-02-10$25.05$23.5040.9%12.0%54.0%31.3%46.3%-10.6%0.8%108.1M-3.26B-25.0M0.351.67250,41786,7715,529,7362,160,175
2021-02-11$25.10$23.5038.9%11.3%53.8%28.8%45.4%-8.7%0.6%109.5M-3.26B-25.1M0.361.65265,01795,4745,562,3282,192,402
2021-02-12$25.34$23.5038.6%11.3%53.8%28.0%43.8%-9.6%1.2%126.5M-3.58B-25.6M0.321.61288,13093,1645,625,0412,243,384
2021-02-16$25.29$23.5040.3%11.6%51.9%30.2%45.7%-10.1%0.2%122.1M-3.47B-25.0M0.351.67373,785130,2745,444,7722,144,931
2021-02-17$25.40$23.5041.5%11.9%51.7%29.5%46.7%-9.1%0.3%127.4M-3.55B-25.5M0.301.69276,44582,5185,522,9472,207,388
2021-02-18$25.07$23.5039.3%11.2%51.3%26.5%44.2%-8.4%0.3%117.5M-3.15B-25.0M0.511.66167,43285,3995,550,9242,221,491
2021-02-19$25.28$23.5037.6%10.7%51.3%24.3%41.0%-6.8%0.8%112.1M-3.35B-24.7M0.491.69331,411162,8765,548,6342,244,915
2021-02-22$26.16$23.5046.0%13.2%51.9%34.7%50.6%-11.7%-0.5%106.6M-4.04B-25.8M0.191.60625,771116,9624,908,0261,989,942
2021-02-23$25.70$23.5042.8%12.3%52.3%30.3%47.6%-8.6%0.3%115.4M-3.72B-25.9M0.321.73263,94783,6795,159,3902,009,892
2021-02-24$25.88$23.5042.3%12.0%52.3%29.7%47.0%-9.3%-0.1%124.3M-3.92B-26.1M0.301.73249,08875,0575,219,1322,047,979
2021-02-25$25.49$23.5040.7%11.7%52.5%27.5%49.0%-8.3%-0.1%114.2M-3.48B-25.6M0.271.76411,369110,2395,236,5342,055,356
2021-02-26$24.72$23.5042.0%12.2%50.1%28.5%46.9%-6.2%-0.1%80.7M-2.66B-25.0M0.571.77409,391231,3465,346,0342,093,089