SLV Options History — March 2022

In March 2022, SLV traded between $22.91 and $24.48. ATM implied volatility averaged 32.7%, placing in the 51.3% IV rank vs the trailing year. The 30-day expected move averaged 9.9%. IV traded above realized volatility by 6.4% (HV 20d: 26.3%). Max pain ranged from $22.00 to $23.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 0.38.

Notable Days

2022-03-08: Highest Volume — 916,208 contracts
2022-03-04: Largest IV spike — 13.2% change
2022-03-04: Highest IV Rank — 100.0%
2022-03-08: Largest Expected Move — 13.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$23.37	$22.91	$24.48	$23.51	$22.92
Max Pain	$22.61	$22.00	$23.00	$22.00	$23.00
ATM IV	32.7%	26.8%	44.4%	31.1%	26.8%
Expected Move	9.9%	8.0%	13.7%	9.5%	8.0%
HV 20d	26.3%	20.9%	30.6%	21.0%	27.1%
HV 60d	23.6%	21.8%	25.2%	21.8%	24.8%
IV Rank	51.3%	20.1%	100.0%	50.4%	20.1%
IV Percentile	89.5%	59.9%	100.0%	91.3%	59.9%
Term Structure	-0.1%	-1.0%	0.8%	0.0%	0.7%
VWIV	36.3%	28.7%	49.1%	33.9%	28.7%
Skew 25d	-5.6%	-12.3%	-3.3%	-5.1%	-4.0%
Skew 10d	-10.2%	-18.9%	-5.6%	-9.7%	-8.4%
Call IV 25d	37.4%	30.8%	53.5%	35.2%	30.9%
Put IV 25d	31.8%	26.8%	41.2%	30.1%	26.8%
Bid-Ask Spread %	1.92	1.54	2.53	1.60	1.96
Gamma HHI	0.09	0.07	0.29	0.09	0.18
Net GEX	99.8M	80.5M	150.3M	105.1M	105.1M
Net DEX	-1.90B	-3.14B	-1.30B	-2.13B	-1.32B
Net VEX	-19.3M	-21.5M	-17.9M	-18.9M	-17.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.38	0.20	0.57	0.20	0.57
Total Volume	318,937.217	153,008	916,208	622,396	173,078
Total OI	4,852,077.696	4,560,862	5,070,999	4,560,862	5,069,859

