SLV Options History — February 2023

In February 2023, SLV traded between $18.91 and $22.11. ATM implied volatility averaged 27.2%, placing in the 13.3% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 2.5% (HV 20d: 24.6%). Max pain ranged from $20.00 to $21.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 0.52.

Notable Days

  • 2023-02-03: Highest Volume — 294,189 contracts
  • 2023-02-13: Largest IV spike — 3.3% change
  • 2023-02-07: Highest IV Rank — 19.7%
  • 2023-02-07: Largest Expected Move — 8.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$20.15$18.91$22.11$22.11$19.23
Max Pain$20.68$20.00$21.00$21.00$20.00
ATM IV27.2%26.0%28.3%27.8%26.2%
Expected Move7.8%7.4%8.1%8.1%7.6%
HV 20d24.6%21.7%29.1%23.3%24.2%
HV 60d30.2%28.6%32.3%32.3%28.6%
IV Rank13.3%6.5%19.7%17.2%7.5%
IV Percentile19.7%7.5%35.3%27.8%7.9%
Term Structure0.1%-0.2%0.6%-0.0%-0.2%
VWIV27.7%26.0%29.5%28.7%26.2%
Skew 25d0.4%-0.9%1.3%-0.9%0.9%
Skew 10d0.7%-1.3%1.8%-1.3%1.3%
Call IV 25d27.5%25.9%28.8%28.7%26.2%
Put IV 25d27.9%26.6%29.1%27.8%27.1%
Bid-Ask Spread %4.231.4111.5911.593.36
Gamma HHI0.100.070.110.100.07
Net GEX28.0M13.8M55.7M55.7M23.1M
Net DEX-597.8M-1.60B-106.6M-1.60B-322.9M
Net VEX-11.7M-12.9M-10.8M-12.9M-11.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.520.231.080.400.24
Total Volume171,099.10596,553294,189107,14096,553
Total OI3,564,079.9473,373,8903,780,2273,373,8903,706,477

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-02-01$22.11$21.0027.8%8.1%23.3%17.2%28.7%-0.9%-0.0%55.7M-1.60B-12.9M0.4011.5976,72530,4152,290,1221,083,768
2023-02-02$21.55$21.0027.8%8.0%24.8%17.1%29.5%-0.5%0.0%43.7M-1.27B-12.7M0.231.96231,80552,6872,307,7111,089,623
2023-02-03$20.56$21.0027.7%8.0%29.1%16.9%28.8%0.0%-0.0%25.0M-650.6M-11.9M0.481.81199,20994,9802,318,0281,100,267
2023-02-06$20.45$21.0028.1%8.1%27.1%18.8%29.3%0.1%0.3%27.5M-652.0M-11.8M0.282.35159,93545,0162,353,2611,089,732
2023-02-07$20.38$21.0028.3%8.1%27.0%19.7%29.2%0.2%-0.0%28.0M-629.2M-11.8M0.433.0684,85736,4962,404,3961,102,920
2023-02-08$20.49$21.0027.7%8.0%27.2%17.0%28.2%0.4%0.0%31.0M-713.0M-11.8M0.782.2398,54876,9342,418,4431,098,270
2023-02-09$20.20$20.5028.2%8.1%27.4%19.4%29.0%0.3%0.1%25.1M-543.5M-11.7M0.503.88169,67284,8032,424,5321,127,633
2023-02-10$20.27$20.5027.4%7.9%26.6%15.1%28.5%0.6%0.2%26.8M-605.6M-12.0M0.677.4880,75653,7142,475,9351,139,623
2023-02-13$20.20$20.5028.3%8.1%24.9%19.6%28.5%0.4%0.2%25.8M-564.2M-11.8M0.366.6888,20531,4232,456,3771,142,166
2023-02-14$20.13$20.5027.4%7.8%24.6%13.4%27.5%0.9%0.3%25.0M-526.6M-11.7M0.597.2983,36049,5112,508,0261,159,612
2023-02-15$19.89$21.0026.9%7.7%24.2%10.8%27.9%0.6%0.6%23.0M-427.9M-11.6M0.854.16133,058113,4682,532,1001,158,543
2023-02-16$19.89$21.0026.3%7.5%22.8%8.0%26.8%0.7%0.6%23.4M-476.5M-11.6M0.414.1872,48530,0412,569,8861,176,661
2023-02-17$20.02$21.0026.4%7.5%23.0%8.6%26.5%0.5%0.4%30.9M-567.1M-11.8M0.421.4195,45940,5202,594,0741,186,153
2023-02-21$20.11$20.5027.0%7.7%22.3%11.5%27.0%0.4%-0.2%33.6M-664.4M-11.8M0.511.6079,36340,1022,355,5181,069,224
2023-02-22$19.74$20.5026.5%7.5%22.4%9.2%26.4%0.4%0.3%28.3M-444.6M-11.3M0.552.06115,84363,1942,379,9051,096,662
2023-02-23$19.63$20.5026.0%7.4%21.7%6.5%26.0%0.7%0.1%25.3M-425.5M-11.2M0.882.0682,53272,9422,414,8671,120,561
2023-02-24$19.09$20.5026.6%7.6%22.9%9.4%26.2%1.3%-0.2%17.3M-161.6M-10.9M1.0811.32105,046113,1952,461,9751,177,077
2023-02-27$18.91$20.0026.1%7.5%22.8%6.8%26.0%0.8%-0.2%13.8M-106.6M-10.8M0.291.85130,17737,8542,433,0291,194,362
2023-02-28$19.23$20.0026.2%7.6%24.2%7.5%26.2%0.9%-0.2%23.1M-322.9M-11.1M0.243.3677,80618,7472,513,9671,192,510