SLV Options History — January 2022

In January 2022, SLV traded between $20.51 and $22.60. ATM implied volatility averaged 24.9%, placing in the 4.5% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 3.8% (HV 20d: 21.1%). Max pain ranged from $21.00 to $22.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.45.

Notable Days

2022-01-03: Highest Volume — 543,475 contracts
2022-01-18: Largest IV spike — 9.1% change
2022-01-28: Highest IV Rank — 9.7%
2022-01-28: Largest Expected Move — 8.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$21.40	$20.51	$22.60	$21.20	$20.77
Max Pain	$21.38	$21.00	$22.00	$21.00	$21.50
ATM IV	24.9%	22.4%	27.7%	24.0%	27.3%
Expected Move	7.1%	6.4%	8.1%	6.6%	7.9%
HV 20d	21.1%	17.5%	26.2%	17.5%	26.0%
HV 60d	20.3%	19.0%	21.6%	19.8%	21.5%
IV Rank	4.5%	0.0%	9.7%	2.6%	9.1%
IV Percentile	27.0%	0.0%	63.1%	11.9%	61.9%
Term Structure	0.1%	-0.4%	0.7%	0.2%	-0.2%
VWIV	25.9%	22.6%	28.9%	23.2%	28.9%
Skew 25d	0.2%	-3.3%	2.2%	-0.5%	1.7%
Skew 10d	-0.2%	-8.0%	3.9%	-0.9%	3.7%
Call IV 25d	26.0%	23.1%	28.6%	25.3%	27.8%
Put IV 25d	26.2%	23.4%	29.5%	24.7%	29.5%
Bid-Ask Spread %	1.29	0.84	1.65	0.88	1.16
Gamma HHI	0.10	0.07	0.14	0.12	0.07
Net GEX	54.3M	26.4M	101.4M	42.9M	34.4M
Net DEX	-557.3M	-1.50B	-31.0K	-294.9M	-162.4M
Net VEX	-13.9M	-15.9M	-11.4M	-11.4M	-13.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.45	0.08	0.87	0.08	0.87
Total Volume	246,809.05	123,825	543,475	543,475	144,852
Total OI	4,868,061.3	3,604,264	5,586,935	4,790,751	3,831,691

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
2022-01-03	$21.20	$21.00	24.0%	6.6%	17.5%	2.6%	23.2%	-0.5%	0.2%	42.9M	-294.9M	-11.4M	0.08	0.88	502,730	40,745	3,508,508	1,282,243
2022-01-04	$21.33	$21.00	23.4%	6.4%	17.5%	1.5%	22.6%	-0.4%	0.5%	54.7M	-507.0M	-13.7M	0.39	0.84	114,298	44,412	3,936,448	1,290,162
2022-01-05	$21.07	$21.00	23.6%	6.5%	18.1%	2.0%	23.5%	0.0%	0.3%	46.1M	-382.1M	-13.7M	0.54	0.89	97,153	52,401	3,972,362	1,302,296
2022-01-06	$20.51	$21.00	24.1%	7.1%	20.5%	2.9%	25.8%	-0.1%	0.5%	26.4M	-31.0K	-12.7M	0.63	1.38	158,459	99,877	3,971,282	1,308,543
2022-01-07	$20.64	$21.00	24.0%	7.0%	19.0%	2.7%	25.5%	0.7%	0.7%	29.7M	-78.7M	-13.1M	0.60	1.27	95,232	57,114	4,031,311	1,331,103
2022-01-10	$20.77	$21.00	24.2%	7.0%	18.9%	3.1%	25.3%	0.7%	-0.0%	34.1M	-159.5M	-13.0M	0.36	1.34	91,137	32,688	3,999,943	1,296,503
2022-01-11	$21.06	$21.00	24.3%	7.0%	19.4%	3.1%	24.9%	1.4%	0.0%	45.6M	-343.9M	-13.2M	0.37	1.30	119,159	44,334	4,018,550	1,296,190
2022-01-12	$21.47	$21.00	24.4%	7.0%	19.2%	3.4%	25.3%	0.3%	0.2%	60.3M	-644.9M	-14.0M	0.24	1.34	240,688	57,075	4,033,373	1,306,185
2022-01-13	$21.35	$21.00	23.2%	6.7%	19.4%	1.2%	24.3%	0.3%	0.3%	60.4M	-588.8M	-14.1M	0.26	1.35	168,118	44,117	4,089,510	1,309,625
2022-01-14	$21.22	$21.00	22.4%	6.5%	18.5%	0.0%	23.6%	0.4%	0.2%	48.2M	-419.6M	-13.3M	0.43	1.19	132,159	56,895	4,096,618	1,320,732
2022-01-18	$21.72	$21.00	24.4%	7.0%	20.1%	3.7%	25.4%	-0.3%	-0.2%	71.3M	-829.7M	-13.9M	0.36	1.41	201,814	73,057	4,085,324	1,301,787
2022-01-19	$22.36	$21.00	26.1%	7.5%	21.9%	6.9%	27.5%	-1.9%	-0.4%	92.0M	-1.35B	-15.5M	0.26	1.57	341,790	90,103	4,097,739	1,334,003
2022-01-20	$22.60	$22.00	25.1%	7.2%	21.9%	5.1%	27.4%	-3.3%	-0.3%	101.4M	-1.50B	-15.9M	0.31	1.53	300,308	92,170	4,160,462	1,376,683
2022-01-21	$22.38	$22.00	24.9%	7.1%	22.1%	4.7%	26.3%	-0.8%	0.1%	86.7M	-1.25B	-15.6M	0.66	1.56	125,264	82,630	4,184,769	1,402,166
2022-01-24	$22.10	$22.00	25.7%	7.4%	22.7%	6.2%	27.0%	0.5%	0.3%	64.1M	-848.1M	-14.8M	0.68	1.31	207,692	141,661	2,754,056	850,208
2022-01-25	$22.06	$22.00	26.1%	7.6%	22.6%	7.0%	28.2%	0.5%	0.3%	64.6M	-844.6M	-15.2M	0.40	1.34	139,275	56,011	2,829,685	920,702
2022-01-26	$21.68	$22.00	25.9%	7.5%	23.6%	6.5%	27.3%	0.7%	0.4%	56.8M	-632.0M	-14.8M	0.51	1.65	116,706	58,955	2,864,464	942,936
2022-01-27	$21.01	$22.00	26.7%	7.8%	26.1%	7.9%	27.6%	2.2%	0.1%	35.9M	-209.2M	-13.6M	0.36	1.34	223,179	81,129	2,869,234	966,079
2022-01-28	$20.70	$22.00	27.7%	8.1%	26.2%	9.7%	28.2%	2.1%	-0.0%	30.3M	-103.1M	-13.5M	0.59	1.22	132,857	77,937	2,903,971	983,780
2022-01-31	$20.77	$21.50	27.3%	7.9%	26.0%	9.1%	28.9%	1.7%	-0.2%	34.4M	-162.4M	-13.6M	0.87	1.16	77,482	67,370	2,862,852	968,839