Daily Data (23 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
2022-03-01	$23.51	$22.00	31.1%	9.5%	21.0%	50.4%	33.9%	-5.1%	0.0%	105.1M	-2.13B	-18.9M	0.20	1.60	519,842	102,554	3,375,914	1,184,948
2022-03-02	$23.42	$22.00	32.4%	9.6%	21.3%	61.7%	33.9%	-4.3%	-0.5%	104.5M	-2.12B	-19.3M	0.42	1.54	334,207	141,550	3,498,394	1,230,975
2022-03-03	$23.31	$22.00	32.4%	9.6%	21.5%	65.8%	34.7%	-5.1%	-0.5%	108.0M	-2.03B	-19.0M	0.54	1.62	179,155	96,910	3,439,563	1,197,632
2022-03-04	$23.68	$22.00	36.7%	10.8%	20.9%	100.0%	40.2%	-6.9%	-0.7%	112.1M	-2.45B	-19.9M	0.24	1.91	368,368	89,583	3,487,111	1,202,659
2022-03-07	$23.64	$22.00	40.3%	12.4%	21.1%	100.0%	45.6%	-10.3%	-1.0%	98.8M	-2.42B	-20.5M	0.28	2.08	366,904	103,499	3,433,319	1,191,431
2022-03-08	$24.48	$22.00	44.4%	13.7%	22.6%	100.0%	49.1%	-12.3%	-0.5%	102.5M	-3.14B	-21.5M	0.33	2.53	688,783	227,425	3,445,022	1,204,291
2022-03-09	$23.77	$22.00	39.6%	13.2%	26.1%	78.2%	46.2%	-6.1%	-0.8%	97.7M	-2.40B	-20.9M	0.51	2.26	291,153	147,130	3,552,654	1,286,910
2022-03-10	$23.98	$22.00	38.0%	12.0%	26.1%	70.8%	42.6%	-7.6%	-0.8%	104.9M	-2.55B	-20.9M	0.51	2.08	191,964	97,068	3,587,687	1,297,261
2022-03-11	$23.87	$22.00	36.1%	11.4%	26.1%	62.2%	41.1%	-6.8%	-0.5%	101.8M	-2.37B	-20.6M	0.42	2.04	166,366	69,991	3,609,096	1,333,547
2022-03-14	$23.17	$23.00	32.9%	9.7%	28.4%	47.9%	37.6%	-6.3%	-0.1%	91.0M	-1.75B	-19.4M	0.39	1.93	193,813	75,461	3,567,443	1,310,998
2022-03-15	$22.98	$23.00	32.8%	9.6%	28.5%	47.3%	37.4%	-5.1%	-0.1%	87.4M	-1.56B	-19.2M	0.56	1.90	112,349	63,376	3,616,292	1,328,154
2022-03-16	$23.08	$23.00	31.9%	9.3%	27.2%	43.3%	37.0%	-3.9%	-0.5%	96.2M	-1.60B	-18.7M	0.34	1.94	164,638	56,467	3,632,989	1,327,945
2022-03-17	$23.37	$23.00	32.3%	9.3%	27.3%	44.9%	36.7%	-5.6%	0.0%	107.9M	-1.91B	-19.3M	0.26	1.79	219,215	57,092	3,682,073	1,328,673
2022-03-18	$22.96	$23.00	29.2%	8.8%	28.2%	30.9%	32.4%	-3.8%	0.1%	150.3M	-1.46B	-18.3M	0.40	1.87	196,943	78,149	3,728,146	1,342,853
2022-03-21	$23.33	$23.00	30.4%	8.9%	28.6%	36.5%	34.1%	-3.8%	0.0%	89.5M	-1.66B	-18.7M	0.38	1.88	166,209	62,464	3,518,661	1,204,076
2022-03-22	$22.91	$23.00	28.2%	8.4%	29.4%	26.7%	32.5%	-3.3%	0.3%	80.5M	-1.30B	-17.9M	0.33	1.79	119,183	38,944	3,571,618	1,229,659
2022-03-23	$23.27	$23.00	30.2%	8.9%	29.5%	35.4%	31.8%	-4.5%	0.4%	91.7M	-1.64B	-18.7M	0.34	1.83	127,580	44,005	3,603,882	1,229,415
2022-03-24	$23.63	$23.00	30.6%	9.0%	29.2%	37.3%	34.2%	-6.4%	0.1%	102.5M	-1.98B	-19.3M	0.23	1.92	309,340	70,169	3,629,191	1,239,155
2022-03-25	$23.46	$23.00	30.3%	9.1%	29.4%	36.2%	32.5%	-6.1%	0.3%	104.3M	-1.85B	-19.5M	0.42	1.80	163,794	69,022	3,676,722	1,252,861
2022-03-28	$22.92	$23.00	29.1%	8.7%	30.6%	30.5%	31.6%	-4.7%	0.5%	82.6M	-1.40B	-18.2M	0.40	1.96	152,880	60,793	3,669,871	1,250,287
2022-03-29	$22.92	$23.00	29.1%	8.7%	27.1%	30.4%	31.7%	-3.5%	0.5%	81.9M	-1.34B	-18.1M	0.34	1.89	168,095	57,037	3,712,358	1,269,006
2022-03-30	$22.98	$23.00	27.4%	8.2%	27.1%	22.7%	30.2%	-3.4%	0.8%	88.4M	-1.40B	-18.1M	0.35	1.94	113,691	39,317	3,761,801	1,285,385
2022-03-31	$22.92	$23.00	26.8%	8.0%	27.1%	20.1%	28.7%	-4.0%	0.7%	105.1M	-1.32B	-17.9M	0.57	1.96	110,064	63,014	3,782,314	1,287,545